Qatar’s crude oil consumption increased 190 per cent in a decade
Oil consumption in the Middle East has increased significantly over the past ten years. The region, which is home to the world’s largest oil producers in the world, increased its consumption of crude oil by roughly 47 per cent during 2004-2014 period.
Qatar reported the highest surge in terms of local consumption of crude oil, which shot up by 190 per cent in the ten-year period, according to a report published by the Peninsula Qatar, citing data from the BP Statistical Review of World Energy 2015.
Saudi Arabia saw highest growth in terms of the absolute amount of crude oil consumed, recording a growth of 1.3 million of barrels per day or 67 per cent during the same period.
Qatar’s consumption soared from 106,000 barrels per day in 2004 to 307,000 bpd in 2014. Saudi Arabia’s oil consumption rose from 1.9m bpd in 2004 to 3.2m bpd in 2014. It is also the largest consumer of oil in the Middle East. Iran is the second-largest consumer of oil in the region. Its consumption of oil increased from 1.6m bpd to 2m bpd in 2014.
The United Arab Emirates came third, seeing consumption rise from 484,000 bpd in 2004 to 873,000 bpd in 2014. Total oil consumption in the Middle East region increased from 5.9m bpd in 2004 to 8.7m bpd.
Increasing energy needs due to rising population and many development projects are the major factors behind region’s growing consumption of oil.