Oil & Gas

Despite being the world’s largest oil producer, the U.S. still imported more than 3 billion barrels of crude oil and petroleum products in 2021, equal to 43% of the country’s consumption and making it the world’s second-largest importer of crude oil behind China as illustrated in the infographic below from visualcapitalist.com. 

Russia currently supplies 40% of the natural gas imported by the EU, so which alternatives could European countries turn to in the event of Russia turning off the tap?

14 countries make up 93.5% of the proven oil reserves globally each with at least 1% share. Here are those countries.

Given that oil will continue to be dominant in the energy mix for the short and medium term, which countries hold the most oil reserves?

The gold/oil ratio is recognized as a sort of canary in a coal mine, giving advance warning of turbulence ahead and, for the first time in 3 years, the ratio is below 20-to-1 compared to its historical average of 15-to-1. Were it to go above 20-to-1, making gold too expensive or oil too cheap, and we would be in crisis mode.

The Economist Intelligence Unit has produced its first global forecast since the Brexit vote. Please find below their forecasts for commodities until 2020.

Today's infographic serves as the perfect primer for all the questions about oil that you had, yet were afraid to ask. It also illustrates the impact that unexpected geopolitical events can have on the oil price – and how this volatility can be contagious to other global markets.

Oil is now cheaper than coffee, milk, and even bottled water. Really! Take a look at the price comparisons in the chart below.

Using the data provided by Barclays commodities analyst Michael Cohen, we put together a list of the 10 countries sitting on the greatest amounts of proven crude oil reserves (bbl). Check them out below.

The price of oil is currently undergoing a major decline but it is nothing compared to other famous oil slumps in history. Let's take a look.