BGR Bundesanstalt für Geowissenschaften und Rohstoffe

Crude Oil

Production platform Heidrun/NorwayProduction platform Heidrun/Norway Source: Statoil, Foto: Øyvind Hagen

With a share of around 35 % of primary energy consumption, crude oil is the most important energy resource world-wide, and will remain so for the foreseeable future.

Global oil production rose by 2.5 % in 2015 to a new all-time high of over 4.3 billion t, whilst oil consumption rose by around 1 % to 4.35 billion t during the same period.

Total crude oil potential 2015 (excluding oil shale): regional distributionTotal crude oil potential 2015 (excluding oil shale): regional distribution Source: BGR

The remaining potential for crude oil (reserves and resources) is around 570 billion t. The quantities of non-conventional crude oil (bitumen, ultra-heavy oil, and crude oil from tight rocks (tight oil, shale oil)) are around 231 billion t.

To date, more crude oil has been consumed world-wide (around 183 billion tonnes) than are currently reported in conventional reserves (172 billion tonnes). Crude oil is the only non-renewable energy resource which will probably no longer be able to cover rising demand in the coming decades. Given the long periods of time required to convert the energy sector, it is therefore necessary to develop alternative energy systems in good time.

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