Fast facts from the BP ‘Statistical Review of World Energy’

Some highlights from the annual BP "Statistical Review of World Energy":

  • Global energy demand accelerated in 2017 by 2.2 percent.
  • A 17 percent gain in clean power such as solar and wind did little to offset the dominance of fossil fuels in the rapidly expanding global economy.
  • Demand for hydrocarbons rose across the board, led by a 3 percent increase in natural gas consumption, the fastest since 2010.
  • Demand for oil rose 1.8 percent, far more than in the previous 10 years.
  • Use of coal increased for the first time since 2013, by 1 percent, driven largely by India and China.
  • The share of coal in power generation today remains around 38 percent, practically unchanged since 1997.
  • The share of non-fossil fuels slightly dipped as nuclear power capacity shrank.
  • Power generation accounts for over a third of carbon emissions.
  • Carbon emissions grew last year by 1.6 percent, compared with little to no growth in the previous three years but still lower than average growth of 2.5 percent in the 10 years prior to 2014.
  • Crude oil prices were the highest they've been since 2014.
  • Thanks to shale oil, the United States overtook Saudi Arabia in 2017 to become the world's second-biggest oil producer behind Russia.
  • In response to U.S. output, OPEC, Russia and other major oil producers reduced their global output by 1.8 million barrels per day to limit inventories and shore up prices.
  • But U.S. production growth of 2 million barrels per day of oil and natural gas liquids since October 2016 offset a large part of those cuts.

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