Chart of the week: a picture of world oil | beyondbrics

Falling demand amid the eurozone crisis and increased production by Saudi Arabia have pushed down oil prices in recent weeks. But oil still averages over $100 a barrel for the past 18 months.  Oil is crucial to the world’s energy supply, representing a third of global energy consumption – the largest component.

So who produces it, who uses it, who has it? And how do emerging markets compare to developed economies? Chart of the week takes a look.

Last week saw the publication of BP’s World Statistical Review 2012, a highly-regarded industry overview. We have selected the top five oil consumers, producers and holders of proven reserves, a list that overlaps a fair bit, to give 11 countries.

In that 11, there are three developed economies (US, Canada, Japan), six emerging markets (Brazil, Russia, India, China, Venezuela and Saudi Arabia), and two frontier markets (Iran and Iraq).

* username: rupertbu