After rocking petroleum markets with its massive shale gas production, the U.S. has now become the top petroleum producer in the world, passing Saudi Arabia. According to the British Petroleum World Energy Statistics Report, global petroleum production - not including the Organization of the Petroleum Exporting Countries (OPEC) - increased by twice the global consumption to reach 2.1 million barrels per day. Production increased by 310,000 barrels per day in the U.S. and Canada and 230,000 barrels per day in Brazil to reach a 2014-high level. OPEC's petroleum production remained at the same level, thus their share in global production fell to 41 percent - their lowest share since 2003.
The report said the lowest ratio of increase in consumption of main energy sources since the 1990s was recorded in 2014 at 0.9 percent, except for the period after the 2008 financial crisis.
Petroleum consumption in Turkey increased by 0.5 percent in 2014 compared to the previous year to reach 724,000 barrels per day. Turkey's natural gas consumption also increased in 2014 by 6.5 percent to reach 48.6 billion cubic meters. However, the greatest increase occurred in renewable energy sources where Turkey's consumption leaped by 21 percent.
China remains the country with the highest increase in petroleum consumption. BP Group CEO Bob Dudley's assessment on the report was that the disturbing silence in the energy markets before 2014, which lasted for a few years, briskly came to a halt at the end of 2014.
