The US expansion was made possible by voluntary production cuts by OPEC. The US dominance in natural gas is even greater.
Die USA have maintained their dominance on the global Oil market expanded further last year. One fifth of the crude oil produced worldwide came from there in 2023; including Canada and Mexico, North America’s share is 28 percent.
As in previous years, the battle for second place Russia and Saudi Arabian with shares between eleven and twelve percent, results from the Statistical Review of World Energy (see info box) des Energy Institute (EI).
“In 2023, there was record fossil fuel consumption and record emissions from energy, but also record renewable energy generation, said EI PresidentJuliet Davenport.
The fact that the USA was able to increase its oil production (by 8.5 percent) and further expand its market share is mainly thanks to Saudi Arabia. The country has Ölkartell OPEC (see info box) Production cuts were implemented to support prices – and American producers in particular benefited from this.
The USA is also the top dog when it comes to natural gas. At 25.5 percent, the lead is even greater. Russia, which has lost several major customers in Europe since the start of the war of aggression against Ukraine, contributed 14.4 percent, while the Middle East as a whole accounted for 17.6 percent.
The effect of this dominance in production is that North America has an energy export surplus, even though its average per capita consumption is the highest in the world. Asia and Europe, on the other hand, are net importers.
Emissions rise to record high
The biggest increases last year were in renewable energy sources. Nevertheless, 81.5 percent of global primary energy consumption is still accounted for by oil, natural gas and coal. This is also due to the fact that overall energy demand has continued to grow.
“The transition is progressing slowly,” said EI Managing Director Nick WaythHowever, it is taking place in very different regions. In advanced economies, there are increasing signs that demand for fossil fuels is reaching its peak. In the global South, however, economic progress and improvements in the quality of life are further boosting demand.
As the world’s hunger for energy has increased, emissions have also increased. Greenhouse gas emissions rose again by two percent compared to the record year of 2022. China accounted for the largest share at 32 percent, followed by the USA with 16 percent, while Europe accounts for 10 percent of greenhouse gas emissions from the energy sector.