World oil production growth in 2015 significantly exceeded the growth in oil consumption for a second consecutive year. Production grew by 2.8 million b/d, led by
increases in the Middle East (+1.5 million b/d) and North America (+0.9 million b/d). Global oil consumption increased by 1.9 million b/d, nearly double the 10-year average,
with above-average growth driven by OECD countries. The Asia Pacific region accounted for 74% of global growth, with China once again contributing the largest national
increment to global oil consumption growth (+770,000 b/d).