Australia Oil

Oil Reserves in Australia

See also: List of countries by Oil Reserves

Australia holds 1,193,000,000 barrels of proven oil reserves in the world as of 2016, ranking #38 in the world and accounting for about 0.072% of the world's total oil reserves of 1,650,585,140,000.

Australia has proven reserves equivalent to 2.9 times its annual consumption levels. This means that, without imports, there would be about 3 years of oil left (at current consumption levels and excluding unproven reserves).

History of Oil Reserves in Australia

Oil Consumption in Australia

See also: List of countries by Oil Consumption

• Australia consumes 1,114,645 barrels per day (B/d) of oil as of the year 2016.
• Australia ranks #20 in the world for oil consumption, accounting for about 1.15% of the world's total consumption of 97,103,871 barrels per day.
• Australia consumes 1.92 gallons of oil per capita every day (based on the 2016 population of 24,329,963 people), or 702 gallons per capita per year (17 barrels). [1 barrel = 42 US Gallons]

Oil Production in Australia

See also: List of countries by Oil Production

• Australia produces 373,728 barrels per day of oil (as of 2016) ranking #31 in the world.
• Australia produces every year an amount equivalent to 11.43% of its total proven reserves (as of 2016).

Oil Imports

• Australia imports 8% of its oil consumption (86,930 barrels per day in 2016).

History of Oil Consumption and Production