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VIENNA, AUSTRIA - JUNE 23: Saudi Arabian Energy Minister Khalid Al Falih, attends a news conference after a meeting of the 4th Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC Ministerial Meeting in Vienna, Austria on June 23, 2018. (Photo by Askin Kiyagan/Anadolu Agency/Getty Images)
In the previous article, Asia's Insatiable Oil Demand, I covered global and regional oil consumption numbers according to the recently-released 2018 BP Statistical Review of World Energy.
To recap, global oil consumption rose to a new record high in 2018, and has now increased in 31 of the past 34 years. Over the past decade, global oil consumption has increased by 11.1 million barrels per day (BPD). The primary driver behind the past decade's demand jump is the Asia Pacific region, which was the source of 77% of the world's demand growth over that time.
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