Markets · Oil, Gas & Electricity

One barrel, many prices.

Crude clears in a single world market — Brent is Brent in Houston, Rotterdam and Mumbai. But between the wellhead and the wallet, refining, grids, taxes and subsidies split one price into many. This page follows the money end to end: what the world burns, how each region turns it into power, and what it costs when it finally arrives.

BRENT$95.07/bbl WTI$90.62/bbl CRUDE, PER LITRE$0.60/L

Live data — volumes and mixes from OWID; pump prices from the EU Weekly Oil Bulletin and Grok research; crude benchmarks from the daily commodity feed. Each chart shows its own collection date.

Demand & supply

what the world burns, and who makes it

Daily oil, yearly gas and power: the world's running tab, who runs it up — and, beside each, who pumps, drills and generates it.

Oil consumption

Million barrels per day (EI inland demand + bunkers; excludes biofuels), 2024

OWID · data 2024 · collected Sep 4, 2026

WORLD 101.4 mb/d

Oil production

Million barrels per day, crude, condensate & NGLs (EI million tonnes at a single global 7.33 bbl/t — a density approximation, not country API gravity, so country figures and the world gap vs demand are slightly off EI’s own barrel-basis production). World production and demand also need not match for stock changes, coal/gas-derived liquids in demand, and measurement differences

OWID · data 2024 · collected Sep 4, 2026

WORLD 91.2 mb/d

Gas consumption

Billion cubic metres per year, 2024

OWID · data 2024 · collected Sep 4, 2026

WORLD 4,225 bcm

Gas production

Billion cubic metres per year, 2024 — marketed production; world output matches world demand

OWID · data 2024 · collected Sep 4, 2026

WORLD 4,222 bcm

Electricity consumption

Terawatt-hours per year, 2024

OWID · data 2024–2025 · collected Sep 4, 2026

WORLD 31,772 TWh

Electricity production

Terawatt-hours per year, 2024 — some 2,350 TWh more than is consumed: the wires take their cut in transmission losses

OWID · data 2024–2025 · collected Sep 4, 2026

WORLD 31,772 TWh
The balance

who ships, who buys

Net trade position per economy — bars to the right export, bars to the left import. Add the world up and trade nets to zero: every barrel shipped is a barrel received, so there is no world row here. Note the islands on the electricity chart: Japan, South Korea, Taiwan and Australia have no interconnectors, so they trade nothing at any price.

Energy — net trade

Net exports as % of primary energy consumption, 2024

OWID · data 2024–2025 · collected Sep 4, 2026

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Oil — net trade

Million barrels per day, crude & products, 2024

OWID · data 2024–2025 · collected Sep 4, 2026

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Gas — net trade

Billion cubic metres per year, pipeline + LNG, 2024

OWID · data 2024–2025 · collected Sep 4, 2026

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Electricity — net trade

Terawatt-hours per year across interconnectors, 2024

OWID · data 2024–2025 · collected Sep 4, 2026

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The mix

how each region makes its energy

Primary energy tells you what gets burned; the power mix tells you what's behind each socket. China and India run on coal, Russia on its own gas, France on uranium, Brazil on rivers.

Energy mix — total consumption

Share of primary energy, 2024 (%)

OWID · data 2024 · collected Sep 4, 2026

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Electricity production mix

Share of generation, 2024 (%)

OWID · data 2024–2025 · collected Sep 4, 2026

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Prices

what it costs when it arrives

The same molecule, taxed and delivered twenty-three different ways. Note where the funnel inverts: across much of Asia and the Gulf, the household pays less than the factory.

Crude benchmarks

USD per barrel — last 24 months

BRENT $95.07 North Sea, seaborne benchmark
WTI $90.62 Cushing, US inland benchmark

A barrel is 159 litres — at $95.07, the molecules in a litre of petrol cost $0.60 before anyone refines, ships or taxes them. Everything beyond that, in the chart below, is the funnel.

Commodity feed (yfinance) · spot Sep 4, 2026

Petrol at the pump

USD per litre, mid-grade gasoline — same crude, different funnel. EU rows from the Weekly Oil Bulletin (EUR, converted at the latest FX rate); others researched via Grok. 🌍 World is a volume-weighted average.

EU Oil Bulletin + Grok · prices Aug 31 – Sep 4, 2026 · collected Sep 4, 2026

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Electricity — industry vs. households

US cents per kWh. Every grid sets its own price — 🌍 World is a consumption-weighted average.

Grok · prices Sep 4, 2026 · collected Sep 4, 2026

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Sources: Our World in Data, the EU Weekly Oil Bulletin, and Grok research. Each chart shows the date its data was collected.