It was a "turbulent year" for global oil markets according to BP's Statistical Review of World Energy. Libya's civil war and the Arab spring played a part in crimping supplies and prices rose by 40 per cent.
Brent crude reached its highest-ever average price at $111 a barrel for the year.
Let's take a look at the biggest rise and fall in oil production and consumption in the world.
Source: The Economist
The figures show change in oil production over 2010
...
Saudi Arabia
Increase in production (2011): 1.2 million barrels per day
Global rank: 1
...
The United Arab Emirates
Increase in production (2011): 450,000 barrels per day
Global rank: 2
...
Kuwait
Increase in production (2011): 330,000 barrels per day
Global rank: 3
...
Iraq
Increase in production (2011): 310,000 barrels per day
Global rank: 4
...
The United States
Increase in production (2011): 280,000 barrels per day
Global rank: 5
...
Norway
Decline in production (2011): 100,000 barrels per day
Global rank: 6
...
Azerbaijan
Decline in production (2011): 110,000 barrels per day
Global rank: 7
...
Angola
Decline in production (2011): 130,000 barrels per day
Global rank: 8
...
The United Kingdom
Decline in production (2011): 230,000 barrels per day
Global rank: 9
...
Libya
Decline in production (2011): 1.1 million barrels per day
Global rank: 10
Click NEXT to see the biggest oil consumers in the world...
China
Increase in consumption (2011): 505,000 barrels per day
Global rank: 1
...
Russia
Increase in consumption (2011): 140,000 barrels per day
Global rank: 2
...
India
Increase in consumption (2011): 120,000 barrels per day
Global rank: 3
...
Saudi Arabia
Increase in consumption (2011): 105,000 barrels per day
Global rank: 4
...
The United Arab Emirates
Increase in consumption (2011): 50,000 barrels per day
Global rank: 5
...
Spain
Decline in consumption (2011): 40,000 barrels per day
Global rank: 6
...
Iran
Decline in consumption (2011): 50,000 barrels per day
Global rank: 7
...
Taiwan
Decline in consumption (2011): 70,000 barrels per day
Global rank: 8
...
Germany
Decline in consumption (2011): 80,000 barrels per day
Global rank: 9
...
The United States
Decline in consumption (2011): 330,000 barrels per day
Global rank: 10
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