General Question

amt1's avatar

How much money did the world spend on oil/petroleum in 2009?

Asked by amt1 (56points) February 27th, 2010

I want to know the total revenue all the oil/petroleum industries in the world make in a year, or in 2009. Basically, how much money does the entire world spend on oil every year. I’m sure it’s several trillion dollars. Does anyone know? I’ve literally looked for two hours and that seemingly simple figure is no where to be found.

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8 Answers

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amt1's avatar

Let me clarify for those of you who don’t/didn’t read the entire question, I want to know the TOTAL amount of money spent(in dollars) in the ENTIRE world. So basically you take every single company in the world that sells oil and petroleum products and add all of their revenues for the year, and that would be the amount I’m trying to figure out.


jrpowell's avatar

That is difficult to calculate. Oil goes through so many sellers you have to pick a point. Are you just talking about petrol? Or all oil? Oil is used to make that plastic bag you carry your groceries home in. Or just the value of all oil once it is pulled out of the ground?

Your best bet is to look at this. We will probably never get a good answer.

Axemusica's avatar

@amt1 I’m sorry I failed to read in your details that you wanted every single store in the world that has a can of oil on their shelf. Although, a highly more difficult question to answer, it just doesn’t sound like a shoot, fire, hit – wam bam thank you ma’am type of question. So good luck.

amt1's avatar

I’m only wondering about oil used in terms of energy. Not byproducts. I’m wondering because I was looking at Fortune’s list of top companies and 7 of the top 10 are oil companies and they had a combined total revenue of 2.2 Trillion. But there are a lot of companies so it has to be more than that… right?

LuckyGuy's avatar

The world used 73M barrels per day in 2008. Source
At $80 per barrel that comes to 73Mx 365×80 = $2.13 Trillion in 2008.
You can play with the price per barrel.

amt1's avatar

That’s a good idea, but that’s just crude oil. The price goes up after they refine it into the various fuel forms, like gasoline and diesel. I wonder if they have figures of the post production crude oil use.

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