| Barrels | Global Rank | |
|---|---|---|
| Oil Reserves | 1,193,000,000 | #38 in the world |
| Barrels per day | Global Rank | |
|---|---|---|
| Oil Production | 373,728 | #31 in the world |
| Oil Consumption | 1,114,645 | #20 in the world |
| Daily Deficit | −740,916 | |
| Oil Imports | 302,855 | |
| Oil Exports | 215,925 | |
| Net Imports | 86,930 |
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).
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]
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).