The significance of oil as a resource
In 2013 global oil production was around 94mil bbl/d (barrels per-day). Oil producing countries are divided into OPEC(Qatar,
Libya, Ecuador) and non-OPEC(US, Russia, Norway) countries. OPEC oil production averaged at 30.0 million bbl/d in 2013, a drop from the previous year, primarily reflecting increased outages in Libya, Nigeria, and Iraq. Non-OPEC oil production averaged about 54 million bbl/d in 2013.
Oil reserves are divided into conventional and unconventional
Oil that comes in liquid form which is transportable and possible to refine. It represents the form that is the most desirable to extract since it is of high quality.
Oil that comes in other forms that is much more difficult to extract, let it be in deep waters or as oil shale, and of lower quality.
The largest industrial use of oil is standard gasoline and diesel. Any industry that needs to move something from one place to another uses gasoline to do so.
Residual oil is used for things like plastic bags, asphalt, polyester and makeup. Global oil consumption in 2013 averaged at about 96 million barrels per day.