A year of disruption and growth rocked the global energy markets: The 2012 BP annual report highlights supply disruptions and ever-increasing demand as the two big energy stories of 2011. Major disruptions included the 'Arab Spring', which squeezed oil and gas supplies - including the complete and temporary loss of Libya's oil and gas; and the tragic Fukushima accident in Japan which had knock-on effects for fossil fuel energy sources around the world. Watch a short video that animates the report's highlights.
While the large shocks pushed energy prices higher in much of the world, with oil reaching a record average of over $100 per barrel, relentless long-term trends continued: global energy consumption growth of 2.5%, with emerging economies expanding their share of the total. OECD countries' energy demand actually shrank by around 0.8% last year. Here is the web page for BP's Review of World Energy 2012.