The data on Global Total Support on Petroleum for Consumers indicates that in 2023, China led with significant support at $25.45 billion, followed by India and various European countries like France, Italy, and the United Kingdom. Notably, China and Russia exhibited positive growth, while many other countries experienced declines. Western countries like the United States, Germany, and Spain faced reductions in petroleum support, highlighting shifting priorities. Noteworthy is Ukraine's massive increase by over 31%, reflecting geopolitical influences.
Future trends to monitor include the transition towards renewable energy sources which may diminish petroleum support, global economic fluctuations that can impact support levels, and potential policy changes as countries aim for sustainability. Moreover, regional developments and geopolitical factors will dictate the dynamics of consumer support in the energy sector, suggesting a shift towards diverse energy portfolios.
Top countries in Total Support on Petroleum for Consumers by Country
| # | 10 Countries | Million US Dollars, Constant = 2020 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 25,450 | 2023 | -1.17% | +1.59% | View data |
| 2 | 2 India | 11,150 | 2023 | +5.88% | -2.65% | View data |
| 3 | 3 France | 8,950 | 2023 | +4.68% | +4.07% | View data |
| 4 | 4 Italy | 8,370 | 2023 | +2.94% | +1.98% | View data |
| 5 | 5 United Kingdom | 8,120 | 2023 | +9.86% | +7.63% | View data |
| 6 | 6 Argentina | 5,490 | 2023 | +4.97% | +4.5% | View data |
| 7 | 7 Australia | 4,660 | 2023 | +4.36% | +2.74% | View data |
| 8 | 8 Belgium | 3,470 | 2023 | +2% | +1.49% | View data |
| 9 | 9 South Africa | 2,550 | 2023 | +6.82% | +2.52% | View data |
| 10 | 10 Switzerland | 2,500 | 2023 | +11.55% | +0.87% | View data |
