In 2024, China leads with significant petroleum support at 27.62 billion USD. Russia follows with 14.65 billion USD, despite a slight decrease of 0.97%. The United Kingdom shows strong growth with a 9.18% increase. Other notable contributors are India, France, and Italy, with France experiencing a modest 3.99% rise. Meanwhile, Brazil saw a sharp decline of 56.38%. Overall, there are mixed trends with key economies having varied year-on-year shifts.
Future trends to watch include a potential increase in renewable energy investments, fluctuating oil prices, and geopolitical influences impacting global petroleum subsidies. Shifts towards sustainable energy may influence future allocations significantly.
Top countries in Total Support on Petroleum for All Beneficiaries or Sectors by Country
| # | 10 Countries | Million US Dollars, Constant = 2020 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 27,620 | 2023 | -1.28% | +1.73% | View data |
| 2 | 2 Russia | 14,650 | 2023 | +14.04% | -0.97% | View data |
| 3 | 3 United Kingdom | 12,000 | 2023 | +8.75% | +9.18% | View data |
| 4 | 4 India | 11,330 | 2023 | +5.11% | -2.48% | View data |
| 5 | 5 France | 9,250 | 2023 | +4.69% | +3.99% | View data |
| 6 | 6 Italy | 8,640 | 2023 | +2.86% | +2.3% | View data |
| 7 | 7 Australia | 7,320 | 2023 | +4.83% | +3.39% | View data |
| 8 | 8 Argentina | 6,580 | 2023 | +5.51% | +5.12% | View data |
| 9 | 9 Mexico | 5,130 | 2023 | +2.67% | +16.78% | View data |
| 10 | 10 United States | 4,130 | 2023 | -3.2% | +4.4% | View data |
