Zambia recorded the highest growth rate in its cost of CO2 emission in 2020
The cost of damage caused by carbon dioxide emissions from fossil fuels in Zambia increased from 0.46% in 2009 to 1.77% in 2021. As of 2023, the southern African nation's population was estimated to be 20.6 million individuals.
Global oil consumption rose from about 30.9 million barrels per day in 1965 to 101.4 million barrels per day in 2024, more than tripling over the period.
Asia Pacific saw the biggest structural shift in global oil demand, increasing its share from 10.7% in 1965 to 37.9% in 2024 to become the world’s largest oil-consuming region.
Africa accounted for just 1.9% of global oil consumption in 1965 and 4.5% in 2024, staying below 5% for nearly 60 years.
The global centre of oil demand has gradually shifted away from Western economies toward Asia, reflecting industrialisation, urbanisation, and population growth across the region.
Africa’s modest share of global oil demand highlights the continent’s relatively low industrial energy consumption despite rapid population growth.