Oil consumption hits all-time high.

• Position: Your Life - Brief article

Global oil consumption has reached an all-time high of 87,400,000 barrels per day, according to a report from the Worldwatch Institute, Washington, D.C. The 3.1% increase more than makes up for the brief decline in consumption caused by the economic crisis.

"Between the recession, the BP oil spill, and the instability in the Middle East and North Africa, oil markets have been on a roller coaster for the last few years," explains Saya Kitasei, coauthor of the report. "When the dust settles, however, it is clear that the momentum of future market growth has moved to the developing world, where oil consumption did not miss a beat during the recession and shows no sign of slowing."

Key findings from the annual report include:

* Oil consumption in countries belonging to the Organisation for Economic Cooperation and Development was more than seven percent lower in 2010 than in 2005, while consumption in...