The 15 Countries That Are Getting Buried By This Oil Spike

Oil Well derrick


Oil prices have surged back at the sight of a global rally in trade. With every leading indicator, from shipping to manufacturing data, pointing towards a global return to growth, oil inevitably follows the trend.

Now some countries around the world are starting to shake and worry about the impact a price rise will have on their economies, many of which are far too reliant on imported oil.

Here are those countries that will get slammed >

Ukraine: 5.42 barrels per day per 1000 people

The Ukraine's relationship with Russia over oil leads to near yearly crises over exports, in which Russia holds the Ukraine to ransom over pricing.

Source: and Reuters

South Africa: 5.82 barrels per day per 1000 people

A new oil pipeline from Mozambique to South Africa is meant to be completed in 2011 and deliver significant supply to the Johannesburg area.

Source: and Petroline Holdings

Turkey: 8.39 barrels per day per 1000 people

Turkey's geo-strategic position establishes it as a gateway for oil from the Middle East to European markets. It will shortly be tapping into that potential, with several pipeline projects meant to run through the country.

Source: and

Thailand: 8.41 barrels per day per 1000 people

Thailand may have 290 million barrels in reserve, but imports more oil than nearly every other country in South East Asia.

Source: and Mbendi Information Services

Australia: 11.90 barrels per day per 1000 people

Australian domestic oil production is likely to cease before 2030 as the country runs out of supplies.

Source: and The M. King Hubbert centre

Panama: 18.15 barrels per day per 1000 people

Panama ranks 100 in the list of oil exporting countries, behind other limited producers like Puerto Rico and Austria.

Source: and Index Mundi

Italy: 29.09 barrels per day per 1000 people

Italian spending on oil is likely to rise by 36% on the back of higher prices and the closure of some refineries.

Source: and Bloomberg

France: 30.50 barrels per day per 1000 people

French energy giant Total has an interest in Iranian oil, which may be halted by expanding sanctions on Iran.

Source: and BBC

Germany: 31.54 barrels per day per 1000 people

Germany relies on Russia for much of its energy imports including oil, a relationship which has been tightened by the announced Nord Stream natural gas pipeline.

Source:, Wiki, and OilGasArticles

United States: 35.17 barrels per day per 1000 people

The U.S. has significant oil resources untapped, particularly in Alaska where controversy has arisen over environmental issues.

Source:, EIA, and Wiki

Guatemala: 35.54 barrels per day per 1000 people

Guatemala is a member of Hugo Chavez's energy alliance and is planning on opening a refinery next year.

Source: and Up Stream Online

Spain: 37.18 barrels per day per 1000 people

Spain demands more than 12% of developed Europe's oil, but contributes nothing to its supply.

Source: and Mindbranch

Greece: 37.21 barrels per day per 1000 people

Similar to Spain, Greece produces nothing in terms of European oil supply, but has 3.45% of the developed European market demand.

Source: and

Japan: 41.60 barrels per day per 1000 people

Iran is a key oil partner of Japan and in 2009 accounted for 12% of Japan's import supply.

Source: and

Israel: 43.50 barrels per day per 1000 people

Not surprisingly, they're far and away the most vulnerable.

Source: and Israel National News

Here are the 15 oil and gas pipelines that are changing the world's strategic map

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.