Peak energy

Global demand for energy picked up last year following the recession and reached its highest level ever, as China overtook the US to become the world's largest consumer.

BP's 60th annual statistical review of world energy, published yesterday, said the post-recession boom in demand was broad based and included all forms of energy.

Consumption growth reached 5.6 per cent, the highest rate since 1973. Total consumption of energy in 2010 easily surpassed the pre-recession peak reached in 2008.

Oil remains the world's leading fuel, at 33.6 per cent of global energy consumption, although its share is falling.

World reserves increased again last year as the energy industry found more new oil than it extracted.