Commodities are the raw materials that are essential for the functioning of modern economies. They are the backbone of many industries and are used to manufacture a wide range of products that we use in our daily lives. While there are many different types of commodities, some are more in demand than others. In this article, we will explore the top 5 most demanded commodities in the world.

Crude Oil
Crude oil is the most demanded commodity in the world, with a daily consumption of around 100 million barrels. It is used to fuel transportation and to generate electricity. It is also used as a feedstock to produce a wide range of products such as plastics, fertilizers, and pharmaceuticals. The top producers of crude oil are the United States, Saudi Arabia, and Russia.

Natural Gas
Natural gas is the second most demanded commodity in the world, with a daily consumption of around 3.5 trillion cubic feet. It is used to generate electricity and as a feedstock to produce petrochemicals and fertilizers. It is also used for heating and cooking. The top producers of natural gas are the United States, Russia, and Iran.

Coal
Coal is the third most demanded commodity in the world, with a daily consumption of around 8 billion tons. It is used to generate electricity and as a feedstock to produce steel and cement. It is also used for heating and cooking. The top producers of coal are China, India, and the United States.

Iron Ore
Iron ore is the fourth most demanded commodity in the world, with an annual production of around 2.5 billion tons. It is used to produce steel, which is used in construction, transportation, and various other industries. The top producers of iron ore are Australia, Brazil, and China.

Copper
Copper is the fifth most demanded commodity in the world, with an annual production of around 20 million tons. It is used to produce electrical wires, plumbing pipes, and various other products. It is also used in the construction industry. The top producers of copper are Chile, Peru, and China.

Commodities play a vital role in the global economy. The demand for commodities is driven by the needs of various industries and consumers. While there are many different types of commodities, some are more in demand than others. The top 5 most demanded commodities in the world are crude oil, natural gas, coal, iron ore, and copper.