Key information about United States Oil Consumption

• United States Oil Consumption was reported at 18,983.557 Barrel/Day th in Dec 2023
• This records an increase from the previous number of 18,862.210 Barrel/Day th for Dec 2022
• US Oil Consumption data is updated yearly, averaging 17,634.400 Barrel/Day th from Dec 1965 to 2023, with 59 observations
• The data reached an all-time high of 20,531.482 Barrel/Day th in 2005 and a record low of 11,512.436 Barrel/Day th in 1965
• US Oil Consumption data remains active status in CEIC and is reported by BP PLC
• The data is categorized under World Trend Plus’s Association: Energy Sector – Table RB.BP.OIL: Oil: Consumption

In 2024, the United States consumed nearly ** million barrels of oil daily. In comparison to the previous year, figures decreased by around *** percent. Within the period of consideration, the figure peaked at **** million barrels of oil daily in 2005. The U.S. is the country with the highest oil consumption in the world. Domestic production U.S. oil production saw a noticeable growth after the Great Recession, as the energy industry developed extraction technologies to reduce the need to import high-priced oil. In 2021, domestic production amounted to **** million barrels per day, while figures in 2008 stood at *** million barrels per day. Texas is by far the leading crude oil producing state, with an annual production of *** billion barrels in 2024. New Mexico was the second largest producer, at a third of Texas’ production. American oil companies As of June 2025, ExxonMobil had the highest market capitalization of any oil and gas producer in the world. Chevron and ConocoPhillips were also among the top 10 oil and gas companies worldwide based on market value, ranking ****** and ******** respectively. ExxonMobil was founded in 1999, as a merger of Exxon and Mobil, formerly the Standard Oil Company of New Jersey and Standard Oil Company of New York, respectively. ExxonMobil is headquartered in Irving, Texas (although it has recently announced it will move its headquarters further South to its Houston campus) and generated an operating revenue of *** billion U.S. dollars in 2023. This figure represented an increase in comparison to 2021, when the company’s revenue dropped as a consequence of the coronavirus pandemic.

The transportation sector is the greatest consumer of petroleum in the United States. In 2024, it was responsible for the consumption of roughly 13.8 million barrels of petroleum per day. The industrial sector followed, using an average of 5.4 million barrels per day.

The United States consumed 23.5 million barrels of petroleum and petroleum products per day in 2024. This figure represents an increase compared to the previous two years. Overall, petroleum use in the U.S. grew within the period of consideration.

The USA: Diesel and heating oil consumption, thousand barrels per day: The latest value from 2023 is 3916.13 thousand barrels per day, a decline from 4025.57 thousand barrels per day in 2022. In comparison, the world average is 145.86 thousand barrels per day, based on data from 190 countries. Historically, the average for the USA from 1980 to 2023 is 3535.25 thousand barrels per day. The minimum value, 2670.86 thousand barrels per day, was reached in 1982 while the maximum of 4195.91 thousand barrels per day was recorded in 2007.

The United States consumed ******million metric tons of oil in 2024. This represented a slight increase in comparison to the previous year. Oil consumption in the United States reaxhed a record low in 2020. Liquid fuels are the country's main energy source.

The USA: Oil consumption, thousand barrels per day: The latest value from 2014 is 19106 thousand barrels per day, an increase from 18961 thousand barrels per day in 2013. In comparison, the world average is 444.70 thousand barrels per day, based on data from 210 countries. Historically, the average for the USA from 1980 to 2014 is 18181.71 thousand barrels per day. The minimum value, 15231 thousand barrels per day, was reached in 1983 while the maximum of 20802 thousand barrels per day was recorded in 2005.

In 2023, the United States consumed nearly 19 million barrels of oil daily. In comparison to the previous year, figures increased by around 0.6 percent. Within the period of consideration the figure peaked at 20.8 million barrels of oil daily in 2005. The U.S. is the country with the highest oil consumption in the world. Domestic production U.S. oil production saw a noticeable growth after the Great Recession, as the energy industry developed extraction technologies to reduce the need to import high-priced oil. In 2021, domestic production amounted to 16.6 million barrels per day, while figures in 2008 stood at 6.8 million barrels per day. Texas is by far the leading crude oil producing state, with an annual production of two billion barrels in 2023. New Mexico was the second largest producer, at a quarter of Texas’ production. American oil companies As of June 2024, ExxonMobil had the highest market capitalization of any oil and gas producer in the world. Chevron and ConocoPhillips were also among the top 10 oil and gas companies worldwide based on market value, ranking second and seventh, respectively. ExxonMobil was founded in 1999, as a merger of Exxon and Mobil, formerly the Standard Oil Company of New Jersey and Standard Oil Company of New York, respectively. ExxonMobil is headquartered in Irving, Texas (although it has recently announced it will move it's headquarters further South to its Houston campus) and generated an operating revenue of 344 billion U.S. dollars in 2023. This figure represented an increase in comparison to 2021, when the company’s revenue dropped as a consequence of the coronavirus pandemic.

The global demand for crude oil (including biofuels) in 2024 amounted to 103.75 million barrels per day. The source expects economic activity and related oil demand to pick up by the end of the year, with forecast suggesting it could increase to more than 105 million barrels per day. Motor fuels make up majority of oil demand Oil is an important and versatile substance, used in different ways and in different forms for many applications. The road sector is the largest oil consuming sector worldwide. It accounts for nearly one half of the global demand for oil, largely due to reliance on motor spirits made from petroleum. The OPEC projects global oil product demand to reach 120 million barrels per day by 2050, with transportation fuels such as gasoline and diesel expected to remain the most consumed products. Diesel and gasoil demand is forecast to amount to 32.5 million barrels per day in 2050, up from 29 million barrels in 2023. Gasoline demand is forecast at 27 million barrels by 2050. Differences in forecast oil demand widen between major energy institutions Despite oil producing bodies such as the OPEC seeing continued importance for crude oil in the future, other forecast centers have been more moderate in their demand outlooks. For example, between the EIA, IEA, and OPEC, the latter was the only one to expect significant growth for oil demand until 2030.

The average for 2022 based on 25 countries was 204.82 thousand barrels per day. The highest value was in the USA: 4025.57 thousand barrels per day and the lowest value was in Montserrat: 0.09 thousand barrels per day. The indicator is available from 1980 to 2023. Below is a chart for all countries where data are available.

The average for 2014 based on 21 countries was 422.29 thousand barrels per day. The highest value was in Brazil: 3144 thousand barrels per day and the lowest value was in Haiti: 18 thousand barrels per day. The indicator is available from 1980 to 2014. Below is a chart for all countries where data are available.

The average for 2014 based on 26 countries was 944.73 thousand barrels per day. The highest value was in the USA: 19106 thousand barrels per day and the lowest value was in Montserrat: 0.6 thousand barrels per day. The indicator is available from 1980 to 2014. Below is a chart for all countries where data are available.

États-Unis: Oil consumption, thousand barrels per day: Pour cet indicateur, The U.S. Energy Information Administration fournit des données pour la États-Unis de 1980 à 2014. La valeur moyenne pour États-Unis pendant cette période était de 18181.71 thousand barrels per day avec un minimum de 15231 thousand barrels per day en 1983 et un maximum de 20802 thousand barrels per day en 2005.

The United States and China are the top largest consumers of oil in the world, totaling ********** and ************ barrels per day, respectively. In the last decade, the share of global oil consumption from Europe and North America have begun to decline, whereas consumption levels from Asia Pacific and other regions have risen. As other sources of energy become more cost effective and due to the prominence of new transportation technologies, oil consumption worldwide is expected to reach a peak in the near future. Refining oil Crude oil is refined into petroleum products, such as gasoline and diesel fuel, and used for a wide variety of products, although many refineries focus on transportation fuels. Generally, crude oil feedstocks are processed by an oil production plant and is an essential part of the downstream petroleum industry.

Mali: Oil consumption, thousand barrels per day: Pour cet indicateur, The U.S. Energy Information Administration fournit des données pour la Mali de 1980 à 2014. La valeur moyenne pour Mali pendant cette période était de 3.93 thousand barrels per day avec un minimum de 1.6 thousand barrels per day en 1988 et un maximum de 7.5 thousand barrels per day en 2013.

Paraguay: Oil consumption, thousand barrels per day: Pour cet indicateur, The U.S. Energy Information Administration fournit des données pour la Paraguay de 1980 à 2014. La valeur moyenne pour Paraguay pendant cette période était de 21.33 thousand barrels per day avec un minimum de 9 thousand barrels per day en 1982 et un maximum de 36 thousand barrels per day en 2012.

Honduras: Oil consumption, thousand barrels per day: Pour cet indicateur, The U.S. Energy Information Administration fournit des données pour la Honduras de 1980 à 2014. La valeur moyenne pour Honduras pendant cette période était de 28.71 thousand barrels per day avec un minimum de 11 thousand barrels per day en 1981 et un maximum de 53 thousand barrels per day en 2014.

Tchad: Oil consumption, thousand barrels per day: Pour cet indicateur, The U.S. Energy Information Administration fournit des données pour la Tchad de 1980 à 2014. La valeur moyenne pour Tchad pendant cette période était de 1.59 thousand barrels per day avec un minimum de 0.9 thousand barrels per day en 1984 et un maximum de 2.4 thousand barrels per day en 1990.

Haïti: Oil consumption, thousand barrels per day: Pour cet indicateur, The U.S. Energy Information Administration fournit des données pour la Haïti de 1980 à 2014. La valeur moyenne pour Haïti pendant cette période était de 9.39 thousand barrels per day avec un minimum de 3.7 thousand barrels per day en 1994 et un maximum de 18 thousand barrels per day en 2014.

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