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.

This statistic shows the daily oil consumption worldwide from 1980 to 2008, with forecasted figures for 2015 and 2030. In 2008, global oil consumption amounted to ** million barrels a day. It is forecasted that the global consumption of oil will amount to some *** million barrels per day in 2030.

OECD Americas is the region with the greatest oil demand, followed by China. In 2023, daily oil demand in the OECD Americas amounted to 25 million barrels. This figure is set to decrease to 21.5 million barrels by 2050, although it would remain the largest oil consuming region. India is forecast to see the greatest growth in daily oil demand, with figures expected to double by 2050.

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.

Key information about China Oil Consumption

• China Oil Consumption was reported at 16,373.508 Barrel/Day th in Dec 2024
• This records a decrease from the previous number of 16,578.655 Barrel/Day th for Dec 2023
• China Oil Consumption data is updated yearly, averaging 2,965.072 Barrel/Day th from Dec 1965 to 2024, with 60 observations
• The data reached an all-time high of 16,578.655 Barrel/Day th in 2023 and a record low of 215.494 Barrel/Day th in 1965
• China 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

Key information about Germany Oil Consumption

• Germany Oil Consumption was reported at 2,051.450 Barrel/Day th in Dec 2024
• This records an increase from the previous number of 2,033.861 Barrel/Day th for Dec 2023
• Germany Oil Consumption data is updated yearly, averaging 0.000 Barrel/Day th from Dec 1965 to 2024, with 60 observations
• The data reached an all-time high of 0.522 Barrel/Day th in 1989 and a record low of 0.000 Barrel/Day th in 2004
• Germany 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

View yearly updates and historical trends for US Oil Consumption. from United States. Source: Energy Institute. Track economic data with YCharts analytics.

This dataset provides values for CRUDE OIL CONSUMPTION reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Key information about Russia Oil Consumption

• Russia Oil Consumption was reported at 3,846.333 Barrel/Day th in Dec 2024
• This records an increase from the previous number of 3,765.007 Barrel/Day th for Dec 2023
• Russia Oil Consumption data is updated yearly, averaging 2,620.660 Barrel/Day th from Dec 1985 to 2024, with 40 observations
• The data reached an all-time high of 5,111.449 Barrel/Day th in 1989 and a record low of 2,489.814 Barrel/Day th in 1998
• Russia 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

While major energy institutions IEA, OPEC, and EIA used to have little differences in their long-term growth projections for the oil market, their demand outlooks have become more divergent in recent years. In its 2024 outlook, OPEC expected global oil demand to increase to more than 113 million barrels per day by 2030. In comparison, the IEA's stated policies scenario (STEPS) from 2024 sees oil demand coming to merely 101.7 million barrels per day by 2030. A figure that was similar to the EIA's latest outlook.

Key information about France Oil Consumption

• France Oil Consumption was reported at 1,359.665 Barrel/Day th in Dec 2024
• This records a decrease from the previous number of 1,364.240 Barrel/Day th for Dec 2023
• France Oil Consumption data is updated yearly, averaging 1,873.680 Barrel/Day th from Dec 1965 to 2024, with 60 observations
• The data reached an all-time high of 2,499.079 Barrel/Day th in 1973 and a record low of 1,065.497 Barrel/Day th in 1965
• France 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

Key information about Mexico Oil Consumption

• Mexico Oil Consumption was reported at 1,853.303 Barrel/Day th in Dec 2024
• This records an increase from the previous number of 1,843.220 Barrel/Day th for Dec 2023
• Mexico Oil Consumption data is updated yearly, averaging 1,879.428 Barrel/Day th from Dec 1965 to 2024, with 60 observations
• The data reached an all-time high of 2,329.111 Barrel/Day th in 2008 and a record low of 315.871 Barrel/Day th in 1965
• Mexico 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

Fossil fuels have helped our civilization get to where it is today, we’ve used them to power our homes, factories, and vehicles. Fossil fuels are plant and animal matter that died millions of years ago and have then been subjected to heat and pressure over millions of years.

Fossil fuels come in three major groups: Coal – is mined and fuels 1/3 of the world’s power (the largest consumers are China, India, and the U.S.) Crude oil – pumped up through the earth and split through refining to produce different oils we use for fuel (like gasoline, diesel, kerosene, etc.) Natural gas – this is mainly methane found near oil deposits and caused the development of the controversial fracking process.

Graph and download economic data for Crude Petroleum Consumption, Runs to Stills for United States (M015AAUSM387NNBR) from Jan 1917 to Dec 1948 about petroleum, crude, consumption, and USA.

Asia Pacific is the greatest consumer of oil and oil products in the world. In 2024, the region accounted for around ** percent of total oil demand worldwide. This was up from **** percent in 2010 and largely buoyed by greater Chinese oil consumption. Oil consumption in North America, as well as in Europe, experienced a decline in the same time period.

The average for 2014 based on 192 countries was 485.24 thousand barrels per day. The highest value was in the USA: 19106 thousand barrels per day and the lowest value was in Kiribati: 0.4 thousand barrels per day. The indicator is available from 1980 to 2014. Below is a chart for all countries where data are available.

Key information about Italy Oil Consumption

• Italy Oil Consumption was reported at 1,262.476 Barrel/Day th in Dec 2024
• This records a decrease from the previous number of 1,267.399 Barrel/Day th for Dec 2023
• Italy Oil Consumption data is updated yearly, averaging 2,235.280 Barrel/Day th from Dec 1965 to 2024, with 60 observations
• The data reached an all-time high of 2,406.307 Barrel/Day th in 1990 and a record low of 978.986 Barrel/Day th in 1965
• Italy 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

Key information about Spain Oil Consumption

• Spain Oil Consumption was reported at 1,269.900 Barrel/Day th in Dec 2024
• This records an increase from the previous number of 1,198.843 Barrel/Day th for Dec 2023
• Spain Oil Consumption data is updated yearly, averaging 20.133 Barrel/Day th from Dec 1965 to 2024, with 60 observations
• The data reached an all-time high of 22.724 Barrel/Day th in 1965 and a record low of 12.812 Barrel/Day th in 1973
• Spain 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

World Largest Oil Reserves & Consumption Dataset

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Oil Reserves & Consumption (1995-2022)

This dataset provides comprehensive insights into global oil reserves and consumption trends spanning from 1995 to 2022. It includes data points for various countries or entities, detailing both the quantities of proven oil reserves and annual oil consumption measured in terawatt-hours (TWh) or equivalent units.

Key Features of the Dataset:

Entity: Names of countries or regions included in the dataset.

Year: Time period ranging from 1995 to 2022, capturing annual data points.

Oil Reserves: Quantities of proven oil reserves, typically measured in barrels or metric tons, reflecting the estimated amount of economically recoverable oil.

Oil Consumption (TWh): Annual oil consumption represented in terawatt-hours (TWh) or equivalent units, indicating the amount of oil utilized for various energy needs including transportation, industrial processes, and residential use.

Usage Insights:

Analysis of Trends: Explore the evolution of global oil reserves and consumption patterns over time, identifying shifts influenced by economic factors, technological advancements, and environmental policies.

Regional Comparisons: Compare oil reserve levels and consumption rates across different countries and regions to understand geographical variations and dependencies on fossil fuel resources.

Forecasting and Policy Development: Inform energy sector forecasts, policy-making processes, and strategic decisions related to energy security, sustainability goals, and international energy trade.

Data Sources and Reliability:

The dataset aggregates information from reliable sources such as national energy departments, international organizations, and industry reports. Data reliability is ensured through standardized methodologies and periodic updates reflecting the latest available statistics.

Potential Applications:

Academic research on energy economics and environmental studies. Industry analysis for energy companies, investors, and policy analysts. Governmental policy formulation in energy security and climate change mitigation strategies. Dataset Maintenance:

Regular updates and quality checks ensure the dataset remains current and reliable, accommodating new data releases and revisions in global energy statistics.

Forecast: Crude Oil Consumption of Fuel in China 2022 - 2026 Discover more data with ReportLinker!