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.

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

The consumption of oil has steadily increased over the last three decades, totaling ************ metric tons in 2024, compared to ************ metric tons consumed the previous year. The only decline during this period was observed around the 2008-2009 financial crisis and around the 2020 coronavirus pandemic. Regional oil consumption The United States and China are the countries with the highest oil consumption. Overall, oil consumption worldwide reached a new high in 2023, when it exceeded *********** metric tons for the first time. However, this growth in consumption was the highest in Asia Pacific, where figures went up by some *** percent. In the United States, high consumption levels were held up by demand for petrochemicals as well as increased industrial production and demand for transportation by trucks. What is crude oil? Crude oil is a mixture of hydrocarbons from plant animal life that was formed under immense pressure. It generally exists in liquid form and can be found in underground pools or reservoirs, in small spaces within sedimentary rocks, and near the Earth’s surface as a tar (also known as oil sands). In turn, crude oil and other hydrocarbons in natural gases are refined to form petroleum products such as gasoline and jet fuel.

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.

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

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.

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

Key information about United Kingdom Oil Consumption

• United Kingdom Oil Consumption was reported at 1,325.100 Barrel/Day th in Dec 2024
• This records an increase from the previous number of 1,315.456 Barrel/Day th for Dec 2023
• UK Oil Consumption data is updated yearly, averaging 1,782.567 Barrel/Day th from Dec 1965 to 2024, with 60 observations
• The data reached an all-time high of 2,228.136 Barrel/Day th in 1973 and a record low of 1,199.980 Barrel/Day th in 2020
• UK 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

Worldwide consumption for liquid fuels reached 104.34 million barrels per day in July 2025. Figures are expected to increase over the course of the year. In 2025, global crude oil demand was forecast to average some 105.5 million barrels per day. Regional differences For the last few years, liquid fuel consumption has stayed relatively constant across regions. Despite seasonal and economic variances affecting demand patterns, fluctuations have been slight. In Europe, liquid fuel consumption tended to stay below 14 million barrels per day. U.S. still greatest petroleum consumer The United States remains the largest consumer of petroleum. The fossil fuel serves a great array of functions, from being a feedstock in the petrochemical industry to its use as a raw material for transportation fuels. Population numbers, economic size, industry presence, and wealth of its residents all contribute to a country’s need for this commodity. In the U.S., petroleum consumption amounts to around 800 million metric tons.

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

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.

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.

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 Indonesia Oil Consumption

• Indonesia Oil Consumption was reported at 1,603.769 Barrel/Day th in Dec 2023
• This records an increase from the previous number of 1,597.396 Barrel/Day th for Dec 2022
• Indonesia Oil Consumption data is updated yearly, averaging 773.837 Barrel/Day th from Dec 1965 to 2023, with 59 observations
• The data reached an all-time high of 1,618.194 Barrel/Day th in 2018 and a record low of 114.318 Barrel/Day th in 1967
• Indonesia 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.

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

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

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