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.

Oil consumption worldwide reached approximately ************* barrels per day in 2024. This was an increase of around ****percent in comparison to the previous year. Apart from the years of the financial crisis and the 2020 coronavirus pandemic, oil consumption consecutively increased in every year since 1998. Oil demand by region As a region, Asia-Pacific has the highest demand for oil in the world, followed closely by the Americas. The United States alone contributes strongly to this high regional demand in the Americas, as it is the country with the largest petroleum consumption in the world. Oil is mainly used as a raw material for motor fuels or as a feedstock in the chemicals industry for products ranging from adhesives to plastics. It has historically also been used as a source for electricity and heat generation, although to a lesser extent than other fossil fuels such as coal and natural gas. Where is oil produced? Though the U.S. holds only around **** percent of proved oil reserves, it currently accounts for the greatest share of global crude oil production, surpassing countries with far larger oil reserves such as Saudi Arabia. With the expansion of the shale oil industry through new methods of extraction like hydraulic fracturing and horizontal drilling, the United States has become less dependent on oil imports as domestic production has drastically increased.

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

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

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 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 16,576.537 Barrel/Day th in Dec 2023
• This records an increase from the previous number of 14,969.983 Barrel/Day th for Dec 2022
• China Oil Consumption data is updated yearly, averaging 2,965.072 Barrel/Day th from Dec 1965 to 2023, with 59 observations
• The data reached an all-time high of 16,576.537 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

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.

In 2024, global oil consumption hit a historic high of 101.8 million barrels per day, as reported by the Statistical Review of World Energy 2025. The U.S. remains the largest consumer, while India's demand surges. Production aligns closely with consumption, highlighting market equilibrium and strategic challenges.

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

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.

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.

CN: Crude Oil Consumption: Industry: Mfg: Waste of Resources & Waste Material Recycling data was reported at 0.000 Ton mn in 2010. CN: Crude Oil Consumption: Industry: Mfg: Waste of Resources & Waste Material Recycling data is updated yearly, averaging 0.000 Ton mn from Dec 2010 (Median) to 2010, with 1 observations. The data reached an all-time high of 0.000 Ton mn in 2010 and a record low of 0.000 Ton mn in 2010. CN: Crude Oil Consumption: Industry: Mfg: Waste of Resources & Waste Material Recycling data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Energy Sector – Table CN.RBB: Crude Oil Consumption.

CN: Crude Oil Consumption: Industry: Mfg: Fabricated Metal Product data was reported at 0.000 Ton mn in 2018. This records a decrease from the previous number of 0.000 Ton mn for 2017. CN: Crude Oil Consumption: Industry: Mfg: Fabricated Metal Product data is updated yearly, averaging 0.000 Ton mn from Dec 1994 (Median) to 2018, with 25 observations. The data reached an all-time high of 0.006 Ton mn in 1994 and a record low of 0.000 Ton mn in 2003. CN: Crude Oil Consumption: Industry: Mfg: Fabricated Metal Product data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under Global Database’s China – Table CN.RBB: Crude Oil Consumption.

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.

Learn about the major sectors that contribute to global oil consumption and their levels of consumption and dependency on oil. Discover how the transportation, industrial, residential and commercial, and electricity generation sectors drive global oil use and how factors such as economic growth and environmental regulations influence oil demand. Understand the potential impact of shifts towards cleaner energy sources on future oil consumption trends.

This dataset contains information about the consumption of oil and gas products for public and industrial segments in Saudi Arabia for 1969-2021. Data from Saudi Central Bank (SAMA). Follow datasource.kapsarc.org and it’s APIs to stay in sync and advance energy economics research.Note:- Blank Fields: Not Available - Natural gas data were separated starting from 2021- Public includes consumption of all sectors except the oil industry.

The consumption of oil has steadily increased over the last three decades, totaling 4.59 billion metric tons in 2024, compared to 4.55 billion 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 4.5 billion metric tons for the first time. However, this growth in consumption was the highest in Asia Pacific, where figures went up by some 5.3 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.

Top Countries' Share of Global Oil Consumption, 2016 Discover more data with ReportLinker!

In 2024, Russia consumed over *** million metric tons of oil, marking an increase compared to the previous year. That was the highest figure over the period under consideration. In 2020, oil consumption declined following the coronavirus (COVID-19) pandemic and a subsequent drop in car sales across the country. Oil use in the transport sector Russia is the world’s fifth-largest oil consumer. The largest share of petroleum in the country is used by its transport sector, with motor gasoline occupying the largest portion of final oil consumption. Given relatively low gasoline prices compared to the world and no advanced compressed natural gas (CNG) or electric vehicle markets, the road transportation sector in Russia strongly relies on oil. Energy transition: prospects for Russia? A decline in the global oil demand is expected to have a negative effect on Russia’s energy exports. Furthermore, domestic oil consumption volume is forecast to noticeably decrease under both rapid transition and business-as-usual scenarios. From *** exajoules of oil consumed in 2019, oil consumption in Russia is expected to decline to *** exajoules under the 2050 New Momentum scenario and to *** exajoules under the 2050 Net Zero scenario.