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.

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

The consumption of oil has steadily increased over the last three decades, totaling 4.53 billion metric tons in 2023, compared to 4.42 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.

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 16,576.537 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

Key information about Japan Oil Consumption

• Japan Oil Consumption was reported at 3,365.773 Barrel/Day th in Dec 2023
• This records a decrease from the previous number of 3,503.871 Barrel/Day th for Dec 2022
• Japan Oil Consumption data is updated yearly, averaging 4,933.384 Barrel/Day th from Dec 1965 to 2023, with 59 observations
• The data reached an all-time high of 5,805.695 Barrel/Day th in 1996 and a record low of 1,727.491 Barrel/Day th in 1965
• Japan 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 Iran Oil Consumption

• Iran Oil Consumption was reported at 1,816.840 Barrel/Day th in Dec 2023
• This records a decrease from the previous number of 1,853.006 Barrel/Day th for Dec 2022
• Iran Oil Consumption data is updated yearly, averaging 1,210.598 Barrel/Day th from Dec 1965 to 2023, with 59 observations
• The data reached an all-time high of 1,890.251 Barrel/Day th in 2013 and a record low of 139.289 Barrel/Day th in 1965
• Iran 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 1,954.716 Barrel/Day th in Dec 2023
• This records a decrease from the previous number of 2,072.366 Barrel/Day th for Dec 2022
• Germany Oil Consumption data is updated yearly, averaging 2,632.047 Barrel/Day th from Dec 1965 to 2023, with 59 observations
• The data reached an all-time high of 3,336.601 Barrel/Day th in 1979 and a record low of 1,708.632 Barrel/Day th in 1965
• 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

Key information about Norway Oil Consumption

• Norway Oil Consumption was reported at 213.354 Barrel/Day th in Dec 2023
• This records an increase from the previous number of 208.676 Barrel/Day th for Dec 2022
• Norway Oil Consumption data is updated yearly, averaging 200.473 Barrel/Day th from Dec 1965 to 2023, with 59 observations
• The data reached an all-time high of 230.271 Barrel/Day th in 2007 and a record low of 99.449 Barrel/Day th in 1965
• Norway 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

Oil consumption in China amounted to 16.6 million barrels per day in 2023, up from 15 million barrels daily in the prior year. Between 1990 and 2023, figures increased by more than 14 million barrels per day.

Key information about Saudi Arabia Oil Consumption

• Saudi Arabia Oil Consumption was reported at 4,051.907 Barrel/Day th in Dec 2023
• This records an increase from the previous number of 3,854.152 Barrel/Day th for Dec 2022
• Saudi Arabia Oil Consumption data is updated yearly, averaging 1,354.266 Barrel/Day th from Dec 1965 to 2023, with 59 observations
• The data reached an all-time high of 4,099.724 Barrel/Day th in 2016 and a record low of 389.574 Barrel/Day th in 1965
• Saudi Arabia 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

CN: Crude Oil Consumption: Industry: Mfg: Rubber and Plastic Products data was reported at 0.000 Ton mn in 2022. This records a decrease from the previous number of 0.001 Ton mn for 2021. CN: Crude Oil Consumption: Industry: Mfg: Rubber and Plastic Products data is updated yearly, averaging 0.003 Ton mn from Dec 1995 (Median) to 2022, with 22 observations. The data reached an all-time high of 0.012 Ton mn in 1995 and a record low of 0.000 Ton mn in 2022. CN: Crude Oil Consumption: Industry: Mfg: Rubber and Plastic Products 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: Cultural, Educational, Art and Craft, Sports and Entertainment Products data was reported at 0.000 Ton mn in 2016. This records an increase from the previous number of 0.000 Ton mn for 2014. CN: Crude Oil Consumption: Industry: Mfg: Cultural, Educational, Art and Craft, Sports and Entertainment Products data is updated yearly, averaging 0.000 Ton mn from Dec 2012 (Median) to 2016, with 4 observations. The data reached an all-time high of 0.000 Ton mn in 2013 and a record low of 0.000 Ton mn in 2014. CN: Crude Oil Consumption: Industry: Mfg: Cultural, Educational, Art and Craft, Sports and Entertainment Products 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.

Italy Olive Oil Demand rose 1.9% in 2019, compared to a year earlier. Need to compare country statistics and get a global overview? Find all data easily.

Key information about Brazil Oil Consumption

• Brazil Oil Consumption was reported at 2,566.948 Barrel/Day th in Dec 2023
• This records an increase from the previous number of 2,512.241 Barrel/Day th for Dec 2022
• Brazil Oil Consumption data is updated yearly, averaging 1,428.414 Barrel/Day th from Dec 1965 to 2023, with 59 observations
• The data reached an all-time high of 2,746.973 Barrel/Day th in 2014 and a record low of 305.674 Barrel/Day th in 1965
• Brazil 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 Denmark Oil Consumption

• Denmark Oil Consumption was reported at 152.952 Barrel/Day th in Dec 2023
• This records an increase from the previous number of 151.938 Barrel/Day th for Dec 2022
• Denmark Oil Consumption data is updated yearly, averaging 202.447 Barrel/Day th from Dec 1965 to 2023, with 59 observations
• The data reached an all-time high of 365.701 Barrel/Day th in 1972 and a record low of 130.186 Barrel/Day th in 2020
• Denmark 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 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.

Key information about Thailand Oil Consumption

• Thailand Oil Consumption was reported at 1,221.144 Barrel/Day th in Dec 2023
• This records an increase from the previous number of 1,220.860 Barrel/Day th for Dec 2022
• Thailand Oil Consumption data is updated yearly, averaging 618.495 Barrel/Day th from Dec 1965 to 2023, with 59 observations
• The data reached an all-time high of 1,284.707 Barrel/Day th in 2019 and a record low of 47.561 Barrel/Day th in 1965
• Thailand 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

Crude Oil Consumption: Fujian data was reported at 25.810 Ton mn in 2022. This records a decrease from the previous number of 28.397 Ton mn for 2021. Crude Oil Consumption: Fujian data is updated yearly, averaging 5.483 Ton mn from Dec 1995 (Median) to 2022, with 28 observations. The data reached an all-time high of 28.397 Ton mn in 2021 and a record low of 2.250 Ton mn in 1995. Crude Oil Consumption: Fujian 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.

Crude Oil Consumption: Beijing data was reported at 7.749 Ton mn in 2022. This records a decrease from the previous number of 7.764 Ton mn for 2021. Crude Oil Consumption: Beijing data is updated yearly, averaging 7.996 Ton mn from Dec 1990 (Median) to 2022, with 29 observations. The data reached an all-time high of 11.629 Ton mn in 2009 and a record low of 6.445 Ton mn in 1998. Crude Oil Consumption: Beijing 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.