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 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 transportation sector is the greatest consumer of petroleum in the United States. In 2023, it was responsible for the consumption of roughly 13.7 million barrels of petroleum per day. The industrial sector followed, using an average of 5.3 million barrels per day.

The United States consumed 20.2 million barrels of petroleum and petroleum products per day in 2023. 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 United States consumed 815.6 million metric tons of oil in 2023. 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 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.

Oil consumption worldwide reached approximately 100.2 million barrels per day in 2023. This was an increase of around three percent in comparison to the previous year, when global oil consumption experienced a drop as a result of the pandemic-enforced mobility restrictions which, in turn, led to a decline in transportation fuel demand. 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 four 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.

The US Oil Chart provides valuable insights into the historical production and consumption of oil in the United States. It visualizes the balance between oil production and consumption, identifies long-term trends, and analyzes the impact of external events on the oil industry. Investors and traders also rely on it to make informed decisions in the commodities market.

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.

Graph and download economic data for Personal consumption expenditures: Nondurable goods: Fuel oil and other fuels (DFULRC1A027NBEA) from 1929 to 2024 about fuels, nondurable goods, oil, PCE, consumption expenditures, consumption, personal, goods, GDP, and USA.

The United States and China are the top largest consumers of oil in the world, totaling 19 million and 16.6 million 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.

United States - Real national defense consumption expenditures: Gross output of general government: Intermediate goods and services purchased: Nondurable goods: Petroleum products was 7.41800 Bil. of Chn. 2009 $ in October of 2024, according to the United States Federal Reserve. Historically, United States - Real national defense consumption expenditures: Gross output of general government: Intermediate goods and services purchased: Nondurable goods: Petroleum products reached a record high of 22.77500 in April of 2003 and a record low of 6.39800 in April of 2023. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Real national defense consumption expenditures: Gross output of general government: Intermediate goods and services purchased: Nondurable goods: Petroleum products - last updated from the United States Federal Reserve on April of 2025.

Graph and download economic data for Corporate capital consumption allowances: Mining: Oil and gas extraction (N7726C0A144NBEA) from 1998 to 2021 about capital consumption allowances, extraction, oil, mining, gas, capital, corporate, GDP, and USA.

Vereinigte Staaten Von Amerikas Ölverbrauch belief sich im 2023 auf 18,983.557 Barrel/Day th. Dies stellt einen Anstieg im Vergleich zu den vorherigen Zahlen von 18,862.210 Barrel/Day th für 2022 dar. Vereinigte Staaten Von Amerikas Ölverbrauch werden jährlich aktualisiert, mit einem Durchschnitt von 17,634.400 Barrel/Day th von 1965 bis 2023, mit 59 Beobachtungen. Die Daten erreichten ein Allzeithoch in Höhe von 20,531.482 Barrel/Day th im 2005 und ein Rekordtief in Höhe von 11,512.436 Barrel/Day th im 1965. Vereinigte Staaten Von Amerikas Ölverbrauch Daten behalten den Aktiv-Status in CEIC und werden von BP PLC gemeldet. Die Daten werden unter World Trend Pluss Association: Energy Sector – Table RB.BP.OIL: Oil: Consumption kategorisiert.

Worldwide consumption for liquid fuels reached 102.77 million barrels per day in January 2025. Figures are expected to increase further throughout winter 2025. In 2024, global crude oil demand was forecast to average some 104.46 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 nearly one billion metric tons, more than the combined consumption of both China and India.

Soybean oil had the highest level of consumption of any edible oil in the United States in 2024. In 2024, Americans consumed about 12.51 million metric tons of soybean oil, compared to about 1.8 million metric tons of palm oil. Soybean cultivation The United States, Brazil, and Argentina are the top three producers of soybeans in the world as of the 2021/2022 crop year. Soybean production in the United States amounted to around 4.2 billion bushels in 2023, up from approximately 3.5 billion bushes in 2019. Most of the U.S. states with the highest volume of soybean production are located in the Midwest, with Illinois, Iowa, and Minnesota topping the list for soybean production within the United States. Edible oil exports Although soybean oil is the most consumed type of edible oil in the United States, the export volume of palm oil is the highest of any type of vegetable oil. Palm oil is commonly used in beauty products, processed snack foods, among other everyday items. Indonesia and Malaysia are the top two exporters of palm oil as of 2022/2023.

Road transportation is the greatest oil demanding sector in OECD (Organisation for Economic Co-operation and Development) member states. In 2023, 49.02 percent of all oil consumed in the OECD was related to motor vehicle usage. By comparison, the petrochemical sector which manufactures plastics, resins, and other petroleum-based products, only made up about an eighth of total demand. U.S. and China by far largest consumers The United States and China are the greatest oil consumers worldwide by a wide margin. In 2023, daily oil consumption in these countries amounted to 19 million barrels and 16.6 million barrels, respectively. Daily global crude oil demand, including biofuels, reached 102.21 million barrels in 2023, up from 99.57 million barrels in 2022. The future road sector Oil is used in numerous manufacturing processes and still accounts for a large chunk of primary energy supply worldwide. It is largely used to produce transportation fuels such as gasoline, diesel, and kerosene. As such, demand is also shaped by a growth or decline in internal-combustion engine vehicle usage and overall economic performance. During the 2020 pandemic, oil demand within the road sector decreased as lockdowns were enforced across the world. With many countries pushing for a wider adoption of electric vehicles, oil demand in the road sector is likely to be further affected going forward.

Statistics illustrates consumption, production, prices, and trade of Groundnut Oil in the United States from 2007 to 2024.

According to the report, U.S. domestic canola oil consumption amounted to approximately 2.9 million metric tons in 2022. In 2022, domestic canola oil consumption in the U.S. is more than three times as much as it was two decades ago.

Gasoline consumption in the United States transportation sector amounts to around 8.5 million barrels per day. In 2024, gasoline and distillate fuel oil (diesel) consumption decreased. Gasoline consumption is close to three times higher than diesel consumption, the latter amounting to less than three million barrels per day. Energy demand in the transportation sector The transportation sector, which includes public and personal transportation by road vehicles, airplanes, trains and ships, is the second-largest energy-consuming sector in the United States. The majority of energy consumed in this sector is derived from petroleum or crude oil. However, thanks to government incentives, annual biofuel consumption in the U.S. has also increased to over 1.9 billion gallons. Consumption of motor fuels remains steady amid lower car sales Distillate fuel can be used as either fuel oil or diesel fuel. The figures indicate that gasoline is still the most popular transportation fuel in the U.S. Gasoline and diesel consumption has stayed relatively constant over the last two decades, whereas U.S. car sales have notably decreased since 2014.