The statistic shows the U.S. federal states with the highest petroleum energy consumption in 2015. New York consumed approximately 1.3 quadrillion British thermal units of energy derived from petroleum.

In 2024, the United States consumed nearly ** million barrels of oil daily. In comparison to the previous year, figures decreased by around *** percent. Within the period of consideration, the figure peaked at **** 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 **** million barrels per day, while figures in 2008 stood at *** million barrels per day. Texas is by far the leading crude oil producing state, with an annual production of *** billion barrels in 2024. New Mexico was the second largest producer, at a third of Texas’ production. American oil companies As of June 2025, 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 ****** and ******** 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 its headquarters further South to its Houston campus) and generated an operating revenue of *** 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.

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.

United States US: Fossil Fuel Energy Consumption: % of Total data was reported at 82.776 % in 2015. This records a decrease from the previous number of 82.935 % for 2014. United States US: Fossil Fuel Energy Consumption: % of Total data is updated yearly, averaging 87.236 % from Dec 1960 (Median) to 2015, with 56 observations. The data reached an all-time high of 95.982 % in 1967 and a record low of 82.776 % in 2015. United States US: Fossil Fuel Energy Consumption: % of Total data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.World Bank.WDI: Energy Production and Consumption. Fossil fuel comprises coal, oil, petroleum, and natural gas products.; ; IEA Statistics © OECD/IEA 2014 (http://www.iea.org/stats/index.asp), subject to https://www.iea.org/t&c/termsandconditions/; Weighted average; Restricted use: Please contact the International Energy Agency for third-party use of these data.

Crude Oil Production in the United States increased to 13580 BBL/D/1K in June from 13447 BBL/D/1K in May of 2025. This dataset provides the latest reported value for - United States Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

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.

Historical dataset showing North America fossil fuel consumption by year from 1960 to 2015.

United States US: Electricity Production From Oil Sources: % of Total data was reported at 0.904 % in 2015. This records a decrease from the previous number of 0.923 % for 2014. United States US: Electricity Production From Oil Sources: % of Total data is updated yearly, averaging 4.834 % from Dec 1960 (Median) to 2015, with 56 observations. The data reached an all-time high of 17.167 % in 1977 and a record low of 0.774 % in 2012. United States US: Electricity Production From Oil Sources: % of Total data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.World Bank.WDI: Energy Production and Consumption. Sources of electricity refer to the inputs used to generate electricity. Oil refers to crude oil and petroleum products.; ; IEA Statistics © OECD/IEA 2014 (http://www.iea.org/stats/index.asp), subject to https://www.iea.org/t&c/termsandconditions/; Weighted average; Electricity production shares may not sum to 100 percent because other sources of generated electricity (such as geothermal, solar, and wind) are not shown. Restricted use: Please contact the International Energy Agency for third-party use of these data.

United States US: Energy Use: Kg of Oil Equivalent per Capita data was reported at 6,797.621 kg in 2015. This records a decrease from the previous number of 6,955.524 kg for 2014. United States US: Energy Use: Kg of Oil Equivalent per Capita data is updated yearly, averaging 7,651.901 kg from Dec 1960 (Median) to 2015, with 56 observations. The data reached an all-time high of 8,438.403 kg in 1978 and a record low of 5,612.080 kg in 1961. United States US: Energy Use: Kg of Oil Equivalent per Capita data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s USA – Table US.World Bank: Energy Production and Consumption. Energy use refers to use of primary energy before transformation to other end-use fuels, which is equal to indigenous production plus imports and stock changes, minus exports and fuels supplied to ships and aircraft engaged in international transport.; ; IEA Statistics © OECD/IEA 2014 (http://www.iea.org/stats/index.asp), subject to https://www.iea.org/t&c/termsandconditions/; Weighted average; Restricted use: Please contact the International Energy Agency for third-party use of these data.

A defining trend in the US motor oil manufacturing industry over the past five years has been the steady expansion of domestic crude oil production, which has boosted input stability and reinforced competitive pricing. This reliable supply of raw materials supported manufacturers in recovering from initial pandemic shocks and capitalizing on export opportunities, even as the industry faced headwinds from the initial surge in electric vehicle adoption and shifts in workplace commuting patterns. Demand persisted due to an aging vehicle fleet and a rebound in vehicle miles traveled, both of which translated into robust lubricant sales. However, profit margin has remained volatile in the post-pandemic era. On balance, the industry achieved a moderate pace of growth, recording a CAGR of 2.1% over the past five years and reaching an estimated $18.9 billion in revenue in 2025. Over the past five years, operational dynamics have shifted. Automation and consolidation among industry leaders have led to reduced employment and enterprise numbers but helped drive new efficiencies. Market fragmentation persists, especially among small and mid-sized companies, while major firms have deployed advanced technologies to further optimize manufacturing and distribution. Innovation also played a crucial role, with growing consumer demand for synthetic and specialty lubricants, together with increased interest in eco-friendly and recycled products, forced manufacturers to diversify product offerings. Despite these strengths, profit margin has seen continued volatility, largely linked to uncertain raw material pricing and inflationary pressures, though a slow upward trend has emerged as efficiencies and supply chains have stabilized. Looking ahead, over the next five years, the industry will present a more subdued growth trajectory as the industry navigates both evolving opportunities and challenges. The adoption of electric vehicles is poised to gradually erode demand for conventional lubricants, shifting growth strategies toward alternative fluids, hybrid-compatible products, and further digital integration. Declining oil prices are expected to boost consumer activity and vehicle miles traveled, but also contribute to intensified price competition and limit upward revenue potential. Simultaneously, regulatory pressure will drive more rapid adoption of sustainable, biodegradable and recycled motor oil. As a result, the industry is forecast to experience a slower CAGR of 1.0% over the next five years, reaching $19.9 billion by the end of 2030.

United States US: Electricity Production From Oil: Gas And Coal Sources: % of Total data was reported at 67.238 % in 2015. This records a decrease from the previous number of 67.462 % for 2014. United States US: Electricity Production From Oil: Gas And Coal Sources: % of Total data is updated yearly, averaging 72.459 % from Dec 1960 (Median) to 2015, with 56 observations. The data reached an all-time high of 83.232 % in 1966 and a record low of 67.238 % in 2015. United States US: Electricity Production From Oil: Gas And Coal Sources: % of Total data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.World Bank.WDI: Energy Production and Consumption. Sources of electricity refer to the inputs used to generate electricity. Oil refers to crude oil and petroleum products. Gas refers to natural gas but excludes natural gas liquids. Coal refers to all coal and brown coal, both primary (including hard coal and lignite-brown coal) and derived fuels (including patent fuel, coke oven coke, gas coke, coke oven gas, and blast furnace gas). Peat is also included in this category.; ; IEA Statistics © OECD/IEA 2014 (http://www.iea.org/stats/index.asp), subject to https://www.iea.org/t&c/termsandconditions/; Weighted average; Restricted use: Please contact the International Energy Agency for third-party use of these data.

Prices on the USA oil products market have been falling in recent years, against tangible fluctuations in the price margin (the difference between the selling price of petroleum products and the crude oil price). The mid-2015 transient margin&,amp,#039,s increase did not result in the USA&,amp,#039,s marked output of petroleum products, which is already growing at a faster rate than domestic consumption. Export supply is insufficient to achieve a surplus output volume, which has generated a record increase in USA petroleum product reserves over the past eight years. As a result of the falling market prices, the value of shipments in the oil refining industry in 2015 experienced a siginificant tumble. As projected, this drop in prices will support the positive trend in terms of primary oil products&,amp,#039, consumption. It will take some time, however, to achieve a new market equilibrium between increased oil products output and domestic consumption. Those petroleum companies that can adapt to the price pressure, will continue to operate smoothly, due to the sustained demand for petroleum products.

Historical dataset showing Latin America & Caribbean fossil fuel consumption by year from 1971 to 2015.

The Gasoline and Petroleum Wholesaling industry has endured a slight revenue drop over the past five years. Profit has also taken a hit, mainly because of increasing purchase fees. Validating its central role in the national economy, the industry has remained a crucial intermediary between oil refiners and final consumers. Despite challenges, the sector is resilient and adaptable to shifting market conditions. The industry also remains vital for fueling transportation, heating and various industrial operations. Its performance is closely watched as an indicator of broader economic health. Industry revenue inched downwards at a CAGR of 0.8% over the past five years and is expected to total $644.4 billion in 2024, when revenue will jump by an estimated 1.5%. Rising costs and market volatility have driven the decline in profit. Companies have had to navigate a shifting landscape with fluctuating oil prices and expanding energy policies. Despite these hurdles, the industry has maintained a stable customer base owing to the essential nature of its products and services. Gasoline and petroleum remain indispensable goods for consumers and businesses alike. Still, external competition from alternative energy sources has also posed a challenge. The next five years present a more optimistic outlook for the industry. Companies will adapt to new technologies and more efficient delivery methods, which can help reduce costs. Regulatory changes may also benefit the industry by creating a more favorable business environment. Long-term investments in infrastructure and supply chain improvements will play a significant role in bolstering profitability. The continued development of the energy sector will also bring about new opportunities. Expansion into renewable energy offerings could help diversify revenue streams. Industry revenue is expected to crawl upward at a CAGR of 0.6% to $662.3 billion over the five years to 2029.

United States US: Energy Use: Kg of Oil Equivalent per 1000 PPP GDP: 2011 Price data was reported at 128.243 kg in 2015. This records a decrease from the previous number of 133.961 kg for 2014. United States US: Energy Use: Kg of Oil Equivalent per 1000 PPP GDP: 2011 Price data is updated yearly, averaging 167.041 kg from Dec 1990 (Median) to 2015, with 26 observations. The data reached an all-time high of 208.835 kg in 1991 and a record low of 128.243 kg in 2015. United States US: Energy Use: Kg of Oil Equivalent per 1000 PPP GDP: 2011 Price data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.World Bank.WDI: Energy Production and Consumption. Energy use per PPP GDP is the kilogram of oil equivalent of energy use per constant PPP GDP. Energy use refers to use of primary energy before transformation to other end-use fuels, which is equal to indigenous production plus imports and stock changes, minus exports and fuels supplied to ships and aircraft engaged in international transport. PPP GDP is gross domestic product converted to 2011 constant international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as a U.S. dollar has in the United States.; ; IEA Statistics © OECD/IEA 2014 (http://www.iea.org/stats/index.asp), subject to https://www.iea.org/t&c/termsandconditions/; Weighted average; Restricted use: Please contact the International Energy Agency for third-party use of these data.

Petroleum refiners have experienced volatile conditions in recent years since crude oil is the primary input cost for refiners in the United States. Crude oil is a highly volatile commodity as a result of its sensitivity to microeconomic and macroeconomic factors, including volatile production, demand and the health of global economies. As petroleum refiners pass these prices to customers, industry returns see similar volatility. With an uptick in crude oil prices through 2025, industry revenue has pushed up at a CAGR of 16.5% to an estimated $821.8 billion, including a 3.3% dip in 2025 alone. The period started slow, as the pandemic weakened global productivity, cutting down the need for petroleum-based products like fuel. As the economy recovered, so did prices, allowing refineries to exhibit double-digit growth in 2021 and 2022. As prices came down, revenue eventually fell slightly. Nonetheless, these volatile conditions caused some companies to exit the industry. High barriers also discouraged new entrants, so most of the period was marked by expanding existing facilities rather than building new ones. This results in a high concentration of refineries, predominantly located along the Gulf Coast in Texas, Louisiana and California. Unlike standalone refiners, large integrated companies manage crude oil reserves to mitigate price volatility, maintaining stable profitability despite oil price fluctuations. Petroleum refiners face long-term challenges from the transition to green energy, driven by more investment in renewables and electric vehicle infrastructure from the Inflation Reduction Act. As the need for motor gasoline falls with the rise of electric cars, refineries may shift towards carbon capture technologies and chemical production to remain viable. While many refineries have closed recently, some may convert to renewable fuel facilities, as seen in Marathon's partnership with Nestle. Despite these challenges, the US remains a global leader in oil production, so refineries will still exhibit slight growth moving forward. Overall, revenue is set to push up at a CAGR of 0.5% through 2030, reaching $844.0 billion in 2030.

Despite changes in driving patterns or economic fluctuations, demand for critical and non-discretionary auto maintenance tasks, including oil changes, remains consistent. For example, revenue jumped 2.3% in 2020 despite poor economic conditions and major lockdown restrictions leading to less driving activity. Conversely, pent-up demand for travel supported growth among oil change services, particularly as government restrictions lifted through 2021 and 2022. However, workforce shortages and increased competition from dealers, retailers with service capacity, and DIY consumers have threatened profit growth. Revenue has climbed at an expected CAGR of 6.6% to $12.6 billion through the current period, despite a 0.3% decline in 2024, where profit will reach 18.5%. Changes in crude oil prices also impacted oil change services. Higher oil prices contribute to purchasing costs, threatening profit. In particular, supply chain disruptions from the pandemic and the Russian invasion of Ukraine injected volatility into the industry. While service providers often pass these higher costs onto buyers, higher crude oil prices also contribute to higher gas prices, contributing to less driving activity. Similarly, the industry is highly competitive and saturated, preventing shops from increasing prices beyond competitors. Larger, vertically integrated companies and franchises, like Jiffy Lube, maintained strong competitive advantages, leveraging robust supply chains to manage costs. The rise of electric vehicles (EVs) poses a major threat to the oil change industry. Lower production costs, favorable government policy and accelerating climate change concerns will push more drivers to transition to EVs. EVs don't need oil, posing a major threat to the industry. Enhanced performance in newer car models that lengthen oil drain intervals will also impact demand. However, oil change services aren't predicted to endure the same level of disruption that threatens the broader auto sector; some companies may add additional services but the necessity of oil changes and the permeation of combustion engine vehicles will prevent major disruption in the short-term. With more people driving and increased vehicle miles, oil change service providers will capitalize on the rising demand. Overall, revenue will expand at an estimated CAGR of 1.3% to $13.4 billion through the outlook period, where profit will settle at 18.5%.

Lubricant oil manufacturers have faced significant volatility in recent years because of fluctuating crude oil prices and shifting economic conditions. During the pandemic, demand for lubricant oil plummeted as industrial activity and automobile usage dropped, causing revenue to plunge. As the economy reopened and oil prices surged, revenue rebounded sharply in 2021 and 2022. However, recessionary fears resulting from the Federal Reserve’s interest rate hikes, along with a drop in oil prices post-pandemic, pressured revenue again in 2023 and kept it flat in 2024. Tariffs and new economic uncertainties have reignited concerns about future demand, with forecasts indicating a potential revenue decline in 2025. The industry has also consolidated as larger companies with broader resources weathered volatility better than smaller firms. Specialization in niche and high-performance products, such as synthetic and recycled oils, has driven customer loyalty and helped sustain providers’ revenue and also boosted consolidation. The rise of electric vehicles (EVs) poses a long-term threat, though their impact is currently softened by the ongoing demand for traditional vehicles. Overall, revenue for lubricant oil manufacturers has expanded at a CAGR of 4.1% over the past five years, reaching $25.7 billion in 2025, including a 1.1% drop in revenue in that year. Lubricant oil manufacturers face several challenges and opportunities moving forward. Tariffs imposed by the Trump administration are expected to strengthen consumer prices and production costs, squeezing household spending and risking a mild economic downturn. Despite these headwinds, signs point toward recovery through higher productivity and increasing vehicle registrations, which will drive demand for lubricant oils. Regardless, falling oil prices may limit potential revenue gains. The growing emphasis on sustainability, with consumers favoring recycled and synthetic oils, offers new revenue streams. Larger companies may initially dominate this market due to economies of scale, although smaller firms could compete by investing in sustainable products. Increased automation and technological advancements are likely to cut costs and improve efficiency, slightly reducing wage expenses while supporting long-term profit growth. Overall, revenue for lubricant oil producers is forecast to creep upward at a CAGR of 1.4% over the next five years, reaching $27.5 billion in 2030.

Gasoline and petroleum bulk stations manage bulk storage tanks and terminals for crude oil and petroleum products, including gasoline, diesel fuel, fuel oil and liquid petroleum gases (LPGs). These bulk stations are often located near major refineries, ports and industrial centers to quickly and efficiently receive product and unload it to customers, playing an important role in the crude oil and petroleum products supply chain. Bulk stations can be as large as a multitank facility with the capacity to store millions of gallons of product or as small as a single-tank outpost that supplies gasoline to only a handful of retail gas stations. Performance is closely linked to the supply and demand for petroleum and petroleum products, as almost all revenue is tied up in purchasing these products from upstream refineries, while nearly the entirety of that revenue comes from selling them to downstream wholesalers and retailers. This has caused revenue to be volatile in recent years, as collapsing oil prices caused a sharp drop in the prices of crude oil amid the pandemic in 2020, followed by a steep jump in 2021 and 2022, followed by a normalization in the years since. However, year-to-year volatility is still intense, changing by more than 10.0% each year but one between 2015 and 2022. Revenue has increased at a CAGR of 14.2% to $1.1 trillion over the past five years, including a decline of 2.7% in 2025 alone as oil prices are on the downswing. It's important to note that this CAGR is artificially high, as revenue reached a 15-year low in 2020 amid the COVID-19 pandemic. The four-year and six-year CAGRs are below 5.0%. Moving forward, revenue is set to fall as oil prices continue to slide downward, though broader economic growth may temper this somewhat. The volume of oil and petroleum products supplied by downstream markets is forecast to expand, which will lead to significant investment in distribution infrastructure. This will expand the markets that bulk station operators can serve and stimulate downstream demand. However, \revenue is set to weaken at a CAGR of 0.4% to $1.1 trillion over the next five years.

In 2023/24, palm oil consumption amounted to around 75 million metric tons worldwide. That figure is projected to increase to approximately 78 million metric tons during 2024/25. Consumption of palm oil worldwide Palm oil is an edible vegetable oil commonly used for food products, detergents, and cosmetics. In the United States, palm oil consumption amounts to approximately 1.7 million metric tons annually. In comparison, palm oil consumption in the European Union is about three times as high. Nonetheless, palm oil consumption in the European Union has dropped significantly during the last two years. After constantly being close to 6.6 million metric tons between 2015 and 2020, consumption levels dropped to five million in 2021 and has not increased much since. Palm oil consumption in Indonesia is almost 20 million metric tons, which is significantly more than in any other country in the world. Indonesia’s palm oil consumption has nearly tripled during the last decade. Palm oil in China China's total imports of palm oil amount to approximately 7.2 million tons per year. More than half of those are imported from Indonesia, the leading palm oil producer worldwide. Furthermore, China's imports of palm oil from Malaysia amount to about 1.7 million metric tons, which is slightly less than a quarter of the total palm oil imports. In 2022, China’s total consumption of palm oil amounted to about 6.7 million metric tons. China’s palm oil consumption saw a noticeable increase in 2018. That year, consumption levels increased by almost two million metric tons, from 5.1 to seven million metric tons. Chinese palm oil consumption has remained at a similar level ever since, except during the pandemic year of 2021.