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 United States consumed 23.5 million barrels of petroleum and petroleum products per day in 2024. This figure represents an increase compared to the previous two years. Overall, petroleum use in the U.S. grew within the period of consideration.

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.

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.

Crude Oil Production in the United States increased to 13468 BBL/D/1K in April from 13450 BBL/D/1K in March 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 2023. This was an increase of around ***** 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 **** 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.

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.

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.

North America fossil fuel consumption for 2015 was 81.50%, a 0.48% decline from 2014.

<ul style='margin-top:20px;'>

<li>North America fossil fuel consumption for 2014 was <strong>81.98%</strong>, a <strong>0.12% increase</strong> from 2013.</li>
<li>North America fossil fuel consumption for 2013 was <strong>81.86%</strong>, a <strong>0.58% decline</strong> from 2012.</li>
<li>North America fossil fuel consumption for 2012 was <strong>82.44%</strong>, a <strong>0.28% decline</strong> from 2011.</li>
</ul>Fossil fuel comprises coal, oil, petroleum, and natural gas products.

Fuel dealers have exhibited revenue growth as sales have remained relatively stable and oil and natural gas prices have fluctuated favorably. The pandemic disrupted demand for fuel from commercial and industrial operations as they shuttered or operated at reduced capacity. Oil prices plummeted amid the suspension of most travel and revenue plunged in 2020. Oil consumption from consumers quarantined at home helped stave off more severe losses, but this boon was dampened as most states were getting warmer through the height of stay-at-home ordinances. The Russia-Ukraine war caused oil prices to surge since early in 2022, but revenue has begun to normalize as production catches up. Since 2023, crude oil prices have steadily dipped as supply and demand imbalances improve. Revenue for fuel dealers is expected to climb at a CAGR of 6.7% to $49.3 billion through the end of 2025, including growth of 0.9% in 2025 alone. The magnitude of this growth is amplified by the fact that revenue plummeted in 2020, causing revenue to begin the period below traditional levels. Rising fuel prices raise dealers' purchasing costs. The short-term inflexibility of demand for heating oil and propane allows dealers to pass most of these increases on to downstream customers through price hikes that also lift revenue. Dealers endure external competition from natural gas and electric heating companies, though, so prices are often under pressure to remain low enough to encourage oil-based heating. Fuel dealers can't pass on all their heightened costs and profit compresses when oil prices swell. Moving forward, volatility in oil prices will pressure fuel dealers. Sales of fuel will remain inflexible since all buildings fitted with propane and heating oil systems will continue to rely on dealers, but the industry is fighting to maintain its customer base as more and more buildings are refitted with natural gas heating units. Natural gas extraction has climbed, causing prices to drop after they exploded in 2022. Volatile crude prices will exacerbate this trend since consumers are incentivized to switch heating systems if input prices swell. Revenue is expected to slump at a CAGR of 0.1% to $49.0 billion through 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.

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.

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.

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.

United States US: Energy Imports: Net: % of Energy Use data was reported at 7.309 % in 2015. This records a decrease from the previous number of 9.214 % for 2014. United States US: Energy Imports: Net: % of Energy Use data is updated yearly, averaging 15.610 % from Dec 1960 (Median) to 2015, with 56 observations. The data reached an all-time high of 29.659 % in 2005 and a record low of 4.253 % in 1967. United States US: Energy Imports: Net: % of Energy Use 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. Net energy imports are estimated as energy use less production, both measured in oil equivalents. A negative value indicates that the country is a net exporter. 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.

Motor oil manufacturers have faced a rollercoaster of challenges and recoveries in recent years. COVID-19 dramatically curtailed car usage, as travel restrictions and work-from-home arrangements reduced the need for oil changes. Although manufacturers rebounded when the economy reopened in 2021, it hasn't entirely recovered from the pandemic's initial impact. Continued hybrid work schedules have notably hampered the return to pre-pandemic levels. Higher oil prices have discouraged driving, although some consumers avoided public transportation to curb virus exposure, slightly mitigating the downturn in car usage. Revenue has been decreasing at a CAGR of 0.6% over the past five years to total an estimated $21.6 billion in 2024, including an estimated increase of 1.7% in 2024. Economic conditions have pressured profit. Manufacturer's ability to pass on crude oil costs to downstream consumers has been constrained during economic slowdowns, particularly for standalone refiners. In contrast, larger integrated companies like Exxon Mobil and Shell have managed to maintain profitability by leveraging their control over crude oil reserves. The average age of the US automobile fleet has risen, providing a lifeline for motor oil manufacturers as older cars require more frequent oil changes. Semiconductor shortages and rising interest rates complicated the landscape, making new cars pricier and fewer on the roads, benefitting oil manufacturers by keeping older vehicles in use and aiding some recovery. Falling oil prices will improve consumer sentiment and increase vehicle usage, leading to higher demand for motor oil. Aging vehicles will continue to push demand for motor oil, further bolstered by manufacturers innovating advanced formulations to extend engine life. However, new car sales are set to climb because of easing supply chain issues and interest rate cuts, decreasing the need for motor oil. The growing adoption of electric vehicles (EVs), which don't need traditional oil changes, represents a long-term challenge. Manufacturers will increasingly focus on eco-friendly lubricants and enhancing sustainability through expanded recycling initiatives and high-efficiency recycled oils. Overall, revenue is forecast to increase at a CAGR of 1.0% over the next five years to total $22.7 billion through the end of 2029.

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.

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.

United States US:(GDP) Gross Domestic Productper Unit of Energy Use: 2011 Price: PPP per Kg of Oil Equivalent data was reported at 7.798 Intl $/kg in 2015. This records an increase from the previous number of 7.465 Intl $/kg for 2014. United States US:(GDP) Gross Domestic Productper Unit of Energy Use: 2011 Price: PPP per Kg of Oil Equivalent data is updated yearly, averaging 5.988 Intl $/kg from Dec 1990 (Median) to 2015, with 26 observations. The data reached an all-time high of 7.798 Intl $/kg in 2015 and a record low of 4.788 Intl $/kg in 1991. United States US:(GDP) Gross Domestic Productper Unit of Energy Use: 2011 Price: PPP per Kg of Oil Equivalent 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. GDP per unit of energy use is the PPP GDP per kilogram of oil equivalent of energy use. 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.