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 global demand for crude oil (including biofuels) in 2023 amounted to 102.21 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 104 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 110 million barrels per day by 2045, with transportation fuels such as gasoline and diesel expected to remain the most consumed products. Diesel and gasoil demand is forecast to amount to 30.1 million barrels per day in 2045, up from 27.6 million barrels in 2021. Gasoline demand is forecast at 27.6 million barrels by 2045.

Beyond oil - efforts made by an industry looking to cut carbon intensity

Despite oil producing bodies such as the OPEC seeing continued importance for crude oil in the future, efforts have been made within the energy industry in finding an alternative to the fossil fuel. One such alternative generating great enthusiasm is hydrogen. The most abundant chemical element in the universe has become of particular interest due to its potential as an energy carrier. Similar to oil, it may serve as a feedstock or main ingredient for transportation fuels, energy generation and storage, and also chemicals production. While today it is mainly won from natural gas conversion (so-called grey hydrogen), most investments are aimed at making hydrogen production through electrolysis using renewable electricity (green hydrogen) more cost efficient. Oil refineries and ammonia production facilities are main consumers of hydrogen, with the transportation sector accounting for a much lesser share.

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

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 85 million barrels a day. It is forecasted that the global consumption of oil will amount to some 105 million barrels per day in 2030.

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.

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.

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.

Global oil production amounted to 96.4 million barrels per day in 2023. The level of oil production reached an all-time high in 2023. However, the coronavirus pandemic and its impact on transportation fuel demand led to a notable decline in 2020. Rising production and consumption Apart from events surrounding global economic crisis as in the late 2000's and 2020, oil production consistently increased every year for the past two decades. Similarly, global oil consumption only decreased in 2008, 2009, and 2020, but has otherwise increased to a higher level year after year. Oil and oil products remain invaluable commodities as most transportation fuels are petroleum-based and oil is a major raw material for the chemicals industry. Production by region and country While total production is rising, regional distribution has shifted, with the share of production declining the most in Europe and the Commonwealth of Independent States (CIS) since 2008, and rising the most in North America. Even though as a region the Middle East still produces the largest share of oil worldwide, the United States is currently the worl'ds largest producer of oil, followed by Saudi Arabia and Russia.

Global oil production refers to the total amount of crude oil extracted and processed on a daily basis from oil fields around the world. It is a key indicator of the global energy supply and has significant implications for various aspects of the global economy, including prices, trade, and geopolitical relationships. Learn about the top oil-producing countries, global oil demand and supply, the impact of production levels on oil prices, and the future outlook for the industry.

Key information about Argentina Oil Consumption

• Argentina Oil Consumption was reported at 689.692 Barrel/Day th in Dec 2023
• This records a decrease from the previous number of 723.458 Barrel/Day th for Dec 2022
• Argentina Oil Consumption data is updated yearly, averaging 494.477 Barrel/Day th from Dec 1965 to 2023, with 59 observations
• The data reached an all-time high of 723.458 Barrel/Day th in 2022 and a record low of 406.877 Barrel/Day th in 1990
• Argentina 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

Learn about world crude oil production per day, including the top oil-producing countries like the United States, Saudi Arabia, Russia, Canada, China, and Iraq. Understand the factors that influence oil production and how it impacts global energy supply.

Global oil production is a crucial aspect of the world economy, with significant fluctuations influenced by geopolitical events, technological advancements, and environmental concerns. This article explores the trends, top oil-producing countries, and factors affecting global oil production, highlighting its importance and vulnerability in the global energy landscape.

Key information about Italy Oil Consumption

• Italy Oil Consumption was reported at 1,221.035 Barrel/Day th in Dec 2023
• This records a decrease from the previous number of 1,236.406 Barrel/Day th for Dec 2022
• Italy Oil Consumption data is updated yearly, averaging 1,814.703 Barrel/Day th from Dec 1965 to 2023, with 59 observations
• The data reached an all-time high of 2,035.513 Barrel/Day th in 1979 and a record low of 978.986 Barrel/Day th in 1965
• Italy 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

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.

Guinea-Bissau: Diesel and heating oil consumption, thousand barrels per day: The latest value from 2023 is 1.07 thousand barrels per day, an increase from 1.04 thousand barrels per day in 2022. In comparison, the world average is 145.86 thousand barrels per day, based on data from 190 countries. Historically, the average for Guinea-Bissau from 1980 to 2023 is 0.57 thousand barrels per day. The minimum value, 0 thousand barrels per day, was reached in 1980 while the maximum of 1.13 thousand barrels per day was recorded in 2019.

Sudan: Diesel and heating oil consumption, thousand barrels per day: The latest value from 2023 is 62.33 thousand barrels per day, an increase from 60.6 thousand barrels per day in 2022. In comparison, the world average is 145.86 thousand barrels per day, based on data from 190 countries. Historically, the average for Sudan from 1980 to 2023 is 31.7 thousand barrels per day. The minimum value, 7.3 thousand barrels per day, was reached in 1995 while the maximum of 66.33 thousand barrels per day was recorded in 2019.

The average for 2014 based on 21 countries was 422.29 thousand barrels per day. The highest value was in Brazil: 3144 thousand barrels per day and the lowest value was in Haiti: 18 thousand barrels per day. The indicator is available from 1980 to 2014. Below is a chart for all countries where data are available.

Fiji: Oil consumption, thousand barrels per day: The latest value from 2014 is 16 thousand barrels per day, unchanged from 16 thousand barrels per day in 2013. In comparison, the world average is 444.70 thousand barrels per day, based on data from 210 countries. Historically, the average for Fiji from 1980 to 2014 is 9.38 thousand barrels per day. The minimum value, 5.3 thousand barrels per day, was reached in 1987 while the maximum of 18 thousand barrels per day was recorded in 2006.

Key information about India Oil Consumption

• India Oil Consumption was reported at 5,446.103 Barrel/Day th in Dec 2023
• This records an increase from the previous number of 5,208.699 Barrel/Day th for Dec 2022
• India Oil Consumption data is updated yearly, averaging 1,416.726 Barrel/Day th from Dec 1965 to 2023, with 59 observations
• The data reached an all-time high of 5,446.103 Barrel/Day th in 2023 and a record low of 252.234 Barrel/Day th in 1965
• India 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