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.

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.

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

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

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.

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 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 United Kingdom Oil Consumption

• United Kingdom Oil Consumption was reported at 1,324.763 Barrel/Day th in Dec 2023
• This records an increase from the previous number of 1,309.475 Barrel/Day th for Dec 2022
• UK Oil Consumption data is updated yearly, averaging 1,707.613 Barrel/Day th from Dec 1965 to 2023, with 59 observations
• The data reached an all-time high of 2,228.136 Barrel/Day th in 1973 and a record low of 1,183.309 Barrel/Day th in 2020
• UK 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 graph illustrates the global consumption of crude oil from 1990 to 2008. In 2007, the world consumed a total of approximately four billion metric tons of crude oil.

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

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 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

Worldwide consumption for liquid fuels reached 102.57 million barrels per day in April 2025. Figures are expected to increase over the summer months. In 2025, global crude oil demand was forecast to average some 105.5 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.

Key information about France Oil Consumption

• France Oil Consumption was reported at 1,347.801 Barrel/Day th in Dec 2023
• This records a decrease from the previous number of 1,360.348 Barrel/Day th for Dec 2022
• France Oil Consumption data is updated yearly, averaging 1,863.937 Barrel/Day th from Dec 1965 to 2023, with 59 observations
• The data reached an all-time high of 2,499.079 Barrel/Day th in 1973 and a record low of 1,065.497 Barrel/Day th in 1965
• France 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 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 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

Key information about Russia Oil Consumption

• Russia Oil Consumption was reported at 3,634.960 Barrel/Day th in Dec 2023
• This records an increase from the previous number of 3,614.618 Barrel/Day th for Dec 2022
• Russia Oil Consumption data is updated yearly, averaging 3,276.729 Barrel/Day th from Dec 1985 to 2023, with 39 observations
• The data reached an all-time high of 5,111.449 Barrel/Day th in 1989 and a record low of 2,489.814 Barrel/Day th in 1998
• Russia 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

Diesel and gasoil are the most in-demand oil products worldwide. In 2023, diesel and gasoil demand reached 29 million barrels per day. This was closely followed by gasoline.By 2040, gasoline demand is forecast to climb to nearly 30 million barrels per day compared with 32.2 millio barrels for diesel and gasoil. The use of petroleum products in daily life Crude oil serves as a feedstock for a great variety of industrial products. While transportation fuels such as gasoline and diesel are the most common examples used when referring to petroleum products, synthetic materials such as plastic packaging and many pharmaceutical drugs are also oil- and natural gas-based. In 2022, the global market value of petrochemicals stood at an estimated 584.5 billion U.S. dollars and was forecast to grow to over one trillion U.S. dollars by 2030. In a world where convenience often trumps the more environmentally friendly choice, petroleum products, particularly of the non-heavy variety, are expected to continue being in high demand. Oil demand shaped by economic activity As oil use is so widespread, changes in oil demand are usually an indication of developments in the wider economy, in particular changes to GDP growth as was the case in 2020. In the last two years, global liquid fuels consumption generally increased alongside economic activity and is expected to reach 104.7 million barrels per day by mid-2025.

The global oil supply chart offers insights into the production and consumption of oil worldwide. It showcases the balance between supply and demand, allows for regional and historical analysis, and aids in forecasting future trends. Experts and policymakers rely on this chart to evaluate the health of the oil market and make informed decisions.

Key information about Indonesia Oil Consumption

• Indonesia Oil Consumption was reported at 1,603.769 Barrel/Day th in Dec 2023
• This records an increase from the previous number of 1,597.396 Barrel/Day th for Dec 2022
• Indonesia Oil Consumption data is updated yearly, averaging 773.837 Barrel/Day th from Dec 1965 to 2023, with 59 observations
• The data reached an all-time high of 1,618.194 Barrel/Day th in 2018 and a record low of 114.318 Barrel/Day th in 1967
• Indonesia 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