Regional liquid fuels consumption outlook 2023

The United States consumes more than three times as many liquid fuels as India. The United States is forecast to have a daily consumption of 20.2 million barrels per day by December 2023, up from 19.33 million barrels in December 2022. Global liquid fuel consumption is projected to reach 103 million barrels per day in December 2023.

Monthly petroleum and other liquids consumption worldwide from January 2020 to October 2023, with a forecast until December 2024, by select region and country (in million barrels per day)

Characteristic	United States	Europe	China	India
Dec '24	20.31	14.06	16.97	5.78
Nov '24	20.36	14.15	16.53	5.71
Oct '24	20.5	14.6	15.59	5.48
Sep '24	20.32	14.72	16.53	5.34
Aug '24	20.83	14.33	15.72	5.25
Jul '24	20.43	14.46	16.2	5.37
Jun '24	20.58	14.36	16.27	5.66
May '24	20.29	13.81	16.45	5.75
Apr '24	20.27	14.12	16.69	5.67
Mar '24	20.2	14.04	16.37	5.75
Feb '24	20.11	14.33	16.47	5.76
Jan '24	20	13.41	16.01	5.37
Dec '23	20.2	14.3	16.57	5.55
Nov '23*	20.46	14.39	16.14	5.49
Oct '23	20.21	14.83	15.23	5.27
Sep '23	19.71	14.96	16.14	5.14
Aug '23	20.88	14.57	15.35	5.05
Jul '23	20.12	14.7	15.82	5.16
Jun '23	20.72	14.59	15.89	5.44
May '23	20.4	13.9	16.07	5.53
Apr '23	20.04	13.75	16.3	5.45
Mar '23	20.08	14.08	15.98	5.53
Feb '23	19.76	14.32	16.08	5.53
Jan '23	19.15	13.07	15.63	4.86
Dec '22	19.33	14.11	15.87	5.3
Nov '22	20.21	14.19	15.38	5.25
Oct '22	20.01	14.05	14.6	4.97
Sep '22	20.13	15.02	15.54	4.85
Aug '22	20.27	14.84	14.68	4.85
Jul '22	19.93	14.56	15.07	4.81
Jun '22	20.43	14.46	15.08	5.21
May '22	19.84	14.16	15.18	4.94
Apr '22	19.73	13.96	15.04	5.07
Mar '22	20.48	14.23	14.75	5.21
Feb '22	20.19	14.47	15.41	5.25
Jan '22	19.61	13.14	15.22	4.79
Dec '21	20.66	14.53	15.94	4.85
Nov '21	20.57	14.64	15.5	4.79
Oct '21	20.38	14.94	14.59	4.6
Sep '21	20.14	14.99	15.49	4.48
Aug '21	20.57	14.42	14.7	4.41
Jul '21	20.17	14.52	15.16	4.51
Jun '21	20.59	14.2	15.22	4.75
May '21	20.05	12.95	15.39	4.83
Apr '21	19.74	13.09	15.62	4.76
Mar '21	19.13	13.28	15.3	4.83
Feb '21	17.7	12.76	15.39	4.85
Jan '21	18.81	11.96	14.94	4.5
Dec '20	18.8	12.92	15.71	4.62
Nov '20	18.74	13.04	15.28	4.57
Oct '20	18.61	13.67	14.34	4.38
Sep '20	18.41	13.89	15.14	4.27
Aug '20	18.56	13.15	14.33	4.2
Jul '20	18.38	13.69	14.49	4.29
Jun '20	17.58	12.69	13.95	4.53
May '20	16.08	11.39	14.13	4.6
Apr '20	14.55	11.02	14.16	4.54
Mar '20	18.46	13.39	13.56	4.6
Feb '20	20.13	14.57	13.74	4.62
Jan '20	19.93	14.03	14.36	4.29

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Release date

November 2023

More information

Region

Worldwide

Survey time period

January 2020 to October 2023

Supplementary notes

Forecast from November 2023 onwards.

For OECD countries, consumption is synonymous with petroleum product supply.

Figures were restated based on the latest report.

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