The outbreak of COVID-19 and its subsequent restrictions had a dramatic impact on the transportation sector, causing oil demand to plummet worldwide. This was especially prevalent in the second quarter of 2020, during peak lockdowns. During this quarter, oil demand in the United States declined by 4.4 million barrels a day below 2019 levels, while in the EU demand fell by 2.3 million barrels per day. In comparison, oil demand in China was above pre-pandemic levels. It is expected that the easing of restrictions around the world in 2021 will see demand rise again.
Change in oil demand worldwide from Q1 2020 to Q4 2021 relative to 2019 levels, by select country*
(in million barrels of oil per day)
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IEA. (October 26, 2022). Change in oil demand worldwide from Q1 2020 to Q4 2021 relative to 2019 levels, by select country* (in million barrels of oil per day) [Graph]. In Statista. Retrieved February 18, 2025, from https://www.statista.com/statistics/1242535/change-in-oil-demand-globally-by-country/?__sso_cookie_checker=failed
IEA. "Change in oil demand worldwide from Q1 2020 to Q4 2021 relative to 2019 levels, by select country* (in million barrels of oil per day)." Chart. October 26, 2022. Statista. Accessed February 18, 2025. https://www.statista.com/statistics/1242535/change-in-oil-demand-globally-by-country/?__sso_cookie_checker=failed
IEA. (2022). Change in oil demand worldwide from Q1 2020 to Q4 2021 relative to 2019 levels, by select country* (in million barrels of oil per day). Statista. Statista Inc.. Accessed: February 18, 2025. https://www.statista.com/statistics/1242535/change-in-oil-demand-globally-by-country/?__sso_cookie_checker=failed
IEA. "Change in Oil Demand Worldwide from Q1 2020 to Q4 2021 Relative to 2019 Levels, by Select Country* (in Million Barrels of Oil per Day)." Statista, Statista Inc., 26 Oct 2022, https://www.statista.com/statistics/1242535/change-in-oil-demand-globally-by-country/?__sso_cookie_checker=failed
IEA, Change in oil demand worldwide from Q1 2020 to Q4 2021 relative to 2019 levels, by select country* (in million barrels of oil per day) Statista, https://www.statista.com/statistics/1242535/change-in-oil-demand-globally-by-country/?__sso_cookie_checker=failed (last visited February 18, 2025)
Change in oil demand worldwide from Q1 2020 to Q4 2021 relative to 2019 levels, by select country* (in million barrels of oil per day) [Graph], IEA, October 26, 2022. [Online]. Available: https://www.statista.com/statistics/1242535/change-in-oil-demand-globally-by-country/?__sso_cookie_checker=failed
