Global oil consumption in barrels per day 1998-2019

Worldwide oil consumption reached approximately 98.27 million barrels per day in 2019. Up by 20 million barrels per day since 1998, global oil consumption has been steadily increasing over the past two decades, though experienced a decline during the 2008/2009 financial crisis.

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, consuming more petroleum than any other country.

Where is oil produced?

Though the United States has around four percent of proved oil reserves, it is currently the largest producer of crude oil worldwide, surpassing countries with far higher shares of oil reserves such as Saudi America. With the expansion of the shale oil industry through new methods of extraction like hydraulic fracturing developed since 2008, the United States has become less dependent on oil imports as domestic production has drastically increased.

Oil consumption worldwide from 1998 to 2019

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Source

Release date

June 2020

Region

Worldwide

Survey time period

1998 to 2019

Supplementary notes

According to the source, consumption includes inland demand plus international aviation, marine bunkers, refinery fuel and loss; consumption of fuel ethanol and biodiesel is also included.
Figures prior to 2006 were taken from previous editions of the report.

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