Countries with the highest oil consumption 2015-2018

The United States and China are two of the largest consumers of oil in the world, totaling 20.45 million barrels per day and 13.5 million barrels per day, respectively. In the last few decades, 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 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. In the United States, Texas is by far the largest producer of crude oil in the country, boosted by effective drilling technologies in the region’s reserves.