Largest oil consumption worldwide by country 2019
The United States and China are two of the largest consumers of oil in the world, totaling 19.4 million barrels per day and 14 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. Texas is by far the largest producer of crude oil in the U.S., boosted by effective drilling technologies in the region’s reserves.
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. Texas is by far the largest producer of crude oil in the U.S., boosted by effective drilling technologies in the region’s reserves.
