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Daily global crude oil demand 2006-2021

Global demand for crude oil (including biofuels) in 2019 amounted to 100.1 million barrels per day and is projected to decrease to 91.3 million barrels per day in 2020. This decrease is due to the economic and mobility impacts of Covid-19, including widespread shutdowns across the world. When compared to the daily oil demand of 86.4 million barrels in 2010, the increasing demand trajectory that occurred in the past decade is nevertheless still clear.

Who are the greatest consumers?

The outlook for long-term oil demand estimates that the total will amount to nearly 150 million barrels per day in the year 2040. Of that amount, developing countries are expected to account for a demand of over 72 million barrels per day, and OECD nations will account for a total of 38.3 million barrels daily. The OPEC (Organization of Petroleum Exporting Countries), which currently has 13 member countries, is projected to demand some 11.8 million barrels of oil per day in 2040.

Oil consumption by sector

Oil is an important and versatile substance, used in different ways and in different forms for many applications. The road sector accounts for nearly 50 percent of the global demand for oil, largely due to reliance on motor spirits made from petroleum. Petrochemicals are the second largest oil consuming sector worldwide, although this sector accounted for considerably less than the road sector, at 15 percent.

Daily demand for crude oil worldwide from 2006 to 2021 (in million barrels)*

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Source

Release date

November 2020

Region

Worldwide

Survey time period

as of November 2020

Supplementary notes

* This statistic was assembled from several editions of the report. All figures are annual averages and include biofuels.
** Projection.

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