Global oil demand by region 2019-2020

Projected oil demand in Asia-Pacific is the highest in the world, at 36.7 million barrels daily in 2020, followed closely by the Americas. Overall global oil consumption is expected to increase in 2020 and has been rising steadily throughout the past two decades.

Countries with high consumption

The United States consumes the most petroleum of any country in the world, and is the driving factor behind the Americas ranking as the region with second-highest petroleum consumption. Brazil and Canada are also among the ten largest petroleum consumers, but on a much smaller scale than the United States. China is the second-largest consumer in the world, followed by India and Japan, making Asia-Pacific the highest consuming region overall.

Largest oil importers

Though Europe consumes about half as much oil as Asia-Pacific or the Americas, the region is the largest importer of oil worldwide. As resources in the North Sea have depleted, oil production in the European Union has declined significantly over the past two decades. Among E.U. countries, Germany has the highest oil consumption.

Global oil demand in 2019 and 2020, by region (in million barrels daily)*

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Source

Release date

September 2019

Region

Worldwide

Survey time period

as of September 2019

Supplementary notes

* All values are projections.

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