Daily oil consumption in the United Kingdom (UK) 2004-2018
Consumption of oil in the United Kingdom has seen an overall decline during this period, falling to 1.62 billion barrels per day by 2018. Most oil consumption in the UK is used for transport, especially road transport. However, demand is expected to decline in the following decades. In comparison, the consumption by the aviation sector is set to increase.
Imports higher than production
Since 2010, the UK’s crude oil production has mostly been in decline, despite recording increases in 2015 and 2016. Production fell in 2017 to 43 million metric tons. This was the equivalent of one million barrels per day. In comparison, imports have remained higher than production, only dropping lower in 2016. Projections for production show a gradual decrease to an estimated 25 million Mtoe by 2035. Demand is set to remain steady at approximately 73 million Mtoe.
Oil reserves in decline
Along with Norway, the UK sectors of the North Sea hold most of the large oil reserves. However, these have been in decline for decades. Between the end of 1995 and the end of 2018, proved reserves fell from 4.5 billion barrels to 2.5 billion barrels.
Imports higher than production
Since 2010, the UK’s crude oil production has mostly been in decline, despite recording increases in 2015 and 2016. Production fell in 2017 to 43 million metric tons. This was the equivalent of one million barrels per day. In comparison, imports have remained higher than production, only dropping lower in 2016. Projections for production show a gradual decrease to an estimated 25 million Mtoe by 2035. Demand is set to remain steady at approximately 73 million Mtoe.
Oil reserves in decline
Along with Norway, the UK sectors of the North Sea hold most of the large oil reserves. However, these have been in decline for decades. Between the end of 1995 and the end of 2018, proved reserves fell from 4.5 billion barrels to 2.5 billion barrels.
