Oil Consumption — - Oil Consumption refers to the total amount of petroleum products used within a country during a given year for energy and non-energy purposes. It is typically measured in thousand barrels per day (kb/d) and represents the demand for oil-based fuels and products across the economy. The indicator includes the use of refined petroleum products such as gasoline, diesel, jet fuel, kerosene, fuel oil, and other oil-derived products consumed by transportation, industry, power generation, residential, commercial, and other sectors. Oil Consumption is a key measure of a country’s energy demand, economic activity, transportation intensity, and dependence on petroleum resources.
Measured in million barrels daily, the dataset reflects total global petroleum consumption and serves as an important indicator of economic activity, transportation demand, industrial production, and overall energy market performance. Incorporating consumption data from major oil-consuming economies worldwide, the dataset enables analysis of global demand patterns, market dynamics, and long-term developments across the international oil sector.
Global oil consumption increased from 92.77 million barrels daily in 2015 to 94.68 million in 2016, 96.72 million in 2017, 97.96 million in 2018, and 98.22 million in 2019. Global demand declined sharply to 89.45 million barrels daily in 2020 before recovering to 94.73 million in 2021, 97.68 million in 2022, and reaching a record 100.22 million barrels daily in 2023. The United States remained the world's largest oil consumer, with demand increasing from 18.50 million barrels daily in 2015 to 18.98 million in 2023. China recorded the strongest growth among major economies, rising from 11.89 million to 16.58 million barrels daily, while India also expanded steadily from 4.18 million to 5.45 million barrels daily, reflecting rising industrial activity and transportation demand.
Overall, the dataset demonstrates resilient long-term growth in global oil consumption despite the temporary contraction experienced in 2020. Strong demand recovery across major economies, particularly China and India, supported global consumption in surpassing pre-pandemic levels and reaching a new record in 2023. The dataset serves as a valuable resource for monitoring global oil consumption trends, evaluating energy demand, supporting market analysis, forecasting future petroleum consumption, and enabling policymakers, researchers, investors, and industry stakeholders to develop effective energy strategies and long-term investment decisions.