- Oil Consumption refers to the total amount of petroleum products used within a country during a given year for energy and non-energy purposes.
South Korea Oil Consumption was 2,797 Thousand Barrels Daily in 2023, down 2.1% on 2022. The Oil Consumption dataset of South Korea from 2015 to 2023 provides a comprehensive overview of the country's oil consumption, highlighting demand trends, consumption levels, supply patterns, and overall industry performance throughout the review period.
South Korea Oil Consumption moved from 2,568 Thousand Barrels Daily in 2015 to 2,797 Thousand Barrels Daily in 2023 (+8.9%), an average of +1.1% a year. The series high was 2,856 Thousand Barrels Daily in 2022 and the low 2,568 Thousand Barrels Daily in 2015.
The gap between the series high (2022) and low (2015) is 288 Thousand Barrels Daily. The sharpest single-year move was +8.8% in 2016.
Among the 46 countries in this dataset, South Korea ranks 7 for 2023, behind U.S. (18,984 Thousand Barrels Daily) and China (16,577 Thousand Barrels Daily). It accounts for 2.8% of the global total in 2023.
Full series
Complete annual series with year-on-year change. Values are reported in Thousand Barrels Daily.
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| Year | Thousand Barrels Daily | Change vs prior year |
|---|---|---|
| 2023 | 2,797 | −2.1% |
| 2022Peak | 2,856 | +1.4% |
| 2021 | 2,816 | +7.1% |
| 2020 | 2,630 | −5% |
| 2019 | 2,768 | −0.5% |
| 2018 | 2,783 | −0.3% |
| 2017 | 2,791 | −0.1% |
| 2016 | 2,793 | +8.8% |
| 2015 Trough | 2,568 | — |
Regional context
Oil Consumption by country, 2023, Thousand Barrels Daily. South Korea is highlighted.
Data definition
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.
The data includes the domestic consumption of major petroleum products, including gasoline, diesel, jet fuel, kerosene, fuel oil, liquefied petroleum gas (LPG), and other refined oil products used across transportation, industrial, residential, commercial, agricultural, and power generation sectors. It covers both energy-related use and certain non-energy uses of petroleum products, such as feedstocks for petrochemical manufacturing where included in national energy balances. The indicator reflects total petroleum demand within a country regardless of whether the oil is produced domestically or imported. Data is compiled from national energy statistics, refinery reports, trade data, and standardized international energy databases, enabling consistent comparison of oil consumption trends across countries and over time.
The data excludes crude oil production, crude oil reserves, refinery throughput, and petroleum exports. It does not include consumption of natural gas, coal, nuclear energy, electricity, or renewable energy sources unless they are derived from petroleum products. The indicator excludes upstream oil extraction activities and does not directly measure fuel efficiency, carbon emissions, energy affordability, or the quality of energy services. Inventory changes, strategic petroleum reserves, and stock movements may be treated separately depending on the reporting methodology. Minor variations may occur due to differences in national accounting practices, product classifications, and estimation methods used across countries.
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 serves as an important indicator of energy demand, transportation fuel consumption, industrial activity, and the performance of South Korea's oil market. It enables assessment of long-term consumption patterns, market dynamics, and changes in petroleum demand across major consuming sectors, supporting analysis of the country's evolving energy landscape and industrial development.
South Korea's oil consumption increased from 2.57 million barrels daily in 2015 to 2.79 million in 2016, remaining at 2.79 million in 2017 before easing slightly to 2.78 million in 2018 and 2.77 million in 2019. Demand declined to 2.63 million barrels daily in 2020, reflecting reduced transportation activity and weaker industrial fuel consumption during the global economic slowdown. Consumption recovered to 2.82 million barrels daily in 2021, increased further to 2.86 million in 2022, and moderated slightly to 2.80 million barrels daily in 2023. Despite the marginal decline in the final year, consumption remained above most pre-pandemic levels, indicating resilient domestic petroleum demand.
Overall, the dataset indicates relatively stable oil consumption throughout the review period, with only a temporary decline during 2020 followed by a strong recovery. The sustained demand reflects South Korea's advanced industrial base, extensive manufacturing sector, and continued reliance on petroleum across transportation, petrochemicals, and other energy-intensive industries. The dataset serves as a valuable resource for monitoring oil consumption trends, evaluating energy demand, supporting market analysis, forecasting future petroleum consumption, and enabling policymakers, researchers, investors, and industry stakeholders to develop informed energy policies, infrastructure strategies, and long-term investment decisions.
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Definition- 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.
South Korea Oil Consumption was 2,797 Thousand Barrels Daily in 2023, down 2.1% on 2022.
South Korea Oil Consumption moved from 2,568 Thousand Barrels Daily in 2015 to 2,797 Thousand Barrels Daily in 2023 (+8.9%), an average of +1.1% a year. The series high was 2,856 Thousand Barrels Daily in 2022 and the low 2,568 Thousand Barrels Daily in 2015.
The highest value was 2,856 Thousand Barrels Daily in 2022 and the lowest was 2,568 Thousand Barrels Daily in 2015.
Included: The data includes the domestic consumption of major petroleum products, including gasoline, diesel, jet fuel, kerosene, fuel oil, liquefied petroleum gas (LPG), and other refined oil products used across transportation, industrial, residential, commercial, agricultural, and power generation sectors. It covers both energy-related use and certain non-energy uses of petroleum products, such as feedstocks for petrochemical manufacturing where included in national energy balances. The indicator reflects total petroleum demand within a country regardless of whether the oil is produced domestically or imported. Data is compiled from national energy statistics, refinery reports, trade data, and standardized international energy databases, enabling consistent comparison of oil consumption trends across countries and over time. Excluded: The data excludes crude oil production, crude oil reserves, refinery throughput, and petroleum exports. It does not include consumption of natural gas, coal, nuclear energy, electricity, or renewable energy sources unless they are derived from petroleum products. The indicator excludes upstream oil extraction activities and does not directly measure fuel efficiency, carbon emissions, energy affordability, or the quality of energy services. Inventory changes, strategic petroleum reserves, and stock movements may be treated separately depending on the reporting methodology. Minor variations may occur due to differences in national accounting practices, product classifications, and estimation methods used across countries.
The series is sourced from energyinst.org (https://www.energyinst.org/__data/assets/pdf_file/0006/1542714/684_EI_Stat_Review_V16_DIGITAL.pdf). It covers 2015–2023 and is reported in Thousand Barrels Daily.
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