- Oil Consumption refers to the total amount of petroleum products used within a country during a given year for energy and non-energy purposes.
Venezuela Oil Consumption was 396 Thousand Barrels Daily in 2023, up 27.7% on 2022. The Oil Consumption dataset of Venezuela 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.
Venezuela Oil Consumption moved from 711 Thousand Barrels Daily in 2015 to 396 Thousand Barrels Daily in 2023 (−44.3%), an average of −7.1% a year. The series high was 711 Thousand Barrels Daily in 2015 and the low 230 Thousand Barrels Daily in 2020.
The gap between the series high (2015) and low (2020) is 481 Thousand Barrels Daily. The sharpest single-year move was −44% in 2020.
Among the 46 countries in this dataset, Venezuela ranks 38 for 2023, behind U.S. (18,984 Thousand Barrels Daily) and China (16,577 Thousand Barrels Daily). It accounts for 0.4% of the global total in 2023.
Full series
Complete annual series with year-on-year change. Values are reported in Thousand Barrels Daily.
Scroll the table sideways to see all columns.
| Year | Thousand Barrels Daily | Change vs prior year |
|---|---|---|
| 2023 | 396 | +27.7% |
| 2022 | 310 | +25.5% |
| 2021 | 247 | +7.4% |
| 2020 Trough | 230 | −44% |
| 2019 | 411 | −3.3% |
| 2018 | 425 | −22.4% |
| 2017 | 548 | −12.7% |
| 2016 | 628 | −11.7% |
| 2015Peak | 711 | — |
Regional context
Oil Consumption by country, 2023, Thousand Barrels Daily. Venezuela 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 thousand barrels daily, the dataset serves as an important indicator of energy demand, transportation fuel consumption, industrial activity, and the performance of Venezuela'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 domestic energy requirements.
Venezuela's oil consumption declined significantly throughout much of the review period, falling from 711 thousand barrels daily in 2015 to 628 thousand in 2016, 548 thousand in 2017, 425 thousand in 2018, and 411 thousand barrels daily in 2019. Demand decreased further to 230 thousand barrels daily in 2020, the lowest level recorded during the review period, reflecting severe economic challenges and reduced domestic fuel consumption. Consumption recovered gradually to 247 thousand barrels daily in 2021, increased to 310 thousand in 2022, and reached 396 thousand barrels daily in 2023. Despite the recovery, consumption remained well below the levels recorded during the early years of the review period.
Overall, the dataset indicates a substantial long-term decline in Venezuela's oil consumption, followed by a gradual recovery after 2020. The improvement recorded between 2021 and 2023 reflects strengthening domestic economic activity and increasing transportation fuel demand, although petroleum consumption has yet to return to historical levels. 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.
Venezuela Oil Consumption was 396 Thousand Barrels Daily in 2023, up 27.7% on 2022.
Venezuela Oil Consumption moved from 711 Thousand Barrels Daily in 2015 to 396 Thousand Barrels Daily in 2023 (−44.3%), an average of −7.1% a year. The series high was 711 Thousand Barrels Daily in 2015 and the low 230 Thousand Barrels Daily in 2020.
The highest value was 711 Thousand Barrels Daily in 2015 and the lowest was 230 Thousand Barrels Daily in 2020.
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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