Oil Consumption by Country 2022

Petrol is the primary motor vehicle fuel and heating oil source in several countries. Crude oil is a naturally occurring liquid substance. The color of crude oil varies from yellow to black, and its density and viscosity may also vary widely.

Products such as gasoline, diesel fuel, jet fuel, heating oils, and asphalt are made from crude oil once recovered from subsurface sources.

Approximately 88.7 million barrels of oil will be used by the globe each day in 2020. The COVID-19 epidemic is to blame for the drop in consumption this year has seen compared to prior years.

As of 2020, the United States produced around 11.5 million barrels per day of crude oil, making it the world’s top producer. Texas, New Mexico, and North Dakota are the top three oil-producing states in the US.

Oil reserves are deposits of oil that have not yet been extracted from the earth. Although Venezuela and Saudi Arabia hold the world’s most abundant oil reserves, almost half of the world’s countries are oil-producing ones.

In terms of oil consumption, these are the top 10 countries:

1. United States — 17,178,000
2. China — 14,225,000
3. India — 4,669,000
4. Saudi Arabia — 3,544,000
5. Japan — 3,268,000
6. Russia — 3,238,000
7. South Korea — 2,560,000
8. Brazil — 2,323,000
9. Canada — 2,282,000
10. Germany — 2,045,000

About 60% of the world’s total oil consumption is accounted for by the 10 largest oil users, with the remaining 40% coming from the rest of the world’s nations combined.

As the world’s top oil producer and consumer, the United States consumes almost as much oil as it produces, using over 17 million gallons daily, more than the EU (9.8 million).

This equates to between 15 and 20% of global oil usage. In second and third place, respectively, are China (14.2 million barrels per day) and India (4.7 million barrels per day).

Over a third of the world’s oil consumption is accounted for by just three countries: the United States, China, & India. The world’s three most populous nations are located in these three countries.

According to estimates for 2020, the world’s oil reserves are anticipated to be 1.73 trillion barrels confirmed oil reserves. More than 88 million barrels of oil are used by the globe every day.

Assuming current consumption levels, the world’s proven oil reserves are enough to last for another 53 years at the present rate.

Niue and Saint Helena, with daily consumption rates of 50 and 70 barrels, respectively, are among the world’s lowest users of crude oil. Because these countries have a smaller population and fewer automobiles and aircraft, they have less energy dependence on oil.

The following are the 10 countries and territories with the lowest daily oil consumption (in barrels):

1. Niue — 50
2. Saint Helena, Ascension, and Tristan da Cunha — 70
3. Falkland Islands — 290
4. Kiribati — 400
5. Montsterrat — 400
6. Nauru — 470
7. Cook Islands — 600
8. Saint Pierre and Miquelon — 660
9. Tonga — 900
10. Sao Tome and Principe — 1,000

Also See: Natural Gas Consumption by Country 2022

Here are the top 10 oil-consuming countries:

1. United States (19,690,000)
2. China (11,750,000)
3. India (4,489,000)
4. Japan (4,026,000)
5. Russia (3,594,000)
6. Saudi Arabia (3,237,000)
7. Brazil (3,018,000)
8. South Korea (2,630,000)
9. Germany (2,410,000)
10. Canada (2,379,000)