Worldwide Oil Consumption

A weighted by oil consumption.

Worldwide oil consumption. Global petroleum and other liquids 2018 2019 2020 projected 2021 projected. There is an estimated 1 65 trillion barrels of proven oil reserves in the world as of 2016. The world consumes 35 442 913 090 barrels of oil as of the year 2016 equivalent to 97 103 871 barrels per day. 1 2 in 2020 total worldwide oil consumption is expected to drop by 9 3 year over year compared to 2019 due to the covid 19 pandemic according to the international energy agency iea.

Global oil consumption per capita is 5 barrels of oil 199 gallons per person yearly based on the 2016 world population of 7 464 022 049 people or 0 5 gallons per capita per day. This revised forecast is 140 000 barrels per day. The top three oil consumers the united states 20 china 13 and india 5 account for more than a third of the world s consumption. The iea said it now sees global oil demand for 2020 at 91 1 million barrels per day reflecting a fall of 8 1 million barrels per day year on year.

This is a list of countries by oil consumption. List of world countries by oil consumption in million cubic feet mmcf and per capita. Supply consumption million barrels per day non opec production. It is estimated that the world consumes over 97 million barrels of oil per day.

That seems to be the question bothering the world s big three oil forecasting agencies as they grapple to come to terms with the size of the slump in oil consumption triggered by the. Global oil demand is expected to decline in 2020 as the impact of the new coronavirus covid 19 spreads around the world constricting travel and broader economic activity according to the international energy agency s latest oil market forecast. The pandemic massively reduced the world s consumption of oil. Of those three only the united states is a major oil.

Daily oil consumption by region from 1980 to 2006. Now two influential reports suggest that this state of affairs will continue well into 2021 if not longer. Global oil demand is expected to continue to decline in 2020 as a result of the covid 19 pandemic constricting traveling and economic activity.