Feature Report: Oil Producers and Consumers

3 items of content in this feature report

Featured Figures

Global Oil Consumption

Global oil consumption rose by 1.5% between 2017 and 2018, maintaining the steady upward trend of the last ten years (average growth: 1.2%). At this rate, consumption is set to exceed the symbolic threshold of 100 million barrels a day in 2019. The United States, China and India were the main engines behind the expansion. In the United States, demand was underpinned by continued strength in the economy. Germany, and to a lesser extent France, experienced declines, after posting growth a year earlier.

Global Oil Consumption (in thousands of barrels/day)

 
Country 2017 2018 Change 2018 over 2017 Share of Global Consumption
United States 19,958 20,456 2.50% 20.49%
China 12,840 13,525 5.33% 13.55%
India 4,870 5,156 5.87% 5.16%
Japan 3,975 3,854 -3.04% 3.86%
Saudi Arabia 3,838 3,918 -2.97% 3.73%
Russia 3,207 3,228 0.65% 3.23%
Brazil 3,052 3,081 0.95% 3.09%
South Korea 2,811 2,793 -0.64% 2.80%
Germany 2,443 2,321 -4.99% 2.32%
Canada 2,448 2,447 -0.04% 2.45%
Mexico 1,883 1,812 -3.77% 1.81%
Iran 1,843 1,879 1.95% 1.88%
France 1,608 1,607 -0.06% 1.61%
Rest of the World 33,630 33,960 0.98% 34.1%
Total 98,406 99,843 1.46% 100.0%

 

Source: BP Statistical Review 2018