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|
|Rest of the World||33,630||33,960||0.98%||34.1%|
Source: BP Statistical Review 2018