Question: What Is The World’S Daily Oil Consumption?

What is the current world oil consumption?

The agency also revised down its 2021 global oil demand estimate by 240,000 barrels per day to 97.1 million barrels per day, with jet fuel demand identified as the “major source” of weakness..

What percentage of oil consumption is used by cars?

In 2019, consumption of finished motor gasoline averaged about 9.31 million b/d (391 million gallons per day), which was equal to about 45% of total U.S. petroleum consumption….What are the petroleum products people consume most?ProductAnnual consumption (million barrels per day)Finished motor gasoline19.30916 more rows•Sep 3, 2020

How many barrels of oil are used each day?

20.54 million barrelsEIA uses product supplied to represent U.S. petroleum consumption. In 2019, the United States consumed an average of about 20.54 million barrels of petroleum per day, or a total of about 7.50 billion barrels of petroleum products.

Will oil price recover in 2020?

This page in: The pandemic is expected to have a lasting impact on oil consumption, with demand only likely to fully recover by 2023. Oil prices are forecast to rise to $44/bbl in 2021 from a projected $41/bbl in 2020, as the gradual rise in demand coincides with an easing of supply restraint among OPEC+.

Who is the biggest consumer of oil?

Largest oil consumption worldwide by country 2019 The United States and China are two of the largest consumers of oil in the world, totaling 19.4 million barrels per day and 14 million barrels per day, respectively.