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Energy Insight: World oil consumption (DSS26)

Energy Institute; 19/08/2019

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Energy Insight - Sources of energy information - statistics and basic industry facts

World oil consumption

Although the consumption of oil continues to increase globally, the rate of growth has generally been lower than 2% for decades. In 2018, consumption increased by only 1.16% over the previous year.

The declining trend, specifically observed in the developed markets, could be explained by diversification of the energy mix away from petroleum to gas, nuclear and renewable energy, a decline of industrial production in Europe, or increased energy efficiency.

Emerging markets consumption

As the developed markets consumption declines, emerging market countries sustain impressive growth rates. Specifically, the last 25 years in petroleum consumption has been marked by Asia's ascent in this area. China's oil consumption increased by over 5% in 2018 compared with 2017, but they still consumed only 70.3% of that consumed by the USA (which increased consumption by 1.8%).

Source: BP Statistical Review of World Energy

Energy Insight details

EI Datasheet 26.xlsx
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Physical description: Pdf; statistical datasheet, available to logged-in EI members and subscribers

Keywords: Statistics - Consumption - Energy consumption

Subjects: Statistics, Energy consumption, Crude oil, Oil and gas