What is the current world consumption of crude oil per year?
35,442,913,090 barrels
World Oil Consumption The world consumes 35,442,913,090 barrels of oil as of the year 2016, equivalent to 97,103,871 barrels per day. 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.
How many barrels of oil are consumed per day?
EIA uses product supplied to represent U.S. petroleum consumption. In 2020, the United States consumed an average of about 18.19 million barrels of petroleum per day, or a total of about 6.66 billion barrels of petroleum.
How much oil does the world use per day?
Worldwide oil consumption reached approximately 88.5 million barrels per day in 2020.
Who are the 5 biggest oil consuming nations and how many barrels do each consume per day?
The top five here is completed by India, consuming 4.69 million barrels of oil per day; Japan, consuming 3.98 million barrels of oil per day; and Saudi Arabia consuming 3.91 million barrels of oil per day. Together, these five countries gobble up more than 45 million barrels every day.
Which country has the largest oil reserves 2020?
Venezuela has the largest amount of oil reserves in the world with 300.9 billion barrels. Saudi Arabia has the second-largest amount of oil reserves in the world with 266.5 billion barrels. Despite Venezuela’s large supply of natural resources, the country still struggles economically and its people are going hungry.
How much oil does the US use per day 2021?
Production by the Organization of the Petroleum Exporting Countries, or OPEC, is expected to average 27.2 million barrels a day in 2021, up from an estimated 25.6 million barrels a day in 2020, the agency forecast.
What is the current amount of crude oil in the world?
World Crude Oil Production is at a current level of 81.60M, down from 82.05M last month and down from 81.64M one year ago. This is a change of -0.55% from last month and -0.05% from one year ago. Category: Energy. Region: N/A. Report: International Energy Statistics.
What was the world oil consumption in 2010?
Interestingly enough, 2010 was also the time that Crude Oil prices plummeted because of supply and demand concerns. World Oil Consumption is at a current level of 88.48M, down from 97.60M one year ago. This is a change of -9.35% from one year ago. Loading… View and export this data back to 1965. Upgrade now.
When was the last time crude oil production increased?
Production has steadily increased over time, except in the 80s when production was lessened worldwide. This metric has been indicative to crude oil spot prices. An example of this is in 1990 when production steeply declined, leading to the WTI Crude Oil and Brent Crude Oil Spot prices to abrubtly increase.
What’s the forecast for global oil consumption in 2019?
EIA forecasts that global liquid fuels consumption will increase by 0.9 million barrels per day (b/d) in 2019, down from year-over-year growth of 1.3 million b/d in 2018.