Top 20 Countries by Oil Consumption (2023)

Despite the growing momentum behind renewable energy and increasing concerns about climate change, oil remains the lifeblood of the global economy. The 2023 data on daily oil consumption provides a revealing snapshot of global energy patterns, economic activity, and the persistent role of petroleum in powering modern societies.

Top 20 Countries by Oil Consumption (2023)

The Dominant Consumers: United States and China

The United States maintains its position as the world’s largest oil consumer with a staggering 18,984,000 barrels consumed daily. This figure reflects America’s sprawling transportation infrastructure, industrial base, and energy-intensive lifestyle. With less than 5% of the world’s population, the U.S. consumes approximately 20% of global oil production.

China follows closely with 16,577,000 barrels per day, representing the culmination of decades of rapid industrialization and a growing middle class embracing automobile ownership. The narrowing gap between these two consumption giants highlights China’s continued economic expansion and the energy demands that come with development.

The Emerging Giants and Industrial Powers

India’s third-place position (5,446,000 barrels daily) reveals its emergence as a major energy consumer, though its per capita consumption remains far below Western levels. As India continues its development trajectory, its total consumption is expected to rise significantly in coming decades.

Saudi Arabia’s fourth-place ranking (4,052,000 barrels) is particularly notable given its relatively small population of approximately 35 million people. This reflects both its oil-based economy and heavily subsidized domestic energy prices that encourage consumption.

Russia (3,635,000), Japan (3,366,000), and South Korea (2,797,000) represent major industrial economies with significant manufacturing sectors and, in Russia’s case, vast geographic distances that drive consumption.

Surprising Entries and Regional Patterns

Several entries on the list might surprise casual observers. Singapore, with just 5.9 million residents, consumes 1,359,000 barrels daily, placing it 14th globally. This reflects its role as a major refining hub and shipping center rather than domestic consumption alone.

European nations appear relatively far down the list, with Germany (1,955,000), France (1,348,000), the United Kingdom (1,325,000), Spain (1,228,000), and Italy (1,221,000) all ranking lower than their economic weights might suggest. This reflects Europe’s stronger emphasis on energy efficiency, higher fuel taxes, better public transportation infrastructure, and more compact urban development patterns.

Producer-Consumers and Strategic Implications

Several major oil producers appear among the top consumers, including Saudi Arabia, Russia, Canada, Mexico, Iran, and the UAE. This “producer-consumer” status creates complex strategic considerations in global energy markets and international relations.

For oil exporters like Saudi Arabia and the UAE, high domestic consumption reduces export capacity and potential revenue. For countries like the United States, domestic production helps offset import needs despite high consumption.

Environmental and Economic Considerations

The scale of global oil consumption—approximately 73 million barrels daily among just these top 20 countries—highlights the enormous challenge of transitioning to a lower-carbon energy system. It also underscores the critical importance of oil to the functioning of the global economy, with implications for everything from geopolitics to climate policy.

As nations worldwide grapple with energy security concerns, climate commitments, and economic growth objectives, these consumption patterns represent both entrenched interests and opportunities for systemic change in how the world powers its economies.

Source: Energy Institute, 2023