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The World’s Biggest Oil Consuming Countries

It’s no surprise that the US is the world’s biggest oil-consuming country, consumed 19.88 million barrels of oil per day (mbd) in 2017, which accounted for nearly 20.2 percent of the world’s total oil consumption per day, according to the research unit of CEOWORLD magazine. China’s oil consumption stood at 12.79mbd in 2017, accounting for about 13 percent of the world’s total oil consumption making it the second biggest oil consumer after the United States.

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. So, just five nations account for more than 46% of global oil consumption.

Well, there are three major demand centers for oil in the world: the European Union, the United States, and the Asia-Pacific.

Oil demand in the Asia Pacific region climbed from 26.04 million BPD in 2007 to 34.57 million BPD in 2017. Of course, the primary reasons are China and India.

Chinese demand has increased by almost 5.0 million BPD over the past decade, from 7.8mbd in 2017 to 12.85mbd in 2017- by far the most of any country.  Similarly, oil demand in India has increased by almost 2.0 million BPD over the past decade, from 2.94mbd in 2007 to 4.69 million barrels of oil per day (mbd) in 2017.

So, what would happen if these five biggest oil-consuming countries — that need more than 45 million barrels of oil per day — reduced their consumption by half.

The world’s biggest oil consuming countries and share of total world oil consumption (Thousand Barrels per Day) in 2017:

RankCountryConsumption (Thousand Barrels per Day, 2017)Global share in percentage
1US1988020.2
2China1279913
3India46904.8
4Japan39884.1
5Saudi Arabia39184
6Russia32243.3
7Brazil30173.1
8South Korea27962.8
9Germany24472.5
10Canada24282.5
11Mexico19101.9
12Iran18161.8
13Indonesia16521.7
14France16151.6
15United Kingdom15981.6
16Singapore14301.5
17Thailand14231.4
18Spain12931.3
19Italy12471.3
20Australia10791.1
21Taiwan10511.1
22Turkey10071
23United Arab Emirates10071
24Netherlands8480.9
25Egypt8160.8
26Malaysia8030.8
27Iraq7910.8
28Argentina6700.7
29Belgium6610.7
30Poland6590.7
31Pakistan5890.6
32South Africa5800.6
33Venezuela5055
34Vietnam4860.5
35Philippines4550.5
36Kuwait4490.5
37Hong Kong4270.4
38Algeria4110.4
39Chile3830.4
40Qatar3540.4
41Colombia3440.4
42Sweden3200.3
43Greece3140.3
44Kazakhstan3110.3
45Morocco2820.3
46Austria2680.3
47Peru2590.3
48Portugal2560.3
49Israel2470.3
50Ecuador2370.2
51Norway2230.2
52Switzerland2220.2
53Ukraine2060.2
54Czech Republic2040.2
55Finland2030.2
56Romania2030.2
57Oman1890.2
58New Zealand1750.2
59Hungary1670.2
60Turkmenistan1550.2
61Bangladesh1460.1
62Belarus1350.1
63Sri Lanka1070.1
64Azerbaijan920.1
65Uzbekistan710.1

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Prof. Dr. Amarendra Bhushan Dhiraj
Prof. Dr. Amarendra Bhushan Dhiraj is chief executive and editorial director of The CEOWORLD magazine, overseeing the organization’s news and features departments.

Under Dr. Amarendra's leadership, The CEOWORLD magazine has become the world's most iconic news organization, whose rigorous reporting and unsurpassed storytelling connect with millions of business leaders every day.

Dr. Amarendra holds a Ph.D. in Finance and Banking from the European Global School in France; a Doctoral Degree in Chartered Accountancy from the European International University Paris; and a Doctorate in Business Administration from Kyiv National University of Technologies and Design (KNUTD), Ukraine.

He earned his Master of Business Administration degree in Finance and his Master's Degree In Chartered Accountancy (CA) from European Global School Paris. Dr. Amarendra also holds a Master of Business Administration degree in International Relations and Affairs from the American University of Athens, Alabama, United States. Prof. Dr. Amarendra Bhushan Dhiraj is a macro-economist and visiting professor at Kyiv National University of Technologies and Design (KNUTD), Ukraine.

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