Monthly global liquid fuels consumption 2022-2024

Worldwide consumption for liquid fuels reached 103.1 million barrels per day in August 2024. Figures are expected to increase further throughout winter 2024/25. In 2024, global crude oil demand is forecast to average some 104.46 million barrels per day.

Regional differences

For the last few years, liquid fuel consumption has stayed relatively constant across regions. Despite seasonal and economic variances affecting demand patterns, fluctuations have been slight. In Europe, liquid fuel consumption tended to stay below 14 million barrels per day.

U.S. still greatest petroleum consumer

The United States remains the largest consumer of petroleum. The fossil fuel serves a great array of functions, from being a feedstock in the petrochemical industry to its use as a raw material for transportation fuels. Population numbers, economic size, industry presence, and wealth of its residents all contribute to a country’s need for this commodity. In the U.S., petroleum consumption amounts to nearly one billion metric tons, more than the combined consumption of both China and India.