Here are the top 5 oil consuming countries, these rankings can change over time as countries economies evolve. Oil includes crude oil and petroleum products such as gasoline, diesel fuel, jet fuel, and other liquids. The transportation sector is the largest consumer of petroleum products in below listed countries.
- United States
- USA consume approximately 20.46 million barrels of petroleum products per day. The United States imported approximately 9.14 million barrels per day of crude oil and petroleum products. The top sources of U.S. oil imports were Canada, Mexico, and Saudi Arabia, which together accounted for over 50% of total U.S. oil imports.
- China consumes approximately 14.41 million barrels of petroleum products per day. China is the world’s second-largest oil-consuming country after the United States, and its consumption has been growing rapidly in recent years due to economic growth. China imports approximately 10.86 million barrels per day. The top sources of China’s oil imports were: Russia, Saudi Arabia, Angola, Iraq, Brazil. It’s worth noting that China is the world’s largest importer of crude oil and has become increasingly dependent on foreign oil to meet its growing demand for energy.
- India consumes approximately 5.05 million barrels per day of petroleum products. In terms of oil imports, India is heavily dependent on foreign oil to meet its energy needs. India imports approximately 203.8 million metric tons of crude oil. The top sources of India’s oil imports were: Russia, Iraq, Saudi Arabia, United Arab Emirates, Nigeria, United States, Kuwait, Iran, Angola.
- Japan consumes approximately 3.97 million barrels per day of petroleum products. Japan is heavily dependent on foreign oil to meet its energy needs. Japan imports approximately 3.4 million barrels per day of crude oil and petroleum products. The top sources of Japan’s oil imports in 2020 were: Saudi Arabia, United Arab Emirates, Qatar, Russia, Kuwait, the United States, Iran, and Australia.
- Russia is one of the world’s largest producers of crude oil and a major exporter of oil and petroleum products, but it is also a significant consumer of oil. Russia consumes approximately 3.8 million barrels per day of petroleum products. In terms of oil imports, Russia does not import significant amounts of crude oil, as it is largely self-sufficient in oil production. It’s worth noting that Russia is a major exporter of crude oil and petroleum products, with exports accounting for a significant share of its total oil production.
Other major oil consuming countries are Saudi Arabia, South Korea, Germany, Canada, Brazil, Iran, Mexico, Indonesia, France, United Kingdom.