The United States represents the top oil-consuming country in the world, with 19 million barrels per day. China is second with 16.4 million barrels per day, and India, the world’s most populous country, is third with 5.6 million barrels per day, which highlights their energy needs. However, India’s oil consumption has been growing at the fastest rate globally, growing at an average rate of 3.8% per year.
Notably, in 2024, the world’s 10 largest oil-consuming countries accounted for 61% of global oil consumption, according to Visual Capitalist. Despite slowing growth and the rise of green renewable energy, oil still remains the world’s primary source of energy.
The United States uses oil for transportation, industry, residential and commercial use, and power generation. In 2024, the country consumed 19 million barrels of oil per day, which is 18.7% of the world’s total.
Developing economy China is second on the list, using 16.1% of the world’s total oil. However, China’s per capita oil consumption is less than one-fifth of that of the United States; partly to compensate for this, the country relies heavily on coal in its fuel mix, according to Visual Capitalist.
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India is in third place, accounting for 5.5% of the world’s oil consumption in 2024. Unlike the United States and China, where oil demand growth has slowed in recent years, India is expected to remain the country with the highest demand for fuel oil until 2030, according to Visual Capitalist. This is mainly due to the growing strength of India’s economy and the stage of economic development.