Oil and product consumption

Global oil consumption increased by 1.9 million b/d, nearly double the 10-year average, with above-average growth driven by OECD countries

Oil consumption

Consumption in the OECD increased by 510,000 b/d (+1.1%), compared with an average decline of 1.1% over the past decade. Growth was well above recent historical averages in the US (+1.6%, or 290,000 b/d) and the EU (+1.5%, or 200,000 b/d), while Japan (-3.9%, or -160,000 b/d) recorded the largest decline in oil consumption. Outside of the OECD, net oil importing countries recorded significant increases: China (+6.3%, or +770,000 b/d) once again accounted for the largest increment to demand, while India (+8.1%, or 310,000 b/d) surpassed Japan as the world’s third-largest oil consumer.

Oil consumption per capita 2015 (tonnes)

Methodology

Inland demand plus international aviation and marine bunkers and refinery fuel and loss. Consumption of biogasoline (such as ethanol), biodiesel and derivatives of coal and natural gas are also included.

Annual changes and shares of total are calculated using million tonnes per annum figures rather than thousand barrels daily.

Data are supplied in both volume and weight measures. An extended breakdown of oil consumption by product group is available in the Excel workbook.

Oil product consumption

Global gasoline demand rose at its fastest pace in at least 35 years as low oil prices buoyed demand for consumer-focused fuels.

Gasoline demand rose by 3.3% in 2015 (+800 Kb/d) - more than twice its 10-year average (1.5%) and the fastest rate of growth in our dataset. This strength was particularly apparent in the OECD, where gasoline demand grew by 260 Kb/d compared with a 10-year average decline of -60 Kb/d. Other consumer-focused fuels also rose rapidly with jet/kerosene up 3.5% (240 kb/d), well above its 10-year average rate (0.4%).

By contrast, industrial-focused fuels tended to fare worse, despite the fall in oil prices. Gasoil/diesel demand grew by only 1.2% in 2015 (320 Kb/d), slightly below its 10-year average (1.6%). This weakness was mainly outside the OECD, where gasoil/diesel demand continued to be sluggish, growing by only 110 Kb/d versus a 10-year average of 450 Kb/d.

Methodology

Regional consumption of oil products are classified in thousand barrels per day as: light distillates, middle distillates, fuel oil and others.

Light distillates

Light distillates consist of aviation and motor gasolines and light distillate feedstock (LDF).

Middle distillates

Middle distillates consist of jet, heating kerosenes, gas and diesel oils (including marine bunkers).

Fuel oil

Fuel oil includes marine bunkers and crude oil used directly as fuel.

Others

Others consist of refinery gas, liquefied petroleum gas (LPG), solvents, petroleum coke, lubricants, bitumen, wax, other refined products and refinery fuel and loss.

Middle distillates consist of jet, heating kerosenes, gas and diesel oils (including marine bunkers).

Related content