Oil and oil product consumption

Oil demand grew by 1.7 Mb/d – similar to that seen in 2016 and significantly greater than the 10-year average of around 1.1 Mb/d

Oil consumption

Not surprisingly, oil demand in 2017 continued to be driven by oil importers benefitting from the windfall of low prices, with both Europe (0.3 Mb/d) and the US (0.2 Mb/d) posting notable increases, compared with average declines over the previous 10 years. Growth in China (0.5 Mb/d) was closer to its 10-year average. China and the US were the single largest contributors to growth.

Oil consumption per capita 2017 (tonnes)

Oil consumption per capita 2017 (tonnes)

Oil product consumption

Growth in consumer-led fuels most exposed to oil price movements – especially gasoline – slowed in 2017. In contrast, diesel demand bounced back, buoyed by the acceleration in industrial activity.

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.

Data are supplied in both volume and weight measures. An extended breakdown of oil consumption by product group e.g. gasoline, diesel/gasoil, jet/kerosene is available in the Excel workbook.

Regional consumption of oil products 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.

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