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Apr 12, 2024 · Oil demand growing at a slower pace as post-Covid rebound runs its course Related charts Renewable fuel consumption by fuel, main case and Net Zero Scenario, 2023-2030
United States Oil Consumption was reported at 18,983.557 Barrel/Day th in Dec 2023. This records an increase from the previous number of 18,862.210 Barrel/Day th for Dec 2022. US Oil Consumption data is updated yearly, averaging 17,634.400 Barrel/Day th from Dec 1965 to 2023, with 59 observations.
In addition, more complete demand data for 1Q22, especially in the US, was sharply lower than preliminary estimates. As a result, global oil demand has been reduced by 260 kb/d for 2022 and is now forecast to average 99.4 mb/d, up by 1.9 mb/d from 2021.
In 2022, oil demand growth is expected at 4.2 mb/dunchanged from last month , with OECD and non-OECD projected to grow by 1.8 mb/d and 2.3 mb/d, respectively.
Monthly Oil Market Report 2022. The OPEC Monthly Oil Market Report (MOMR) covers major issues affecting the world oil market and provides an outlook for crude oil market developments for the coming year.
Dec 14, 2022 · World oil demand is set to contract by 110 kb/d y-o-y in 4Q22, reaching 100.8 mb/d, up by 130 kb/d compared with last month’s Report. Strong gasoil use in key consuming countries outweighs weak European and Asian petrochemical deliveries.
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Sep 14, 2022 · Highlights. Growth in global oil demand continues to decelerate, weighed down by renewed Chinese lockdowns and an ongoing slowdown in the OECD. This is partly offset by large-scale switching from gas to oil, estimated to average 700 kb/d during 4Q22 and 1Q23, double the level of a year ago.