- Market Watch
- March 2, 2023
- 2 minutes read
Top 10 Largest Oil Consumers In Million Barrels Per Day
The United States of America consumes the most fuel in the world on a daily basis. It uses 19.89 million…
The world thrives on oil. Oil is needed to move engines, cars, and power generators that then produce power, among other things. Countries have raided other countries for oil. Oil has been used to alter and change policies around the world.
In some countries such as Kenya, an increase in fuel prices affects every Kenyan down the value chain. It is no surprise that the inflation rate often goes through the roof whenever the country’s Energy Petroleum and Regulatory Authority (EPRA) increases the price of fuel.
The whole world is said to consume at least 99.6 million barrels of oil daily. Of the total number of barrels consumed daily by the world, 10 countries consume 59.8 million barrels. Of these 10 countries that consume the most fuel, none of it is from Africa.
The United States of America consumes the most fuel in the world on a daily basis. It uses 19.89 million barrels each day. It is followed by China which consumes 14.76 million barrels. India comes in distant third with 4.79 million barrels daily.
Russia consumes 3.76 million barrels while Japan and Saudi Arabia consume 3.41 and 3.35 million barrels per day respectively. Brazil and South Korea consume 2.96 and 2.58 million barrels daily while Canada uses 2.26 million barrels. Germy uses 2.13 million barrels.
Most of the oil is used to power cars. There is a push in most first-world countries to do away with fuel-powered cars by 2030. The United Kingdom hopes to face oil-fuel-powered cars by 2025 with car manufacturers ordered to comply.
In Africa, the use of oil will remain king. Facing out oil, despite the push from the West will continue to be a dream for years to come. The continent will be used as a dumping site for the fuel-powered cars that will be rejected by the European world.
Most African countries are not energy-sufficient chance making it hard to face out anything that uses oil.