Economy & Politics

Energy These countries consume the most oil

Oil is on the rise. One can get this impression at least when looking at the demand in the ten largest oil consumers in the world. Six of the leading nations consumed more fossil fuel in 2019 than the year before. That emerges from the annual energy report of the oil company BP.

One reason for the trend towards oil was possibly the drop in prices. On the crude oil market, conflicts between the USA and Iran and China have resulted in falling prices. The Organization of the Petroleum Exporting Countries (OPEC) reduced their production. The drop of two million barrels was the biggest drop since 2009, according to BP.

Countries with the highest consumption of oil

In the corona crisis, the situation for the industry worsened. In April 2020, the price of a barrel of Brent crude fell to its lowest level in 20 years. However, many countries continue to have a high demand for crude oil and have even increased it. These countries consume the most oil in the world:

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