Who Were the Biggest Oil and Gas Consumers in 2021?

Who Were the Biggest Oil and Gas Consumers in 2021?
BP's latest annual statistical review of world energy reveals the top oil and gas consumers of last year.

According to BP’s latest annual statistical review of world energy, the top oil consumer in the world in 2021 was the United States with a consumption rate of 18.68 million barrels per day.

BP highlighted that this figure was 8.7 percent up from 2020’s consumption rate, which was shown to be 17.18 million barrels per day. The U.S. consumed 19.42 million barrels of oil per day in 2019, 19.41 million barrels per day in 2018, 18.84 million barrels per day in 2017, 18.59 million barrels per day in 2016, and 18.49 million barrels per day in 2015, BP’s review showed.

China ranked second in oil consumption last year with 15.44 million barrels per day, while India ranked third with 4.87 million barrels per day, according to BP’s review. China’s consumption in 2021 marked a 7.2 percent increase compared to 2020 and India’s consumption last year marked a 3.8 percent gain on 2020, BP’s review highlighted.

In terms of natural gas consumption, the U.S. also took the 2021 top spot with a demand level of 826.7 billion cubic meters, BP’s review showed. Although this was the top consumption figure in the world last year, it marked a 0.4 percent drop compared to the 2020 U.S. natural gas consumption figure of 831.9 billion cubic meters, BP’s review outlined.

In 2019, the U.S. consumed 850.7 billion cubic meters of natural gas, in 2018 this figure was 821.7 billion cubic meters, in 2017 it was 740 billion cubic meters, in 2016 it was 749.1 billion cubic meters, and in 2015 it was 743.6 billion cubic meters, according to BP.

Russia ranked second in gas consumption last year with 474.6 billion cubic meters, while China ranked third with 378.7 billion cubic meters, BP’s review highlighted. Russia’s consumption figure was up 12.4 percent on 2020 and China’s consumption figure was up 12.8 percent on 2020, BP pointed out.

BP’s latest review highlighted that total world oil consumption in 2021 was 94.08 million barrels per day and total world natural gas consumption was 4.03 trillion cubic meters. Oil production was shown to have grown six percent compared to 2020, while gas production was shown to have grown 5.3 percent compared to 2020.

To see who produced the most oil and gas in 2021, click here. To contact the author, email andreas.exarheas@rigzone.com


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