- In 2022, the US led global oil consumption with 19 million barrels daily, while China followed with 14 million barrels.
- From 2012 to 2022, China and India exhibited the most significant growth in oil consumption, increasing by 42% and 41%, respectively.
- Of the BRICS nations, four are among the top eight oil consumers, with three showing a marked growth in oil consumption over the past ten years.
When looking at the change in oil consumption between 2012 and 2022, the picture changes significantly. U.S. oil usage only increased by about nine percent, with China and India emerging as growth leaders with 42 and 41 percent consumption growth, respectively. All in all, four out of the five BRICS countries are featured in the top 8 oil-consuming countries, and three out of four have shown a considerable increase in appetite for fossil fuel over the past decade.