Top 5 Countries with the Highest Oil Consumption in the World

4. Saudi Arabia        

Consumption of barrels per day in 2023 (in thousands): 4,052          

Consumption of barrels per day in 2022 (in thousands): 3,854        

Year-over-Year Change in Consumption: 5.1%

Saudi Arabia is a massive consumer of oil and why not? The Shoaiba power plant in the country is the largest fossil fuel power plant and has the capacity to extract 200,000 barrels a day of oil. However, despite the country’s ability to produce so much oil (share of 13.2% of total oil production in the world), placing it at the 2^nd spot in terms of oil production, the country’s consumption is quite a lot as well, and the country’s power and water sector still consumes oil (25% of total production) whereas oil has stopped being used as a source for power generation in rest of the world.