The United States
The United States, the world's biggest oil consuming country, consumed 18.5 million barrels of oil per day (mbd) in 2012, which accounted for nearly 20% of the world's total oil consumption per day. The highest level of oil consumption in US history was 20.8mbd, which occurred in 2005. Consumption has since been declining, however, and the nation consumed 2.3% less oil in 2012 compared to the previous year.
This decline in oil consumption during recent years is attributed to increased natural gas production and consumption, and the use of more fuel-efficient vehicles.
The US is a net importer of oil, but its oil imports declined from 12.4mbd in 2005 to 7.4mbd in 2012 as its total oil production steadily increased from 8.3mbd in 2005 to 11.1mbd in 2012.
China
China's oil consumption stood at 10.3mbd in 2012, accounting for about 11.7% of the world's total oil consumption making it the second biggest oil consumer after the US. China's oil consumption has more than doubled since 2000 and the consumption in 2012 increased by five percent compared to the previous year.
China is also the second biggest oil importing country in the world currently and its net oil imports have steadily climbed up from 3.43mbd in 2008 to 5.86mbd in 2012. China's total oil production during the period increased from 4mbd to 4.4mbd and the country is likely to surpass the US as the biggest oil importing country in the near future.
Japan
Japan consumed 4.7mbd of oil in 2012, becoming the world's third biggest oil consumer, with about 5.3% of the world's total oil consumption. The country consumed more than 5mbd of oil from 1989 to 2007 and the highest oil consumption in its history was recorded at 5.7mbd in 1996. Japan's oil consumption steadily declined from 2005 to 2009, but increased thereafter. Its oil consumption in 2012 was 6.3% higher than in the previous year.
Japan possesses very limited oil resources and is the third biggest oil importing country after the US and China. Oil imports increased from 4.25mbd in 2009 to 4.57mbd in 2012 and the total oil production during the same period increased from 125,000 barrels per day (bpd) to 135,000bpd. Japan has the fourth biggest refinery capacity in the world and most of its crude oil imports are from the Middle East.
India
India ranks fourth among the world's biggest oil consuming countries, its oil consumption in 2012 stood at 3.6mbd, five percent higher than the previous year, accounting for about 4.2% of the world's average oil consumption per day during the year. The country's oil consumption has increased about three-fold in the last 20 years.
India is also the fourth biggest oil importer in the world and its net oil imports doubled over 12 years, from 1.3mbd in 2000 to 2.6mbd in 2012. The country's total oil production during the same period increased from 772,000bpd to 990,000bpd. India's proven oil reserves as of 2013 were estimated at 5.48 billion barrels. The country imports most of the crude oil from the Middle East and has the fifth biggest refinery capacity in the world.
Russia
At 3.2mbd accounting for about 3.6% of the world's total oil consumption per day in 2012, Russia is fifth among the world's biggest oil consuming countries. Russia's oil consumption declined from 4.4mbd in 1992 to 2.48mbd in 1998 and again surpassed 3mbd mark in 2011. Its average daily oil consumption in 2012 was 2.5% higher than the previous year.
Russia is the third biggest oil producer after the United States and Saudi Arabia, and the second biggest oil exporter after Saudi Arabia. The country's total oil production increased from 9.8mbd in 2008 to 10.4mbd in 2012 and its net oil exports during the same period increased from 6.89mbd to 7.2mbd. European countries, especially Germany, Netherlands and Poland, account for more than 80% of Russia's oil exports.
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