How much oil does the USA consume? The United States consumes an average of 20.6 million barrels of oil a day. The United States consumes almost all of the fresh oil produced domestically and imported on a daily basis. The U.S. produces a record-high amount of oil—roughly 14 million barrels per day (b/d) in 2024—and consumes about 20 million b/d of petroleum products, meaning daily supply is immediately refined, sold, and used, with imports filling the gap.
American Fuel & Petrochemical Manufacturers
Key Details on U.S. Oil Usage:
Production vs. Consumption: The U.S. is the world's top oil producer, but it also has the highest consumption rate, necessitating both high production and imports to meet daily demand.
Daily Turnover: Almost all crude oil produced or imported is directly refined into gasoline, diesel, and other products, rather than being stored long-term.
Imports Necessary: While the U.S. is a massive producer, its refineries often import heavy crude oil to blend with domestic light, sweet crude, ensuring that the oil arriving daily is consumed to meet immediate demand.
Net Exporter Status: As of 2022-2023, the U.S. has become a net exporter of total petroleum (including finished products), but it still imports crude oil to feed its refineries.