Even with renewable sources of energy gaining market share in electricity production, oil remains the world's most important energy source when factoring transportation and heating. Using data from the International Energy Agency (IEA) analyst Florian Zandt at Statista shows 29% of the world's energy supply came from oil. In the graphic below, two countries in particular were very heavy oil consumers in 2022.
The United States consumed around 19 million barrels of oil per day, followed by its fiercest economic competitor China, which consumed around 14 million bpd. Notably, the usage of the next 8 top consumers combined only amounted to 2/3's of the amount used by the U.S. and China.