How much oil does the world consume each day? The total world consumption of crude oil in 1996 was 71.7 million barrels per day (there are 42 US gallons in a barrel, or 159 litres). OPEC estimates that total world oil consumption could reach around 100 million barrels per day by the year 2020. (From OPEC Annual Statistical Bulletin: 1996, OWEM Scenarios Report: 1998.) [www.opec.org]