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Global Oil Demand Hit 


Record High In 


December


  • In December, global crude oil demand jumped to 1.3 million barrels per day, the highest level on record.

  • While global demand soared in December, production fell to a five-month low due to lower supply from the U.S. and UK.

  • The growth in demand in December was mainly driven by higher consumption in Japan, Indonesia, and South Korea.

Global oil demand surged by 1.3 million barrels per day (bpd) to a new record high in December, with total demand at 102% above the pre-Covid levels in December 2019, data from the Joint Organizations Data Initiative (JODI) showed on Monday. 

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