World Oil Demand. Declines:. Oil embargo, 1973 Revolution in Iran, 1979 Economic crisis in Asia and FSU, 1997-98 . Oil Consumption. World Oil Demand. Increments in Oil Consumption by Region. Largest increase: Asia. World Oil Demand. Oil Consumption per Capita by Region. Declines:. Industrialized countries: oil price crises EE/FSU: collapse of communism Developing countries: no decline.