Oil City is a somewhat small city located in the state of Pennsylvania. With a population of 9,459 people and four associated neighborhoods, Oil City is the 119th largest community in Pennsylvania. Oil City has a large stock of pre-World War II architecture, making it one of the older and more historic cities in the country.

The percentage of adults in Oil City who are college-educated is close to the national average for all communities of 21.84%: 18.77% of the adults in Oil City have a bachelor's degree or advanced degree.

The per capita income in Oil City in 2022 was $28,567, which is lower middle income relative to Pennsylvania and the nation. This equates to an annual income of $114,268 for a family of four. However, Oil City contains both very wealthy and poor people as well.

The people who call Oil City home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Oil City residents report their race to be White, followed by Black or African-American. Important ancestries of people in Oil City include German, Irish, English, Polish, and Italian.

The most common language spoken in Oil City is English. Other important languages spoken here include German/Yiddish and Spanish.