I'm American, so this is my personal usage and undertanding. I use siblings if I’m unsure of gender, and want to use a shorter construction than ‘brothers and/or sisters’. If I know someone only has brothers, or only has sisters, I probably wouldn’t bother with siblings: I’d simply say brothers or sisters. I use siblings less often than brother and sister, but I do use it.
Basically, sibling is used when brevity is more important than specificity, or where you actively don’t want to mention genders.
As A E mentioned, with a young child, I’d use brother/sister regardless, but mostly because I wouldn’t expect them to know the word sibling yet.