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Crude Oil Global Market Report 2024

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    Report

  • 250 Pages
  • February 2024
  • Region: Global
  • The Business Research Company
  • ID: 5769502
The crude oil market size has grown strongly in recent years. It will grow from $2829.69 billion in 2023 to $2998.39 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The expansion observed in the historical period can be ascribed to factors such as industrialization and economic growth, the transportation sector, the petrochemical industry, electricity generation, and the global demand for energy.

The crude oil market size is expected to see strong growth in the next few years. It will grow to $3655.81 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The anticipated growth in the forecast period can be linked to the evolution of transportation, the expansion of the petrochemical industry, challenges in energy transition, global economic development, and geopolitical factors. Notable trends expected in the forecast period include resilience in oil markets amidst energy transitions, a shift in investment trends towards renewable energy, diversification in downstream operations, global initiatives for energy security and independence, and changes in consumer behavior impacting transportation demand.

The growth in the crude oil market can be attributed to the increasing global demand for fossil fuels, particularly in developing countries such as China and India, alongside the anticipated stabilization of oil and gas prices. Fossil fuels, derived from decomposed plants and animals, are found in the Earth's crust and consist of carbon and hydrogen that can be burned for energy. Crude oil or petroleum, a liquid fossil fuel primarily composed of hydrocarbons, can be found in underground reservoirs, sedimentary rock crevices, pores, or near the Earth's surface in tar sands. According to the International Energy Agency's February 2023 report, the global contribution of renewable energy in the power generation mix is projected to increase from 29% to 35% by 2025, emphasizing the ongoing growth in demand for fossil fuels to meet global energy needs.

The expected growth in the crude oil market is further propelled by an increase in geopolitical tensions. Geopolitical tensions, involving political conflicts, disputes, or rivalries among nations, can impact crude oil prices by raising concerns about potential disruptions in oil supply due to conflicts or instability in key oil-producing regions. In 2021, there were 37,185 reported events of political violence targeting civilians, representing a 12% increase from the previous year, as reported by The Armed Conflict Location & Event Data Project (ACLED). The rise in civilian fatalities by 8%, from 35,879 in 2020 to 38,658 in 2021, further highlights the impact of geopolitical tensions on the growth of the crude oil market.

Oil and gas extraction companies are increasingly adopting digital oilfield technology to enhance production efficiency. This technology includes advanced tools such as high-performance drill bits, electrical submersible pumps, and 3D seismic imaging for reservoir modeling. Digitization in oilfields optimizes human resource utilization, leading to a ten percentage point improvement in oil production profitability.

Major companies in the crude oil market are forming strategic partnerships to develop new products and strengthen their market positions. Collaborations and partnerships foster shared resources, expertise, and risk, promoting the development of innovative solutions and efficient operations. For example, in November 2023, Nigerian National Petroleum Corporation Limited collaborated with Aiteo Eastern E&P Company Limited to introduce a new crude grade named Nembe, aiming to boost Nigeria's oil production. This joint venture, managing and marketing the Nembe crude stream, addresses challenges such as crude theft and pipeline attacks while aligning with Nigeria's goal of increasing oil output for enhanced government revenue. Another instance involves Vencer Energy LLC's acquisition of Hunt Oil Company's Midland Basin assets in April 2021, marking a significant step toward creating a substantial platform in the Lower 48 States and achieving Vencer's objective of owning high-quality, mature, and producing assets with development potential. This acquisition represents Vencer's first since its establishment by Vitol the previous year. Hunt Oil Company is an independent oil and gas company based in the United States.

Major companies operating in the crude oil market report are Saudi Arabian Oil Company, China National Petroleum Corporation, China Petroleum & Chemical Corporation, PetroChina Company Limited, Exxon Mobil Corporation, Royal Dutch Shell PLC, TotalEnergies SE, Chevron Corporation, BP PLC, Equinor ASA, ENI S.p.A., Gazprom OAO, Petróleos Mexicanos, Petrobras, Iraq National Oil Company, Rosneft Oil Company, Petroliam Nasional Berhad, ConocoPhillips, OMV Aktiengesellschaft, Sonatrach SPA, Qatar Petroleum, Occidental Petroleum Corporation, Ecopetrol S.A., Abu Dhabi National Oil Company, KazMunayGas, National Oil Corporation, PT Pertamina, Nigerian National Petroleum Corporation, Lukoil PJSC, Kuwait Petroleum Corporation.

Asia-Pacific was the largest region in the crude oil market in 2023. The regions covered in the crude oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the crude oil market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa. The crude oil market consists of sales of sweet crude oils, sour crude oils, light crude oils, medium crude oils, heavy crude oils, sweet light crude oils, and more. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Crude oil is categorized into main types, transport, industrial, and others. In this context, "industrial" refers to a company primarily engaged in the production of goods. The classification based on nature includes organic and conventional. Various end-users of crude oil encompass the food and beverage industry, personal care and cosmetics sector, biofuel and energy applications, pharmaceuticals, and other miscellaneous end users.

The crude oil market research report is one of a series of new reports that provides crude oil market statistics, including crude oil industry global market size, regional shares, competitors with a crude oil market share, detailed crude oil market segments, market trends and opportunities, and any further data you may need to thrive in the crude oil industry. This crude oil market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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Table of Contents

1. Executive Summary2. Crude Oil Market Characteristics
3. Crude Oil Product/Service Analysis -Product/Service Examples
3.1. Crude Oil Supply Chain Analysis
3.1.1. Crude Oil Resources
3.1.2. Crude Oil Manufacturers
3.1.3. Crude Oil Distributors and Retailers
3.1.4. Crude Oil End Users
3.2. Crude Oil Customer Information
4. Crude Oil Market Trends and Strategies
5. Crude Oil Market - Macro Economic Scenario
5.1. Impact of High Inflation on the Market
5.2. Ukraine-Russia War Impact on the Market
5.3. COVID-19 Impact on the Market
6. Global Crude Oil Market Size and Growth
6.1. Global Crude Oil Market Drivers and Restraints
6.1.1. Drivers of the Market
6.1.2. Restraints of the Market
6.2. Global Crude Oil Historic Market Size and Growth, 2018-2023, Value ($ Billion)
6.3. Global Crude Oil Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
7. Crude Oil Market Segmentation
7.1. Global Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Transport
  • Industrial
  • Other Types
7.2. Global Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Paraffin
  • Naphthene
  • Aromatic
  • Asphaltic
7.3. Global Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Organic
  • Conventional
8. Crude Oil Market Regional and Country Analysis
8.1. Global Crude Oil Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.2. Global Crude Oil Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
9. Asia-Pacific Crude Oil Market
9.1. Asia-Pacific Crude Oil Market Overview
Region Information, Impact of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
9.2. Asia-Pacific Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
9.3. Asia-Pacific Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
9.4. Asia-Pacific Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10. China Crude Oil Market
10.1. China Crude Oil Market Overview
10.2. China Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
10.3. China Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
10.4. China Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
11. India Crude Oil Market
11.1. India Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. India Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. India Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12. Japan Crude Oil Market
12.1. Japan Crude Oil Market Overview
12.2. Japan Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Japan Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.4. Japan Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13. Australia Crude Oil Market
13.1. Australia Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Australia Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Australia Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14. Indonesia Crude Oil Market
14.1. Indonesia Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. Indonesia Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. Indonesia Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. South Korea Crude Oil Market
15.1. South Korea Crude Oil Market Overview
15.2. South Korea Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. South Korea Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. South Korea Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16. Bangladesh Crude Oil Market
16.1. Bangladesh, Crude Oil Historic Market, 2018-2023, $ Billion
16.2. Bangladesh, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
17. Thailand Crude Oil Market
17.1. Thailand, Crude Oil Historic Market, 2018-2023, $ Billion
17.2. Thailand, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
18. Vietnam Crude Oil Market
18.1. Vietnam, Crude Oil Historic Market, 2018-2023, $ Billion
18.2. Vietnam, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
19. Malaysia Crude Oil Market
19.1. Malaysia, Crude Oil Historic Market, 2018-2023, $ Billion
19.2. Malaysia, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
20. Singapore Crude Oil Market
20.1. Singapore, Crude Oil Historic Market, 2018-2023, $ Billion
20.2. Singapore, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
21. Philippines Crude Oil Market
21.1. Philippines, Crude Oil Historic Market, 2018-2023, $ Billion
21.2. Philippines, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
22. Hong kong Crude Oil Market
22.1. Hong Kong, Crude Oil Historic Market, 2018-2023, $ Billion
22.2. Hong Kong, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
23. New Zealand Crude Oil Market
23.1. New Zealand, Crude Oil Historic Market, 2018-2023, $ Billion
23.2. New Zealand, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
24. Western Europe Crude Oil Market
24.1. Western Europe Crude Oil Market Overview
24.2. Western Europe Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. Western Europe Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. Western Europe Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. UK Crude Oil Market
25.1. UK Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.2. UK Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. UK Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. Germany Crude Oil Market
26.1. Germany Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.2. Germany Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. Germany Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27. France Crude Oil Market
27.1. France Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. France Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. France Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. Italy Crude Oil Market
28.1. Italy Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.2. Italy Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Italy Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. Spain Crude Oil Market
29.1. Spain Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.2. Spain Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Spain Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
30. Austria Crude Oil Market
30.1. Austria, Crude Oil Historic Market, 2018-2023, $ Billion
30.2. Austria, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
31. Belgium Crude Oil Market
31.1. Belgium, Crude Oil Historic Market, 2018-2023, $ Billion
31.2. Belgium, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
32. Denmark Crude Oil Market
32.1. Denmark, Crude Oil Historic Market, 2018-2023, $ Billion
32.2. Denmark, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
33. Finland Crude Oil Market
33.1. Finland, Crude Oil Historic Market, 2018-2023, $ Billion
33.2. Finland, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
34. Ireland Crude Oil Market
34.1. Ireland, Crude Oil Historic Market, 2018-2023, $ Billion
34.2. Ireland, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
35. Netherlands Crude Oil Market
35.1. Netherlands, Crude Oil Historic Market, 2018-2023, $ Billion
35.2. Netherlands, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
36. Norway Crude Oil Market
36.1. Norway, Crude Oil Historic Market, 2018-2023, $ Billion
36.2. Norway, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
37. Portugal Crude Oil Market
37.1. Portugal, Crude Oil Historic Market, 2018-2023, $ Billion
37.2. Portugal, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
38. Sweden Crude Oil Market
38.1. Sweden, Crude Oil Historic Market, 2018-2023, $ Billion
38.2. Sweden, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
39. Switzerland Crude Oil Market
39.1. Switzerland, Crude Oil Historic Market, 2018-2023, $ Billion
39.2. Switzerland, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
40. Eastern Europe Crude Oil Market
40.1. Eastern Europe Crude Oil Market Overview
40.2. Eastern Europe Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
40.3. Eastern Europe Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
40.4. Eastern Europe Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
41. Russia Crude Oil Market
41.1. Russia Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
41.2. Russia Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
41.3. Russia Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
42. Czech Republic Crude Oil Market
42.1. Czech Republic, Crude Oil Historic Market, 2018-2023, $ Billion
42.2. Czech Republic, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
43. Poland Crude Oil Market
43.1. Poland, Crude Oil Historic Market, 2018-2023, $ Billion
43.2. Poland, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
44. Romania Crude Oil Market
44.1. Romania, Crude Oil Historic Market, 2018-2023, $ Billion
44.2. Romania, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
45. Ukraine Crude Oil Market
45.1. Ukraine, Crude Oil Historic Market, 2018-2023, $ Billion
45.2. Ukraine, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
46. North America Crude Oil Market
46.1. North America Crude Oil Market Overview
46.2. North America Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
46.3. North America Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
46.4. North America Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
47. USA Crude Oil Market
47.1. USA Crude Oil Market Overview
47.2. USA Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
47.3. USA Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
47.4. USA Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
48. Canada Crude Oil Market
48.1. Canada Crude Oil Market Overview
48.2. Canada Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
48.3. Canada Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
48.4. Canada Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
49. Mexico Crude Oil Market
49.1. Mexico, Crude Oil Historic Market, 2018-2023, $ Billion
49.2. Mexico, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
50. South America Crude Oil Market
50.1. South America Crude Oil Market Overview
50.2. South America Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
50.3. South America Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
50.4. South America Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
51. Brazil Crude Oil Market
51.1. Brazil Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
51.2. Brazil Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
51.3. Brazil Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
52. Chile Crude Oil Market
52.1. Chile, Crude Oil Historic Market, 2018-2023, $ Billion
52.2. Chile, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
53. Argentina Crude Oil Market
53.1. Argentina, Crude Oil Historic Market, 2018-2023, $ Billion
53.2. Argentina, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
54. Colombia Crude Oil Market
54.1. Colombia, Crude Oil Historic Market, 2018-2023, $ Billion
54.2. Colombia, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
55. Peru Crude Oil Market
55.1. Peru, Crude Oil Historic Market, 2018-2023, $ Billion
55.2. Peru, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
56. Middle East Crude Oil Market
56.1. Middle East Crude Oil Market Overview
56.2. Middle East Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
56.3. Middle East Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
56.4. Middle East Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
57. Saudi Arabia Crude Oil Market
57.1. Saudi Arabia, Crude Oil Historic Market, 2018-2023, $ Billion
57.2. Saudi Arabia, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
58. Israel Crude Oil Market
58.1. Israel, Crude Oil Historic Market, 2018-2023, $ Billion
58.2. Israel, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
59. Iran Crude Oil Market
59.1. Iran, Crude Oil Historic Market, 2018-2023, $ Billion
59.2. Iran, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
60. Turkey Crude Oil Market
60.1. Turkey, Crude Oil Historic Market, 2018-2023, $ Billion
60.2. Turkey, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
61. United Arab Emirates Crude Oil Market
61.1. United Arab Emirates, Crude Oil Historic Market, 2018-2023, $ Billion
61.2. United Arab Emirates, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
62. Africa Crude Oil Market
62.1. Africa Crude Oil Market Overview
62.2. Africa Crude Oil Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
62.3. Africa Crude Oil Market, Segmentation by Derivatives, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
62.4. Africa Crude Oil Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
63. Egypt Crude Oil Market
63.1. Egypt, Crude Oil Historic Market, 2018-2023, $ Billion
63.2. Egypt, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
64. Nigeria Crude Oil Market
64.1. Nigeria, Crude Oil Historic Market, 2018-2023, $ Billion
64.2. Nigeria, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
65. South Africa Crude Oil Market
65.1. South Africa, Crude Oil Historic Market, 2018-2023, $ Billion
65.2. South Africa, Crude Oil Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
66. Crude Oil Market Competitive Landscape and Company Profiles
66.1. Crude Oil Market Competitive Landscape
66.2. Crude Oil Market Company Profiles
66.2.1. Saudi Arabian Oil Company
66.2.1.1. Overview
66.2.1.2. Products and Services
66.2.1.3. Strategy
66.2.1.4. Financial Performance
66.2.2. China National Petroleum Corporation
66.2.2.1. Overview
66.2.2.2. Products and Services
66.2.2.3. Strategy
66.2.2.4. Financial Performance
66.2.3. China Petroleum & Chemical Corporation
66.2.3.1. Overview
66.2.3.2. Products and Services
66.2.3.3. Strategy
66.2.3.4. Financial Performance
66.2.4. PetroChina Company Limited
66.2.4.1. Overview
66.2.4.2. Products and Services
66.2.4.3. Strategy
66.2.4.4. Financial Performance
66.2.5. Exxon Mobil Corporation
66.2.5.1. Overview
66.2.5.2. Products and Services
66.2.5.3. Strategy
66.2.5.4. Financial Performance
67. Crude Oil Market Other Major and Innovative Companies
67.1. Royal Dutch Shell plc
67.2. TotalEnergies SE
67.3. Chevron Corporation
67.4. BP plc
67.5. Equinor ASA
67.6. ENI S.p.A.
67.7. Gazprom OAO
67.8. Petróleos Mexicanos
67.9. Petrobras
67.10. Iraq National Oil Company
67.11. Rosneft Oil Company
67.12. Petroliam Nasional Berhad
67.13. ConocoPhillips
67.14. OMV Aktiengesellschaft
67.15. Sonatrach SPA
68. Global Crude Oil Market Competitive Benchmarking69. Global Crude Oil Market Competitive Dashboard70. Key Mergers and Acquisitions in the Crude Oil Market
71. Crude Oil Market Future Outlook and Potential Analysis
71.1 Crude Oil Market in 2028 - Countries Offering Most New Opportunities
71.2 Crude Oil Market in 2028 - Segments Offering Most New Opportunities
71.3 Crude Oil Market in 2028 - Growth Strategies
71.3.1 Market Trend-based Strategies
71.3.2 Competitor Strategies
72. Appendix
72.1. Abbreviations
72.2. Currencies
72.3. Historic and Forecast Inflation Rates
72.4. Research Inquiries
72.5. About the Analyst
72.6. Copyright and Disclaimer

Executive Summary

Crude Oil Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on crude oil market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
  • Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
  • Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
  • Measure the impact of high global inflation on market growth.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
  • Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
  • All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for crude oil? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
  • The forecasts are made after considering the major factors currently impacting the market. These include:
  • The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
  • The impact of higher inflation in many countries and the resulting spike in interest rates.
  • The continued but declining impact of COVID-19 on supply chains and consumption patterns.
  • Market segmentations break down the market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Report Scope

Markets Covered:
1) By Type: Transport; Industrial; Other Types
2) By Derivatives: Paraffin; Naphthene; Aromatic; Asphaltic
3) By Nature: Organic; Conventional

Key Companies Mentioned: Saudi Arabian Oil Company; China National Petroleum Corporation; China Petroleum & Chemical Corporation; PetroChina Company Limited; Exxon Mobil Corporation

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time Series: Five years historic and ten years forecast

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita

Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes

Delivery Format: PDF, Word and Excel Data Dashboard

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Saudi Arabian Oil Company
  • China National Petroleum Corporation
  • China Petroleum & Chemical Corporation
  • PetroChina Company Limited
  • ExxonMobil Corporation
  • Royal Dutch Shell plc
  • TotalEnergies SE
  • Chevron Corporation
  • BP plc
  • Equinor ASA
  • ENI S.p.A.
  • Gazprom OAO
  • Petróleos Mexicanos
  • Petrobras
  • Iraq National Oil Company
  • Rosneft Oil Company
  • Petroliam Nasional Berhad
  • ConocoPhillips
  • OMV Aktiengesellschaft
  • Sonatrach SPA
  • Qatar Petroleum
  • Occidental Petroleum Corporation
  • Ecopetrol S.A.
  • Abu Dhabi National Oil Company
  • KazMunayGas
  • National Oil Corporation
  • PT Pertamina
  • Nigerian National Petroleum Corporation
  • Lukoil PJSC
  • Kuwait Petroleum Corporation

Methodology

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Table Information