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Petroleum Refining in the US - Industry Market Research Report

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    Report

  • 54 Pages
  • August 2022
  • Region: United States
  • IBISWorld
  • ID: 16711

Pricing pressure: Surging crude oil prices are expected to improve industry profit

Operators in the Petroleum Refining industry experienced volatile conditions over the five years to 2019. Rising crude oil prices powered revenue growth until the middle of 2014 due to refiners' ability to pass costs down the distribution line. Furthermore, low domestic crude oil prices, when compared with international crude oil, bolstered the competitiveness of US petroleum exports. However, since mid-2014, crude oil prices have declined due to slowing international demand and rapid production growth. As a result of these volatile conditions, industry revenue is expected to decline during the current period. Over the five years to 2024, the industry is forecast to rebound, with revenue anticipated to increase during the outlook period. This projected growth can be attributed to increases in fuel prices and consumption, as well as growth in global economic conditions.

Industry operators refine crude oil into petroleum products. Petroleum refining involves one or more of activities including fractionation, straight distillation of crude oil and cracking. This industry does not include companies that extract crude oil or retail gasoline.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.


Table of Contents

ABOUT THIS INDUSTRY
  • Industry Definition
  • Main Activities
  • Similar Industries
  • Additional Resources

INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
  • Executive Summary
  • Key External Drivers
  • Current Performance
  • Industry Outlook
  • Industry Life Cycle

PRODUCTS & MARKETS
  • Supply Chain
  • Products & Services
  • Demand Determinants
  • Major Markets
  • International Trade
  • Business Locations

COMPETITIVE LANDSCAPE
  • Market Share Concentration
  • Key Success Factors
  • Cost Structure Benchmarks
  • Basis of Competition
  • Barriers to Entry
  • Industry Globalization

MAJOR COMPANIES
OPERATING CONDITIONS
  • Capital Intensity
  • Technology & Systems
  • Revenue Volatility
  • Regulation & Policy
  • Industry Assistance

KEY STATISTICS
  • Industry Data
  • Annual Change
  • Key Ratios

JARGON & GLOSSARY

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Marathon Petroleum Corporation
  • Valero Energy Corp
  • Exxon Mobil Corporation
  • Chevron Corp
  • Bp Plc
  • Phillips 66 Co
  • Motiva Enterprises LLC
  • PBF Energy Inc.
  • Royal Dutch Shell Plc
  • Ergon Inc.
  • Sonneborn Llc
  • American Refining Group Inc.
  • Citgo Petroleum Corp
  • Waterford Oil Co. Inc.

Methodology

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