U.S. Petroleum Market. Analysis And Forecast to 2025
Update: COVID-19 Impact
Petroleum Market - U.S. Petroleum Export Value Shrank Dramatically, Following Plummeting Oil Prices
Photo: © dolgachov / Bigstockphoto
The U.S. owns a X% share (based on USD) of exports on the global petroleum market, tied for first place in the world together with Russia (X%). In 2015, the U.S. exported X billion USD, X% under the previous year. Overall, from 2007 to 2015, U.S. petroleum exports showed mixed dynamics. A significant drop in 2009 was followed by rocketing growth over the next four years, before losing its momentum in 2014. In 2015, there was a precipitous drop of the export value, clearly attributable to the sharp fall in oil prices.
In 2010, U.S. petroleum exporters almost regained their pre-recession level achieved in 2008. Even after the wild fluctuations of recent years, exports still remained higher than their 2008 level.
The drop of exports in value terms significantly reduced revenue, which negatively affected the development of the industry and investments in oil refining.
In 2015, the main destinations of U.S. petroleum exports were Mexico (X%), Canada (X%), the Netherlands (X%) and Colombia (X%). The share exported to Mexico (+X percentage points) and Colombia (+X percentage points) increased, while the share sent to Canada illustrated negative dynamics (-X percentage points) from 2007 to 2015.
Before 2010, the U.S. was a net importer of petroleum. Over the years, however, that deficit not only evaporated but turned into a X billion USD trade surplus in 2015, driven by rapidly rising exports.
Do you want to know more about the U.S. petroleum market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- petroleum market share
- petroleum prices
- petroleum industry
- petroleum sales
- petroleum market forecast
- petroleum price forecast
- keypetroleum producers
Source: IndexBox AI Platform
This report provides an in-depth analysis of the petroleum market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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