World - Crude Oil and Processed Petroleum - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Mar 2, 2024

World - Crude Oil and Processed Petroleum - Market Analysis, Forecast, Size, Trends And Insights

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Crude Oil and Processed Petroleum Market

Crude oil and processed petroleum market: download the most recent information provided by an Ai-driven market research platform. Facts and figures cover exports, imports, consumption, production, market prices, companies, market size, and trade. There is a breakdown by country, including Latin America, EU, Russia, the Middle East, the U.S., China, the U.K., and Africa. Market trends and forecast to 2030 are also featured in the snapshots.


Get FREE access to the latest data and statistics on the Crude Oil and Processed Petroleum Market.

Crude Oil and Processed Petroleum - World's Largest Markets

RatingCountry
1United States
2China
3Saudi Arabia
4Russia
5Iran

In value terms, the United States led the market, alone. The second position in the ranking was occupied by China. It was followed by Saudi Arabia.

From 2018 to 2020, the average annual growth rate of value in the United States amounted to +1.6%. In the other countries, the average annual rates were as follows: China (-4.6% per year) and Saudi Arabia (-10.6% per year).

Crude Oil and Processed Petroleum Prices

Lowest Prices - FOB - Top Exporters

COUNTRY201820192020CAGR,
2018-2020
USD per ton
Canada346334241-16.5%
Brazil440429295-18.1%
Russia505459309-21.8%
Norway538487312-23.8%
Iraq478452315-18.8%
Kuwait520493325-20.9%
Kazakhstan534478335-20.8%
Saudi Arabia556502343-21.5%
Nigeria551496357-19.5%
United Arab Emirates624508380-22.0%
Netherlands610559392-19.8%
Iran5155155170.2%
United States6727406992.0%
Average542506374-17.0%

Prices varied noticeably by the country of origin; the country with the highest price was the United States ($699 per ton), while Canada ($241 per ton) was amongst the lowest.

From 2018 to 2020, the most notable rate of growth in terms of prices was attained by the United States, while the other global leaders experienced mixed trends in the export price figures.

Highest Prices - CIF - Top Importers

COUNTRY201820192020CAGR,
2018-2020
USD per ton
France561544394-16.2%
United Kingdom591543385-19.3%
Belgium557506374-18.1%
Japan558508371-18.5%
Germany575518360-20.9%
South Korea553497356-19.8%
Italy541492344-20.3%
Spain518569341-18.9%
Singapore520477340-19.1%
Netherlands572520335-23.5%
India514468334-19.4%
China524477330-20.6%
United States406382267-18.9%
Average525487345-18.9%

Average prices varied somewhat amongst the major importing countries. In 2020, major importing countries recorded the following prices: in France ($394 per ton) and the UK ($385 per ton), while the United States ($267 per ton) and China ($330 per ton) were amongst the lowest.

From 2018 to 2020, the most notable rate of growth in terms of prices was attained by France, while the other global leaders experienced a decline in the import price figures.

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Crude Oil and Processed Petroleum - Top Importers

COUNTRY201820192020CAGR,
2018-2020
billion USD
China259256188-14.8%
United States224194118-27.5%
India12010570-23.5%
South Korea1018757-24.9%
Japan988655-25.5%

In value terms, the largest crude oil and processed petroleum importing markets worldwide were China ($188.1B), the United States ($117.9B) and India ($70.5B), together accounting for 33% of global imports. South Korea, Japan, the Netherlands, Singapore, Germany, France, the UK, Belgium, Spain and Italy lagged somewhat behind, together accounting for a further 33%.

Among the main importing countries, Belgium recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced a decline in the imports figures.

Crude Oil and Processed Petroleum - Top Exporters

COUNTRY201820192020CAGR,
2018-2020
billion USD
Saudi Arabia217185121-25.3%
Russia207189118-24.7%
United States144153111-12.3%
United Arab Emirates10310168-18.7%
Canada808256-16.4%

In value terms, Saudi Arabia ($121.2B), Russia ($117.7B) and the United States ($111B) were the countries with the highest levels of exports in 2020, with a combined 29% share of global exports. The United Arab Emirates, Canada, Iraq, the Netherlands, Iran, Kuwait, Nigeria, Norway, Brazil and Kazakhstan lagged somewhat behind, together comprising a further 34%.

Among the main exporting countries, Iran saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced a decline in the exports figures.

Crude Oil and Processed Petroleum - Market Forecast

Driven by rising demand for crude oil and processed petroleum worldwide, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of for the period from 2020 to 2030, which is projected to bring the market volume to by the end of 2030.

Crude Oil and Processed Petroleum - Product Coverage

  • HS 2709 - Petroleum oils and oils obtained from bituminous minerals; crude
  • HS 2710 - Petroleum oils, oils from bituminous minerals, not crude; preparations n.e.s. containing less than 70% petroleum oils, oils from bituminous minerals; these being the basic constituents of the preparations

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global market for crude oil and processed petroleum. 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 2030.

Product coverage:

    Country coverage:

    Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

    + the largest producing countries

    Data coverage:

    • Global market volume and value
    • Per Capita consumption
    • Forecast of the market dynamics in the medium term
    • Global production, split by region and country
    • Global trade (exports and imports)
    • Export and import prices
    • Market trends, drivers and restraints
    • Key market players and their profiles

    Reasons to buy this report:

    • Take advantage of the latest data
    • Find deeper insights into current market developments
    • Discover vital success factors affecting the market

    This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

    In this report, you can find information that helps you to make informed decisions on the following issues:

    1. How to diversify your business and benefit from new market opportunities
    2. How to load your idle production capacity
    3. How to boost your sales on overseas markets
    4. How to increase your profit margins
    5. How to make your supply chain more sustainable
    6. How to reduce your production and supply chain costs
    7. How to outsource production to other countries
    8. How to prepare your business for global expansion

    While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

    1. 1. INTRODUCTION

      Making Data-Driven Decisions to Grow Your Business

      1. REPORT DESCRIPTION
      2. RESEARCH METHODOLOGY AND AI PLATFORM
      3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
      4. GLOSSARY AND SPECIFIC TERMS
    2. 2. EXECUTIVE SUMMARY

      A Quick Overview of Market Performance

      1. KEY FINDINGS
      2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
    3. 3. MARKET OVERVIEW

      Understanding the Current State of The Market and Its Prospects

      1. MARKET SIZE
      2. CONSUMPTION BY COUNTRY
      3. MARKET FORECAST TO 2030
    4. 4. MOST PROMISING PRODUCT

      Finding New Products to Diversify Your Business

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
      2. BEST-SELLING PRODUCTS
      3. MOST CONSUMED PRODUCT
      4. MOST TRADED PRODUCT
      5. MOST PROFITABLE PRODUCT FOR EXPORT
    5. 5. MOST PROMISING SUPPLYING COUNTRIES

      Choosing the Best Countries to Establish Your Sustainable Supply Chain

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
      2. TOP PRODUCING COUNTRIES
      3. TOP EXPORTING COUNTRIES
      4. LOW-COST EXPORTING COUNTRIES
    6. 6. MOST PROMISING OVERSEAS MARKETS

      Choosing the Best Countries to Boost Your Exports

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
      2. TOP CONSUMING MARKETS
      3. UNSATURATED MARKETS
      4. TOP IMPORTING MARKETS
      5. MOST PROFITABLE MARKETS
    7. 7. GLOBAL PRODUCTION

      The Latest Trends and Insights into The Industry

      1. PRODUCTION VOLUME AND VALUE
      2. PRODUCTION BY COUNTRY
    8. 8. GLOBAL IMPORTS

      The Largest Importers on The Market and How They Succeed

      1. IMPORTS FROM 2012–2023
      2. IMPORTS BY COUNTRY
      3. IMPORT PRICES BY COUNTRY
    9. 9. GLOBAL EXPORTS

      The Largest Exporters on The Market and How They Succeed

      1. EXPORTS FROM 2012–2023
      2. EXPORTS BY COUNTRY
      3. EXPORT PRICES BY COUNTRY
    10. 10. PROFILES OF MAJOR PRODUCERS

      The Largest Producers on The Market and Their Profiles

      This Chapter is Available Only for the Professional Edition PRO
    11. 11. COUNTRY PROFILES

      The Largest Markets And Their Profiles

      This Chapter is Available Only for the Professional Edition PRO
      • United States
      • China
      • Japan
      • Germany
      • United Kingdom
      • France
      • Brazil
      • Italy
      • Russian Federation
      • India
      • Canada
      • Australia
      • Republic of Korea
      • Spain
      • Mexico
      • Indonesia
      • Netherlands
      • Turkey
      • Saudi Arabia
      • Switzerland
      • Sweden
      • Nigeria
      • Poland
      • Belgium
      • Argentina
      • Norway
      • Austria
      • Thailand
      • United Arab Emirates
      • Colombia
      • Denmark
      • South Africa
      • Malaysia
      • Israel
      • Singapore
      • Egypt
      • Philippines
      • Finland
      • Chile
      • Ireland
      • Pakistan
      • Greece
      • Portugal
      • Kazakhstan
      • Algeria
      • Czech Republic
      • Qatar
      • Peru
      • Romania
      • Vietnam
    12. LIST OF TABLES

      1. Key Findings In 2023
      2. Market Volume, In Physical Terms, 2012–2023
      3. Market Value, 2012–2023
      4. Per Capita Consumption, By Country, 2018–2023
      5. Production, In Physical Terms, By Country, 2012–2023
      6. Imports, In Physical Terms, By Country, 2012–2023
      7. Imports, In Value Terms, By Country, 2012–2023
      8. Import Prices, By Country Of Destination, 2012–2023
      9. Exports, In Physical Terms, By Country, 2012–2023
      10. Exports, In Value Terms, By Country, 2012–2023
      11. Export Prices, By Country Of Origin, 2012–2023
    13. LIST OF FIGURES

      1. Market Volume, In Physical Terms, 2012–2023
      2. Market Value, 2012–2023
      3. Consumption, By Country, 2023
      4. Market Volume Forecast to 2030
      5. Market Value Forecast to 2030
      6. Products: Market Size And Growth, By Type
      7. Products: Average Per Capita Consumption, By Type
      8. Products: Exports And Growth, By Type
      9. Products: Export Prices And Growth, By Type
      10. Production Volume And Growth
      11. Exports And Growth
      12. Export Prices And Growth
      13. Market Size And Growth
      14. Per Capita Consumption
      15. Imports And Growth
      16. Import Prices
      17. Production, In Physical Terms, 2012–2023
      18. Production, In Value Terms, 2012–2023
      19. Production, By Country, 2023
      20. Production, In Physical Terms, By Country, 2012–2023
      21. Imports, In Physical Terms, 2012–2023
      22. Imports, In Value Terms, 2012–2023
      23. Imports, In Physical Terms, By Country, 2023
      24. Imports, In Physical Terms, By Country, 2012–2023
      25. Imports, In Value Terms, By Country, 2012–2023
      26. Import Prices, By Country, 2012–2023
      27. Exports, In Physical Terms, 2012–2023
      28. Exports, In Value Terms, 2012–2023
      29. Exports, In Physical Terms, By Country, 2023
      30. Exports, In Physical Terms, By Country, 2012–2023
      31. Exports, In Value Terms, By Country, 2012–2023
      32. Export Prices, 2012–2023
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