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

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Crude Oil Price List

Crude oil is one of the most important commodities in the global economy, and its price is closely watched by governments, industries, and investors around the world. The price of crude oil is determined by various factors such as supply and demand dynamics, geopolitical events, production costs, and market speculation.

There are several benchmark prices for crude oil, with the most widely recognized being Brent crude and West Texas Intermediate (WTI) crude. Brent crude is a light, sweet crude oil that is produced in the North Sea, while WTI crude is a high-quality crude oil produced in the United States.

The prices of these different crude oil benchmarks are quoted in US dollars per barrel. The term "per barrel" refers to a unit of volume that is equivalent to about 159 liters or 42 gallons.

Brent Crude Oil Price

The Brent crude oil price is often used as a benchmark for global oil prices. It is traded on the Intercontinental Exchange (ICE) and represents the price at which crude oil from the North Sea is bought and sold. The Brent crude oil price is influenced by factors such as production levels in the North Sea, global oil demand, and geopolitical events that can affect oil supply.

West Texas Intermediate (WTI) Crude Oil Price

The WTI crude oil price is a benchmark for oil prices in the United States. It is traded on the New York Mercantile Exchange (NYMEX) and represents the price at which WTI crude oil is bought and sold. The WTI crude oil price is influenced by factors such as US oil production, US oil inventories, and domestic oil demand.

Other Crude Oil Benchmarks

In addition to Brent crude and WTI crude, there are several other crude oil benchmarks that are used in different regions around the world. Some of these include Dubai/Oman crude, Bonny Light crude, and OPEC Reference Basket.

Factors Affecting Crude Oil Prices

There are several factors that can influence the price of crude oil:

Supply and Demand: The basic principle of supply and demand applies to crude oil prices. If demand is high and supply is low, prices tend to rise. Conversely, if supply is high and demand is low, prices tend to fall.
Geopolitical Events: Political instability in major oil-producing countries can disrupt oil supply and lead to price fluctuations.
Production Costs: The cost of extracting and producing crude oil can vary depending on factors such as technology, labor costs, and government regulations. Higher production costs can put upward pressure on oil prices.
Market Speculation: The oil market is influenced by speculators who buy and sell oil contracts based on their expectations of future price movements. Speculation can amplify price volatility.

Importance of Crude Oil Price:

The price of crude oil has a significant impact on the global economy and financial markets. Here are a few reasons why crude oil prices are important:

Inflation: Changes in oil prices can have a direct impact on inflation rates. Higher oil prices can lead to increased production costs, which can then be passed on to consumers in the form of higher prices for goods and services.
Energy Costs: Oil is the primary source of energy for transportation, heating, and electricity generation. Therefore, changes in oil prices can affect energy costs for businesses and households.
Investment Opportunities: Crude oil prices can create investment opportunities for traders and investors. Many financial instruments, such as futures contracts and exchange-traded funds (ETFs), allow individuals and institutions to invest in crude oil.
Macroeconomic Indicators: Crude oil prices can be an indicator of economic health. Rising oil prices may indicate strong global demand and economic growth, while falling oil prices may signal weakness in the global economy.

It is important to note that crude oil prices are highly volatile and can be subject to sudden and significant changes. Economic and geopolitical events can have a major impact on oil prices, making them difficult to predict with certainty.

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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. 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. 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. 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. 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. 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. 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. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
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. 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. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
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
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
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