Report Update: May 1, 2024

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

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Daily Brent Crude Prices

The daily Brent crude oil prices represent the average price at which the commodity is traded on a daily basis. Brent crude oil is one of the most widely used benchmarks for oil prices globally, and it provides a reference point for pricing various grades of crude oil around the world.

Oil prices are influenced by a multitude of factors, including supply and demand dynamics, geopolitical tensions, economic indicators, production levels, and speculative trading. As a result, the daily Brent crude oil prices can be quite volatile and subject to rapid fluctuations.

The prices of Brent crude oil are typically quoted in US dollars per barrel and are determined through trades on various commodity exchanges, including the Intercontinental Exchange (ICE) and the New York Mercantile Exchange (NYMEX).

Factors Affecting Daily Brent Crude Prices

Several factors impact the daily Brent crude oil prices:

1. Supply and Demand

The basic principle of supply and demand plays a significant role in determining the price of Brent crude oil. If the demand for oil surpasses the available supply, prices tend to rise. Conversely, if supply surpasses demand, prices may decline.

2. Geopolitical Tensions

Geopolitical tensions and conflicts in oil-producing regions, such as the Middle East, can greatly impact oil prices. An outbreak of war or political instability in major oil-producing countries can disrupt supply and cause prices to surge.

3. Economic Indicators

Economic indicators, such as GDP growth, inflation rates, and employment figures, also influence oil prices. Higher economic growth often leads to increased oil consumption and can drive up prices.

4. Production Levels

Changes in production levels among major oil-producing countries and organizations, such as OPEC (Organization of the Petroleum Exporting Countries), can significantly impact oil prices. Decisions to increase or decrease production quotas can affect the supply and demand balance of the market.

5. Speculative Trading

Speculative trading by hedge funds, institutional investors, and traders can also impact daily Brent crude prices. These speculators often buy or sell oil futures contracts based on their expectations of future price movements, which can influence short-term price volatility.

Importance of Daily Brent Crude Prices

The daily Brent crude oil prices are of immense importance for various stakeholders:

1. Oil Industry Participants

Oil companies, refineries, and traders closely monitor daily Brent crude prices as it directly affects their profitability and strategies. Fluctuations in oil prices can impact exploration and production activities, refinery operations, and profit margins.

2. Investors and Financial Institutions

Investors and financial institutions utilize daily Brent crude prices as a basis for making investment decisions in the energy sector. Commodities traders and hedge funds use oil price trends to determine trading strategies and make speculative bets on future price movements.

3. Governments and Economies

Government bodies and policymakers closely follow daily Brent crude prices as it can have significant implications for their economies. Oil-exporting countries heavily rely on oil revenues to fund their budgets, while oil-importing countries face the challenge of managing the impact of high oil prices on inflation and trade deficits.

4. Consumers

Consumers, especially in countries heavily dependent on oil imports, are directly impacted by changes in daily Brent crude prices. Fluctuations in oil prices can affect transportation costs, heating expenses, and the overall cost of goods and services.

In conclusion, the daily Brent crude oil prices play a crucial role in the global energy market. They serve as a benchmark for oil pricing, reflecting market dynamics driven by supply and demand, geopolitical events, economic indicators, production levels, and speculative trading.

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