Report Update: Jun 1, 2024

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

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Price of A Barrel of Oil on the Stock Market

The price of a barrel of oil is a key indicator in the global financial markets and is closely watched by investors, traders, and analysts. It serves as a benchmark for the cost of oil and directly impacts various industries and economies worldwide. The price of oil is determined by various factors including supply and demand dynamics, geopolitical events, economic indicators, and market sentiment.

Factors Affecting the Price of Oil

Supply and demand play a critical role in determining the price of oil. When global demand for oil exceeds supply, prices tend to rise, and when supply outstrips demand, prices generally fall. The Organization of the Petroleum Exporting Countries (OPEC) plays a crucial role in influencing oil prices as it accounts for a significant portion of global oil production and has the ability to adjust supply levels.

Geopolitical events and conflicts in major oil-producing regions can also have a significant impact on oil prices. For example, tensions in the Middle East, which is a major oil-producing region, can lead to supply disruptions and subsequently drive up prices. Additionally, natural disasters such as hurricanes or earthquakes in regions with oil infrastructure can disrupt supply and impact prices.

Economic indicators and market sentiment also influence the price of oil. Global economic growth and industrial activity tend to increase oil demand, putting upward pressure on prices. Conversely, economic downturns or concerns about future economic performance can depress oil prices. Market sentiment, such as investor perceptions of future supply and demand imbalances or geopolitical risks, can also drive short-term price movements.

Oil Price Benchmarks

There are several widely recognized oil price benchmarks that serve as references for the industry and financial markets. The most prominent benchmarks are:

West Texas Intermediate (WTI): WTI is a high-quality crude oil produced in the United States, specifically in the Permian Basin. It is a key benchmark for oil in the Americas and is traded on the New York Mercantile Exchange (NYMEX).
Brent Crude: Brent crude is a globally traded oil benchmark that represents oil prices in Europe, Africa, and the Middle East. It is produced in the North Sea and traded on the Intercontinental Exchange (ICE) in London.
Dubai Crude: Dubai crude is a benchmark for oil prices in the Asia-Pacific region. It is produced in Dubai and used as a reference for crude oil pricing in Asia.

The prices of these benchmarks are widely reported and can be easily accessed through financial news outlets, commodity trading platforms, and financial data providers.

Impact on Industries and Economies

Changes in oil prices have significant implications for various industries and economies:

Energy Sector: The energy sector, including oil producers, refiners, and exploration companies, directly feels the impact of oil price fluctuations. Higher oil prices generally lead to increased profitability for energy companies, while lower prices can squeeze profit margins and adversely affect their operations.

Transportation Sector: The transportation industry, particularly airlines and shipping companies, is heavily affected by oil prices as fuel costs account for a significant portion of their expenses. Higher oil prices can lead to increased ticket prices and shipping rates, which can impact consumer spending and global trade.

Consumer Spending: Oil price changes can impact consumer spending patterns. Higher oil prices can result in increased costs for goods and services, especially those that require energy-intensive production or transportation. This can ultimately impact household budgets and economic growth.

Geopolitical Stability: Oil-producing countries heavily reliant on oil revenues may experience economic and political instability if oil prices decline significantly. Conversely, higher oil prices can provide a boost to their economies.

In Conclusion

The price of a barrel of oil on the stock market is influenced by a multitude of factors, including supply and demand dynamics, geopolitical events, economic indicators, and market sentiment. Benchmarks such as WTI, Brent Crude, and Dubai Crude serve as references for oil prices globally. Changes in oil prices have far-reaching effects on industries and economies, impacting energy companies, transportation, consumer spending, and geopolitical stability.

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