Report Update Apr 1, 2024

Northern America - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends and Insights

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Northern America: Crude Oil Market 2024

Crude Oil Market Size in Northern America

The North American crude oil market reduced to $X in 2022, dropping by X% against the previous year. Over the period under review, consumption showed a pronounced setback. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Crude Oil Production in Northern America

In value terms, crude oil production reduced to $X in 2022 estimated in export price. Overall, production showed a slight setback. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Crude Oil Exports

Exports in Northern America

In 2022, shipments abroad of crude petroleum oil increased by X% to X tons, rising for the sixth consecutive year after two years of decline. Over the period under review, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in years to come.

In value terms, crude oil exports surged to $X in 2022. Overall, exports continue to indicate strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Canada (X tons) and the United States (X tons) represented roughly X% of total exports in 2022.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%).

In value terms, Canada ($X) and the United States ($X) constituted the countries with the highest levels of exports in 2022.

The United States, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price showed a slight expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (X%).

Crude Oil Imports

Imports in Northern America

In 2022, supplies from abroad of crude petroleum oil increased by X% to X tons, rising for the third consecutive year after three years of decline. Overall, imports, however, continue to indicate a pronounced decline. The pace of growth was the most pronounced in 2016 with an increase of X%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, crude oil imports skyrocketed to $X in 2022. In general, imports, however, saw a perceptible decrease. The pace of growth was the most pronounced in 2021 when imports increased by X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United States dominates imports structure, resulting at X tons, which was near X% of total imports in 2022. It was distantly followed by Canada (X tons), constituting a X% share of total imports.

The United States was also the fastest-growing in terms of the crude petroleum oil imports, with a CAGR of X% from 2012 to 2022. Canada (X%) illustrated a downward trend over the same period. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported crude petroleum oil in Northern America, comprising X% of total imports. The second position in the ranking was taken by Canada ($X), with a X% share of total imports.

In the United States, crude oil imports plunged by an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, rising by X% against the previous year. Overall, the import price, however, showed a slight decrease. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (X%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for crude petroleum oil in Northern America?

The United States remains the largest crude oil consuming country in Northern America, comprising approx. 90% of total volume. Moreover, crude oil consumption in the United States exceeded the figures recorded by the second-largest consumer, Canada, ninefold.

What are the largest producers of crude petroleum oil in Northern America?

The United States remains the largest crude oil producing country in Northern America, comprising approx. 74% of total volume. Moreover, crude oil production in the United States exceeded the figures recorded by the second-largest producer, Canada, threefold.

What are the leading exporters of crude petroleum oil in Northern America?

In value terms, Canada and the United States constituted the countries with the highest levels of exports in 2022.

What are the leading importers of crude petroleum oil in Northern America?

In value terms, the United States constitutes the largest market for imported crude petroleum oil in Northern America, comprising 92% of total imports. The second position in the ranking was taken by Canada, with a 7.7% share of total imports.

What is the average export price for crude petroleum oil in Northern America?

The export price in Northern America stood at $674 per ton in 2022, surging by 50% against the previous year.

What is the average import price for crude petroleum oil in Northern America?

The import price in Northern America stood at $653 per ton in 2022, increasing by 46% against the previous year.

This report provides an in-depth analysis of the crude oil market in Northern America. 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:

Bermuda
Canada
Greenland
Saint Pierre and Miquelon
United States

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in Northern America, split by region and country
Trade (exports and imports) in Northern America
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. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. 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. 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
- Bermuda
- Canada
- Greenland
- Saint Pierre and Miquelon
- United States
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