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U.S. Petroleum Market. Analysis And Forecast to 2025
Update: COVID-19 Impact

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U.S.: Petroleum Market Overview 2021

Petroleum Market Size in the U.S.

In 2020, the U.S. petroleum market decreased by -X% to $X, falling for the second consecutive year after two years of growth. In general, consumption saw a perceptible decrease. The pace of growth appeared the most rapid in 2017 when the market value increased by X% year-to-year. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2020, consumption failed to regain the momentum.

Petroleum Production in the U.S.

In value terms, petroleum production reduced slightly to $X in 2020. Over the period under review, production continues to indicate a noticeable setback. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% year-to-year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2020, production failed to regain the momentum.

Petroleum Exports

Exports from the U.S.

In 2020, overseas shipments of petroleum decreased by -X% to X tonnes, falling for the second year in a row after three years of growth. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, exports hit record highs at X tonnes in 2018; however, from 2019 to 2020, exports remained at a lower figure.

In value terms, petroleum exports declined markedly to $X in 2020. Overall, exports showed a deep downturn. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, exports reached the peak figure at $X in 2018; however, from 2019 to 2020, exports remained at a lower figure.

Exports by Country

India (X tonnes), Mexico (X tonnes) and China (X tonnes) were the main destinations of petroleum exports from the U.S., with a combined X% share of total exports. These countries were followed by Japan, Brazil, Turkey, Canada, Spain, Italy, Morocco, Pakistan, Honduras and Australia, which together accounted for a further X 2013 to 2020, the biggest increases were in Pakistan (+X% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), China ($X) and Canada ($X) constituted the largest markets for petroleum exported from the U.S. worldwide, with a combined X% share of total exports. India, Japan, Brazil, Spain, Australia, Turkey, Morocco, Italy, Honduras and Pakistan lagged somewhat behind, together comprising a further X (+X% per year) recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average petroleum export price stood at $X per tonne in 2020, declining by -X% against the previous year. In general, the export price continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when the average export price increased by X% y-o-y. Over the period under review, average export prices hit record highs at $X per tonne in 2018; however, from 2019 to 2020, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Australia ($X per tonne), while the average price for exports to Italy ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Spain, while the prices for the other major destinations experienced a decline.

Petroleum Imports

Imports into the U.S.

In 2020, the amount of petroleum imported into the U.S. fell dramatically to X tonnes, dropping by -X% compared with the year before. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by X% y-o-y. Imports peaked at X tonnes in 2018; however, from 2019 to 2020, imports remained at a lower figure.

In value terms, petroleum imports plummeted to $X in 2020. In general, imports, however, saw a deep reduction. The growth pace was the most rapid in 2018 when imports increased by X% year-to-year. As a result, imports attained the peak of $X. From 2019 to 2020, the growth imports remained at a somewhat lower figure.

Imports by Country

In 2020, Canada (X tonnes) constituted the largest petroleum supplier to the U.S., accounting for a X% share of total imports. Moreover, petroleum imports from Canada exceeded the figures recorded by the second-largest supplier, Spain (X tonnes), more than tenfold. Turkey (X tonnes) ranked third in terms of total imports with a X% share.

From 2013 to 2020, the average annual rate of growth in terms of volume from Canada amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-X% per year) and Turkey (+X% per year).

In value terms, Canada ($X) constituted the largest supplier of petroleum to the U.S., comprising X% of total imports. The second position in the ranking was occupied by Turkey ($X), with a X% share of total imports. It was followed by Greece, with a X% share.

From 2013 to 2020, the average annual rate of growth in terms of value from Canada stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+X% per year) and Greece (+X% per year).

Import Prices by Country

In 2020, the average petroleum import price amounted to $X per tonne, falling by -X% against the previous year. Over the period under review, the import price saw a deep contraction. The most prominent rate of growth was recorded in 2017 an increase of X% y-o-y. Over the period under review, average import prices reached the peak figure at $X per tonne in 2014; however, from 2015 to 2020, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2020, the countries with the highest prices were Greece ($X per tonne) and Turkey ($X per tonne), while the price for Spain ($X per tonne) and Canada ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Greece, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the leading suppliers of petroleum to the U.S.?
+
In value terms, Canada ($750M) constituted the largest supplier of petroleum to the U.S., comprising 82% of total imports. The second position in the ranking was occupied by Turkey ($39M), with a 4.3% share of total imports. It was followed by Greece, with a 3.8% share.
What are the leading importers of petroleum from the U.S.?
+
In value terms, the largest markets for petroleum exported from the U.S. were Mexico ($395M), China ($295M) and Canada ($259M), with a combined 32% share of total exports. India, Japan, Brazil, Spain, Australia, Turkey, Morocco, Italy, Honduras and Pakistan lagged somewhat behind, together accounting for a further 40%.
What is the average export price for petroleum in the U.S.?
+
In 2020, the average petroleum export price amounted to $81 per tonne, declining by -27.4% against the previous year.
What is the average import price for petroleum in the U.S.?
+
In 2020, the average petroleum import price amounted to $295 per tonne, waning by -23.4% against the previous year.

Product coverage:
• NAICS 324110 - Petroleum refineries

This report provides an in-depth analysis of the petroleum market in the U.S.. 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 2025.


Companies mentioned:
• Chevron Corporation
• Exxon Mobil Corporation
• Valero Energy Corporation
• Koch Industries
• Hollyfrontier Corporation
• Calumet Specialty Products Partners
• United Refining Company
• Western Refining
• Alon USA Energy
• Pbf Energy Company
• Pbf Energy
• Cvr Energy
• Murphy Oil Usa
• Chc McPherson Refinery
• BP America
• Delek US Holdings
• Marathon Petroleum Corporation
• Placid Refining Company
• Cvr Refining
• Northern Tier Energy
• Paulsboro Refining Company
• United Refining
• Valero Refining-New Orleans
• Shell Petroleum
• Exxonmobil Oil Corporation
• Placid Holding Company
• The Sinclair Companies
• United Acquisition Corp.
• Alon Refining Krotz Springs
• Pbf Holding Company
• Phillips 66 Company
• Alon USA Partners
• BP Corporation North America

Country coverage:
• USA

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in the U.S.
• 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. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2013–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2013–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2013–2020
Table 3:
Market Value, 2013–2020
Table 4:
Per Capita Consumption In 2013–2020
Table 5:
Imports, In Physical Terms, By Country, 2013–2020
Table 6:
Imports, In Value Terms, By Country, 2013–2020
Table 7:
Import Prices, By Country Of Origin, 2013–2020
Table 8:
Exports, In Physical Terms, By Country, 2013–2020
Table 9:
Exports, In Value Terms, By Country, 2013–2020
Table 10:
Export Prices, By Country Of Destination, 2013–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2013–2020
Figure 2:
Market Value, 2013–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2013–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2013–2020
Figure 5:
Trade Balance, In Physical Terms, 2013–2020
Figure 6:
Trade Balance, In Value Terms, 2013–2020
Figure 7:
Per Capita Consumption, 2013–2020
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2013–2020
Figure 21:
Production, In Value Terms, 2013–2020
Figure 22:
Imports, In Physical Terms, 2013–2020
Figure 23:
Imports, In Value Terms, 2013–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2013–2020
Figure 26:
Imports, In Value Terms, By Country, 2013–2020
Figure 27:
Import Prices, By Country Of Origin, 2013–2020
Figure 28:
Exports, In Physical Terms, 2013–2020
Figure 29:
Exports, In Value Terms, 2013–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2013–2020
Figure 32:
Exports, In Value Terms, By Country, 2013–2020
Figure 33:
Export Prices, By Country Of Destination, 2013–2020

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