Global Petroleum Market Overview 2020

Petroleum Market Size

The global petroleum market revenue amounted to $X in 2017, surging by X% against the previous year. In general, petroleum consumption continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011, with an increase of X% y-o-y. Over the period under review, the global petroleum market attained its peak figure level of $X in 2012; however, from 2013 to 2017, it failed to regain its momentum.

Petroleum Production

In 2017, approx. X tonnes of petroleum were produced worldwide; dropping by -X% against the previous year. In general, petroleum production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2012, with an increase of X% y-o-y. Over the period under review, the global petroleum production reached its peak figure volume of X tonnes in 2016, and then declined slightly in the following year.

Petroleum Exports

Exports 2007-2017

In 2017, approx. X tonnes of petroleum were exported worldwide; going up by X% against the previous year. The total export volume increased an average annual rate of +X% from 2007 to 2017; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2010, when exports increased by X% against the previous year. Global exports peaked in 2017, and are expected to retain its growth in the near future.

In value terms, petroleum exports totaled $X in 2017. Overall, petroleum exports continue to indicate a modest increase. Global exports peaked of $X in 2013; however, from 2014 to 2017, it failed to regain its momentum.

Exports by Country

In 2017, the U.S. (X tonnes), followed by Russia (X tonnes), Singapore (X tonnes), the Netherlands (X tonnes), South Korea (X tonnes) and India (X tonnes) represented the largest exporters of petroleum, together generating X% of total exports. The following exporters - China (X tonnes), Belgium (X tonnes), Saudi Arabia (X tonnes), the United Arab Emirates (X tonnes), Canada (X tonnes) and Malaysia (X tonnes) together made up X% of total exports.

From 2007 to 2017, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by the U.S. (+X% per year), while the other global leaders experienced more modest paces of growth.

In value terms, the U.S. ($X), Russia ($X) and Singapore ($X) appeared to be the countries with the highest levels of exports in 2017, with a combined X% share of global exports.

Among the main exporting countries, the U.S. (+X% per year) recorded the highest growth rate of exports, over the last decade, while the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average petroleum export price stood at $X per tonne in 2017, jumping by X% against the previous year. In general, petroleum export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011, when it surged by X% y-o-y. Over the period under review, the average export prices for petroleum reached its peak figure level of $X per tonne in 2012; however, from 2013 to 2017, it failed to regain its momentum.

There were significant differences in the average export prices amongst the major exporting countries. In 2017, the country with the highest export price was the United Arab Emirates ($X per tonne), while the U.S. ($X per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by the United Arab Emirates (+X% per year), while the other global leaders experienced more modest paces of growth.

Petroleum Imports

Imports 2007-2017

In 2017, the global petroleum imports amounted to X tonnes, remaining constant against the previous year. The total import volume increased an average annual rate of +X% from 2007 to 2017; the trend pattern remained consistent, with only minor fluctuations over the period under review. The most prominent rate of growth was recorded in 2010, with an increase of X% year-to-year. Global imports peaked in 2017, and are likely to see steady growth in the immediate term.

In value terms, petroleum imports stood at $X in 2017. In general, petroleum imports continue to indicate a slight growth. Global imports peaked of $X in 2013; however, from 2014 to 2017, it stood at a somewhat lower level.

Imports by Country

In 2017, the U.S. (X tonnes) and Singapore (X tonnes) were the major importers of petroleum in the globe, together creating X% of total imports. It was followed by the Netherlands (X tonnes), making up X% share of total imports. Mexico (X tonnes), Belgium (X tonnes), Germany (X tonnes), Malaysia (X tonnes), France (X tonnes), China (X tonnes), the UK (X tonnes), Indonesia (X tonnes) and Canada (X tonnes) held the weak share of total imports.

From 2007 to 2017, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Malaysia (+X% per year), while the other global leaders experienced more modest paces of growth.

In value terms, the U.S. ($X), Singapore ($X) and the Netherlands ($X) were the countries with the highest levels of imports in 2017, with a combined X% share of global imports. These countries were followed by Mexico, Germany, Belgium, France, the UK, Malaysia, Indonesia, China and Canada, which together accounted for a further X%.

In terms of the main importing countries, Malaysia (+X% per year) experienced the highest rates of growth with regard to imports, over the last decade, while the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2017, the average petroleum import price amounted to $X per tonne, rising by X% against the previous year. Overall, petroleum import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011, when it surged by X% year-to-year. Global import price peaked of $X per tonne in 2012; however, from 2013 to 2017, it failed to regain its momentum.

Average import prices varied somewhat amongst the major importing countries. In 2017, major importing countries recorded the following import prices: in the UK ($X per tonne) and Germany ($X per tonne), while China ($X per tonne) and Canada ($X per tonne) were amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Singapore (+X% per year), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox AI Platform