Press Release
Press Release
Fuel oil is a fraction of crude oil, lighter than naphtha and petrol, obtained during fraction distillation during the refining of petroleum. Since the primary uses include heat generation and power generation in electricity generation, agriculture, commercial and residential purposes, the overall demand for fuel oil increases with increase in population and rising spending capabilities. Despite some constraints like disruption of supply during the COVID-19 pandemic and governmental regulations on crude oil due to its unsustainable nature, the overall demand is expected to rise in the forecast period 2024-2032.
The Middle East has been the primary supplier of crude oil and price variations are highly dependent on the supply from petroleum-producing countries from this region. There is high demand from countries in the Asia Pacific, especially India and China, where industrialisation is causing such a rise in the demand. The discovery of shale oil fields across North America and Africa are also expected to increase the supply of fuel oil. Across the world, Brazil, South Africa, and Chile have a high share in the fuel oil market, following the major oil-producing OPEC countries.
A major player in the fuel oil market is Royal Dutch Shell plc (NYSE: RDS.A) which is a multinational oil and natural gas company. In 2021, it entered into an agreement to sell its non-core Canadian assets in order to create finances for its other operations. Overall, the general trend in the fuel oil market appears to be mild but consistent growth in the forecast period.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
The major players in the global fuel oil market are ALICID ORGANIC INDUSTRIES LTD., Chevron Corporation, Public Joint Stock Company Gazprom., Qatar Petroleum, and Royal Dutch Shell Plc, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
Expert Market Research
Website: www.expertmarketresearch.com
Email: sales@expertmarketresearch.com
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.