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Global Crude Oil Market: By Region: North America, Europe, Asia Pacific, Latin America, Middle East and Africa; Historical Production and Consumption (2015-2019); Production and Consumption Forecast (2020-2025); Crude Oil Price Analysis; Crude Oil Trade Data Analysis - HS Code (2709); SWOT Analysis; EMR’s Key indicators for Demand'; EMR’s Key Indicators for Price; Competitive Landscape & Supplier Analysis; Events and Developments

Global Crude Oil Market Key Insights:

 

  • Market Performance
  • Market Analysis and Outlook 2020-2025
  • Price Trends
  • Trade Analysis
  • Breakup by Region
  • Cost Analysis
  • Competitive Landscape
  • Value Chain Analysis
  • Mergers and Acquisitions

 

Market Outlook

The global crude oil market is aided by the rising demand for fuel oil. The demand for fuel oil reached a volume of 100149.7 Kbpd in the year 2019. The demand is further expected to grow at a CAGR of 2% between 2020 and 2025 to attain a volume of 112784.9 Kbpd by 2025.

Global Crude Oil Market Report and Forecast 2020-2025

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In 2018, there was a slight increase in the proven crude oil reserves globally as compared to 2016. The global reserve was estimated to be around 1729 thousand million barrels in 2018. Non-OECD countries represented the majority of these reserves, accounting for 85.7% of these reserves. North America and the Middle East and Africa had the largest crude oil consumption in 2018, followed by Australia, Japan, and the Netherlands. North America is one of the largest oil-consuming regions, driven by large shale oil deposits and the technological capability to exploit such reserves. Within the region, the United States extensively imports crude oil from Canada and Mexico to be further refined in the country’s refineries. In the Asia Pacific region, China, India, and Korea are the major demand centres for crude oil, aided by the increase in commercial vehicles.

The Middle East is the largest oil-producing region in the world. The region also has the geographical advantage of being close and having easy access to the Asia Pacific and Europe, which happen to be the highest importing markets for crude oil. In 2018, the Middle East exported nearly 24640 million tons of crude oil. In the Asia Pacific and the Middle East, in spite of having a significant presence of private suppliers, the state-owned National Oil Companies (NOCs) is dominating the fuel market. In Africa and Latin America, the industry is dominated by the NOCs, and there is a low presence of private suppliers in the market. In North America and Europe, the oil suppliers are highly matured, giving intensive competition to the top global suppliers such as ExxonMobil, BP, and Shell.

Properties and Applications

Crude oil is an unrefined petroleum product, which occurs naturally and has to be further refined to produce diesel, gasoline, and other petrochemicals. It is a limited non-renewable resource, i.e., it cannot be replaced at the rate of its consumption.

The report covers the macro and micro aspects of the industry, like trade and price analysis. It also covers the regional markets of the product like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Market Analysis

In North America, the crude oil market is expected to be driven by the shale oil deposits and reserves, supported the region’s access to superior technologies, which help in exploiting these reserves. An increase in the export opportunities for refinery products like diesel and gasoline are also expected to aid the market growth. In Europe, which is the third-largest oil-consuming region, the market is propelled by the rise in the fuel demand for vehicles, as a result of increasing the imports in Europe. The Asia Pacific is the largest consuming region of crude oil. There is high demand from emerging economies such as China, India, and South East Asian countries owing to the anticipated rise in the number of commercial vehicles. The market in these emerging economies is also supported by the burgeoning population and rapid urbanisation.

The increase in economic activities is strengthening the market in Africa, along with the discovery of new shale oil reserves in the region. The Middle East is the largest oil-producing region in the world. The market in the region is driven by the high domestic consumption and the import demand from regions like the Asia Pacific and Europe.  The market in Latin America is aided by the large shale oil reserves in Argentina, which are the second largest after the North American reserves. The industry in Latin America is expected to be driven by the rise in upstream demand. The recovery in the GDP of major oil-consuming regions is also supporting the growth of the crude oil market. However, in the forecast period, the growth of the industry might be adversely affected by the rising shift towards alternative energy sources by regions like the European Union.

Competitive Landscape

June 2019: BP (NYSE: BP) has reached an agreement with Dragon Oil, a wholly-owned subsidiary of the Emirates National Oil Company (ENOC) based in Dubai, to sell its interest in the Gulf of Suez Petroleum Company (GUPCO) in Egypt.

The report gives a detailed analysis of the following key players in the global crude oil market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Exxon Mobil Corporation
  • BP plc
  • Royal Dutch Shell PLC
  • Total SA
  • Gazprom
  • Chevron Corporation
  • Petroliam Nasional Berhad (PETRONAS) 
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter’s five forces model along with giving a SWOT analysis.

1    Preface
    1.1    Objectives of the Study
        1.1.1    Research Objective
        1.1.2    Key Findings of the Report
2    Research Methodology
    2.1    Data Extraction
    2.2    Data Corroboration
    2.3    Market Structure
    2.4    Assumptions
    2.5    Market Models
3    Introduction
    3.1    Market Outlook
    3.2    Market Scope and Segmentation
    3.3    Additional Insights
4    Executive Summary
    4.1    Key Market Developments
    4.2    Market Analysis
    4.3    Key Players
    4.4    Cost Structure
    4.5    Market Revenue and Growth
5    Market Dynamics
    5.1    Market Driver Analysis
    5.2    Market Restraint Analysis
    5.3    Industry Challenges
    5.4    Industry Opportunities
6    Global Crude Oil Market Analysis
    6.1    Figure: Global Crude Oil Historical Production (2015-2019) & Forecast (2020-2025)
    6.2    Figure: Global Crude Oil Historical Consumption (2015-2019) & Forecast (2020-2025)
    6.3    Chart: Global Crude Oil Market Breakup by Region
        6.3.1    North America
            6.3.1.1    United States of America
            6.3.1.2    Canada
        6.3.2    Europe
            6.3.2.1    Germany
            6.3.2.2    United Kingdom
            6.3.2.3    France
            6.3.2.4    Italy
            6.3.2.5    Others
        6.3.3    Asia Pacific
            6.3.3.1    China
            6.3.3.2    Japan
            6.3.3.3    India
            6.3.3.4    ASEAN
            6.3.3.5    Others
        6.3.4    Latin America
            6.3.4.1    Brazil
            6.3.4.2    Argentina
            6.3.4.3    Mexico
            6.3.4.4    Others
        6.3.5    Middle East & Africa
            6.3.5.1    Saudi Arabia
            6.3.5.2    United Arab Emirates
            6.3.5.3    Nigeria
            6.3.5.4    South Africa
            6.3.5.5    Others
    6.4    Figure: Global Crude Oil Market Breakup by Region: Historical Market (2015-2019) & Forecast (2020-2025)
        6.4.1    North America
            6.4.1.1    United States of America
            6.4.1.2    Canada
        6.4.2    Europe
            6.4.2.1    Germany
            6.4.2.2    United Kingdom
            6.4.2.3    France
            6.4.2.4    Italy
            6.4.2.5    Others
        6.4.3    Asia Pacific
            6.4.3.1    China
            6.4.3.2    Japan
            6.4.3.3    India
            6.4.3.4    ASEAN
            6.4.3.5    Others
        6.4.4    Latin America
            6.4.4.1    Brazil
            6.4.4.2    Argentina
            6.4.4.3    Mexico
            6.4.4.4    Others
        6.4.5    Middle East & Africa
            6.4.5.1    Saudi Arabia
            6.4.5.2    United Arab Emirates
            6.4.5.3    Nigeria
            6.4.5.4    South Africa
            6.4.5.5    Others
    6.5    Figure: Global Reserve Crude Oil Historical Market (2015-2019) & Forecast (2020-2025)
    6.6    Chart: Global Reserve Crude Oil Market Breakup by Region
        6.6.1    North America
        6.6.2    Europe
        6.6.3    Asia Pacific
        6.6.4    Latin America
        6.6.5    Middle East and Africa
    6.7    Figure: Global Reserve Crude Oil Market Breakup by Region: Historical Market (2015-2019) & Forecast (2020-2025)
        6.7.1    North America
        6.7.2    Europe
        6.7.3    Asia Pacific
        6.7.4    Latin America
        6.7.5    Middle East and Africa
    6.8    Figure: Global Fuel Oil Historical Market (2015-2019) & Forecast (2020-2025)
7    Global Crude Oil Price Analysis
    7.1    North America Historical Price Trends (2015-2019) and Forecast (2020-2025)
    7.2    Europe Historical Price Trends (2015-2019) and Forecast (2020-2025)
    7.3    Asia Pacific Historical Price Trends (2015-2019) and Forecast (2020-2025)
    7.4    Latin America Historical Price Trends (2015-2019) and Forecast (2020-2025)
    7.5    Middle East and Africa Historical Price Trends (2015-2019) and Forecast (2020-2025)
8    Global Crude Oil Trade Data Analysis - HS Code (2709)
    8.1    Major Exporting Countries: By Value and Volume
    8.2    Major Importing Countries: By Value and Volume
9    SWOT Analysis
    9.1    Overview
    9.2    Strengths
    9.3    Weaknesses
    9.4    Opportunities
    9.5    Threats
10    Porter’s Five Forces Analysis
    10.1    Overview
    10.2    Buyer’s Power
    10.3    Supplier’s Power
    10.4    New Entrants
    10.5    Degree of Rivalry
    10.6    Substitutes
11    EMR’s Key Indicators for Demand
12    EMR’s Key Indicators for Price
13    Competitive Landscape & Supplier Analysis

    13.1    Exxon Mobil Corporation
        13.1.1    Company Overview
        13.1.2    Financial Analysis
    13.2    BP plc
        13.2.1    Company Overview
        13.2.2    Financial Analysis
    13.3    Royal Dutch Shell PLC
        13.3.1    Company Overview
        13.3.2    Financial Analysis
    13.4    Total SA
        13.4.1    Company Overview
        13.4.2    Financial Analysis
    13.5    Gazprom
        13.5.1    Company Overview
        13.5.2    Financial Analysis
    13.6    Chevron Corporation
        13.6.1    Company Overview
        13.6.2    Financial Analysis
    13.7    Petroliam Nasional Berhad (PETRONAS) 
        13.7.1    Company Overview
        13.7.2    Financial Analysis
    13.8    Others
14    Events and Developments

The rising fuel oil demand is aiding the growth of the global crude oil market. The global fuel oil demand attained a volume of 100149.7 Kbpd in 2019. It is expected to witness a further growth in the forecast period of 2020-2025, growing at a CAGR of 2%. The demand is projected to reach 112784.9 Kbpd by 2025.

EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. The major regional markets for the product are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Middle East being the leading oil producing region globally. The key players in the industry include Exxon Mobil Corporation, BP plc, Royal Dutch Shell PLC, Total SA, Gazprom, Chevron Corporation, Petroliam Nasional Berhad (PETRONAS), and others.

The major drivers of the industry such as increasing population, growing automobile industry, increasing demand from the Asia Pacific, and rising number of oil reserves are expected to aid the market growth. EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

EMR’s approach gives their clients a comprehensive assessment of the prevailing and projected market conditions through the collection, collation, and analysis of data from trusted sources. The key questions answered in the market study are:

  • How has the global crude oil market performed in the previous years (2015-2019)?
  • What is the forecast assessment of the crude oil market for 2020-2025?
  • What are the major industry drivers and constraints?
  • What are the major price and demand indicators of the global crude oil market?
  • What are the price trends of the product in the global industry?
  • Who are the key players in the global crude oil market?
  • What is the degree of competition in the global crude oil market?
  • What are the import and export trends in the global crude oil market?
  • Who are the top importers and exporters of the product in the global industry?

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