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Global Reserve Crude Oil Market: Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, EMR’s Key Indicators for Demand; EMR’s Key Indicators for Price; Value Chain Analysis; Competitive Landscape; Industry Events and Developments

Global Reserve Crude Oil Market Outlook

The global reserve crude oil market is being supported by the rising demand for fuel oil, which stood at a volume of nearly 100149.7 Kbpd in 2020. The demand for fuel oil is further expected to grow at a CAGR of 2% over the forecast period of 2021-2026 to attain a volume of 112784.9 Kbpd by 2026.

 

Global Reserve Crude Oil Market

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According to an estimate, there were 1.73 trillion barrels of oil in the world in 2018. The rising demand for crude oil, particularly from the world's largest user, the United States, is significantly contributing to the growth of the industry. As of 2018, a slight growth was recorded in the proven crude oil reserves, globally, in comparison to 2016. Non-OECD countries accounted of the majority of these reserves. The world's largest proven oil reserves are in the Middle East, Venezuela, Canada, and Russia. Country-wise, Venezuela has the largest reserves, and accounted for 17.5% of the world total in 2018, followed by Saudi Arabia, which occupied 17.2% of the world total. Along with large reserves, a country must have expertise to extract, refine, and ship the oil. Owing to the availability of advanced technology in the United States, the region is the leading oil producing country and accounted for 18% of the global share in the reserve oil market. The United States is followed by Saudi Arabia and Russia as the leading oil producers.

 

North America and the Middle East Regions to Significantly Contribute to the Growth of the Reserve Crude Oil Industry

North America and the Middle East regions are the leading consumers of crude oil, followed by Australia, Japan, and the Netherlands. North America, due to the availability of shale oil deposits and their increased exploitation with the help of advanced technology, has become one of the largest oil-consuming regions. Within North America, the United States extensively imports crude oil from Canada and Mexico to be further refined in the country’s refineries. The 12 OPEC (Organisation of Petroleum Exporting Countries) members hold 80% of the world's proven reserves, with the biggest importers being the United States, the European Union, and China. Meanwhile, the demand for the fuel oil is growing at a rapid pace in emerging economies such as China and India owing to the rising sales of commercial vehicles and rapid urbanisation across the nations, thus, providing enhanced growth opportunities to the industry.

 

Reserve Crude Oil: Industry Definition and Segmentation

Oil reserves are an estimate of the crude oil amount present in a specific economic region. Before the commercial utilisation of crude oil, it goes through extensive processing, involving primary recovery (through reservoir pressure) and secondary recovery (artificial lift). Crude oil is refined to produce usable products like gasoline, diesel, and others, along with different kinds of petrochemicals.

The regional markets for reserve crude oil include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Reserve Crude Oil Market By Region

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Rapid Urbanisation and the Rising Demand for Fuel Oil to Bolster the Growth of the Reserve Crude Oil Industry

The global reserve crude oil industry is being driven by the rising demand for fuel oil from across the globe. The rapid urbanisation and the rising technological advancements are aiding the industry growth. In North America, the presence of a large number of shale oil deposits and reserves, coupled with the region’s access to advanced technologies and equipment, is driving the regional market growth. The rising demand for refined crude oil products such as diesel and gasoline is further aiding the market growth. Europe, being the third-largest oil-consuming region, is witnessing a rise in the demand for fuel oil with the growing automotive sector. In the Asia Pacific region, the market has witnessed a healthy growth in the past few years due to the growing product demand from the emerging economies such as China, India, and South East Asian countries owing to the burgeoning population and rapid urbanisation in such regions.

Exxon Mobil Corporation (NYSE: XOM), a key player in the industry, announced an oil discovery on the Stabroek Block offshore Guyana at the Tripletail-1 well located in the Turbot area. The discovery added on to the previously estimated recoverable resource of over 6 billion oil-equivalent barrels on the Stabroek Block, thus, providing a further boost to the market. Further, the development of new types of technology is expected to make the crude oil extraction process economically feasible, which is expected to aid the industry in the future. If the prices of crude oil rise or the new technology makes extraction costs lower, then more fields become viable. However, the industry growth might be adversely affected by the rising shift towards alternative energy sources in the forecast period.

Key Industry Players in the Global Reserve Crude Oil Market

The report gives a detailed analysis of the following key players in the global reserve 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.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2016-2020
Forecast Period 2021-2026
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Region
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Exxon Mobil Corporation, BP plc, Royal Dutch Shell PLC, Total SA, Public Joint Stock Company Gazprom., Chevron Corporation, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Reserve Crude Oil Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Reserve Crude Oil Historical Market (2016-2020) 
    8.3    Global Reserve Crude Oil Market Forecast (2021-2026)
    8.4    Global Reserve Crude Oil Market by Region
        8.4.1    Market Share
            8.4.1.1    North America
            8.4.1.2    Europe
            8.4.1.3    Asia Pacific
            8.4.1.4    Latin America
            8.4.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Global Crude Oil Price Analysis
13    Global Crude Oil Trade Data Analysis (HS Code: 2709)

    13.1    Major Exporting Countries: By Value and Volume
    13.2    Major Importing Countries: By Value and Volume
14    Competitive Landscape
    14.1    Market Structure
    14.2    Company Profiles
        14.2.1    Exxon Mobil Corporation
            14.2.1.1    Company Overview
            14.2.1.2    Product Portfolio
            14.2.1.3    Demographic Reach and Achievements
            14.2.1.4    Certifications
        14.2.2    BP plc
            14.2.2.1    Company Overview
            14.2.2.2    Product Portfolio
            14.2.2.3    Demographic Reach and Achievements
            14.2.2.4    Certifications
        14.2.3     Royal Dutch Shell PLC
            14.2.3.1    Company Overview
            14.2.3.2    Product Portfolio
            14.2.3.3    Demographic Reach and Achievements
            14.2.3.4    Certifications
        14.2.4    Total SA
            14.2.4.1    Company Overview
            14.2.4.2    Product Portfolio
            14.2.4.3    Demographic Reach and Achievements
            14.2.4.4    Certifications
        14.2.5    Public Joint Stock Company Gazprom.
            14.2.5.1    Company Overview
            14.2.5.2    Product Portfolio
            14.2.5.3    Demographic Reach and Achievements
            14.2.5.4    Certifications
        14.2.6    Chevron Corporation
            14.2.6.1    Company Overview
            14.2.6.2    Product Portfolio
            14.2.6.3    Demographic Reach and Achievements
            14.2.6.4    Certifications
        14.2.7    Others
15    Industry Events and Developments


List of Figures and Tables

1.    Global Reserve Crude Oil Market: Key Industry Highlights, 2016 and 2026
2.    Global Reserve Crude Oil Historical Market: Breakup by Region (USD Million), 2016-2020
3.    Global Reserve Crude Oil Market Forecast: Breakup by Region (USD Million), 2021-2026
4.    North America Reserve Crude Oil Historical Market: Breakup by Country (USD Million), 2016-2020
5.    North America Reserve Crude Oil Market Forecast: Breakup by Country (USD Million), 2021-2026
6.    Europe Reserve Crude Oil Historical Market: Breakup by Country (USD Million), 2016-2020
7.    Europe Reserve Crude Oil Market Forecast: Breakup by Country (USD Million), 2021-2026
8.    Asia Pacific Reserve Crude Oil Historical Market: Breakup by Country (USD Million), 2016-2020
9.    Asia Pacific Reserve Crude Oil Market Forecast: Breakup by Country (USD Million), 2021-2026
10.    Latin America Reserve Crude Oil Historical Market: Breakup by Country (USD Million), 2016-2020
11.    Latin America Reserve Crude Oil Market Forecast: Breakup by Country (USD Million), 2021-2026
12.    Middle East and Africa Reserve Crude Oil Historical Market: Breakup by Country (USD Million), 2016-2020
13.    Middle East and Africa Reserve Crude Oil Market Forecast: Breakup by Country (USD Million), 2021-2026
14.    Major Crude Oil Exporting Countries: by Value
15.    Major Crude Oil Exporting Countries by Volume
16.    Major Crude Oil Importing Countries by Value
17.    Major Crude Oil Importing Countries by Volume
18.    Global Reserve Crude Oil Market Structure

Key Questions Answered in the Report

The global reserve crude oil market is being supported by the growing demand for fuel oil, which reached a volume of nearly 100149.7 Kbpd in 2020.

The fuel oil industry, which is supporting the growth of the market, is projected to grow at a CAGR of 2% between 2021 and 2026.

The global demand for fuel oil is expected to reach a volume of 112784.9 Kbpd by 2026.

The major drivers of the industry, such as the increasing demand for energy, rapid industrialisation and urbanisation, rising demand for fuel oil, and growing technological advancements, are expected to aid the market growth.

The key market trends guiding the growth of the industry include the growing E&P activities globally and the increasing investments towards the development of economically feasible technology for crude oil extraction.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major players in the industry are Exxon Mobil Corporation, BP plc, Royal Dutch Shell PLC, Total SA, Gazprom, Chevron Corporation, and Petroliam Nasional Berhad (PETRONAS), among others.

Analyst Review

The global reserve crude oil market is being driven by the growing fuel oil industry, which attained a volume of nearly 100149.7 Kbpd in 2020, driven by increasing global demand for energy and rapid urbanisation. Aided by the growing investments to develop improved technology, the fuel oil industry is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 2%. The fuel oil industry is projected to reach 112784.9 Kbpd by 2026.

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

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.

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