Report Update: Jul 1, 2024

World - Crude Oil and Processed Petroleum - Market Analysis, Forecast, Size, Trends And Insights

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Crude Production by Country

Crude oil production is a significant indicator of a country's economic growth and energy dependence. It plays a crucial role in the global energy market, affecting oil prices, global politics, and international relations. Here is an overview of crude oil production by country:

United States

The United States is the leading crude oil producer globally, experiencing a substantial increase in production in recent years. With the advent of shale oil extraction technologies, the US surpassed Saudi Arabia and Russia to become the top producer. The country's crude production reached a record high of over 12 million barrels per day in 2019. The US predominately relies on tight oil extraction from shale formations, particularly in states like Texas and North Dakota.

Saudi Arabia

Saudi Arabia has long been one of the world's largest oil producers, holding significant reserves and having a considerable influence on global oil markets. It has played a pivotal role in stabilizing oil markets and adjusting global supply. The country's oil production primarily comes from giant oil fields like Ghawar and Safaniya. Saudi Arabia produced approximately 11.8 million barrels per day in 2019.

Russia

Russia has consistently been one of the largest crude oil producers globally, with a significant portion of its economy depending on oil exports. It has vast reserves and utilizes advanced drilling technologies for both onshore and offshore extraction. Although Russia occasionally exceeds Saudi Arabia in production, it produced around 11.5 million barrels per day in 2019.

Canada

Canada possesses extensive oil sands reserves, leading to substantial crude oil production. The country mainly produces oil from oil sands in the province of Alberta. Oil sands extraction requires complex processes and is considered more energy-intensive than conventional oil drilling. Canada produced approximately 5.5 million barrels per day in 2019, primarily exporting it to the United States.

China

China has experienced exponential growth in crude oil production due to its increasing energy consumption and economic expansion. The country's production mainly comes from large state-owned oil companies, and it has invested in offshore drilling in the South China Sea. China produced around 4.8 million barrels per day in 2019, still heavily reliant on oil imports to meet its domestic demand.

Iraq

Iraq possesses some of the largest oil reserves globally, particularly concentrated in the Basra region. Despite facing ongoing political and security challenges, Iraq has managed to increase its production significantly. In 2019, Iraq produced around 4.7 million barrels per day, with ambitions to further expand its oil industry in the coming years.

United Arab Emirates

The United Arab Emirates (UAE) has rapidly developed its oil industry, primarily in the last few decades. The UAE is a member of the Organization of the Petroleum Exporting Countries (OPEC) and has focused on expanding its production capacity. It produced approximately 4 million barrels per day in 2019, predominantly from offshore fields in the Persian Gulf.

Iran

Iran possesses substantial oil reserves and has been historically one of the world's largest oil producers. However, international sanctions and political tensions have significantly affected its production capabilities in recent years. In 2019, Iran produced approximately 3.2 million barrels per day, a considerable decline compared to its previous production levels.

Kuwait

Kuwait is another significant oil producer in the Middle East, holding substantial reserves and being a member of OPEC. It primarily produces oil from giant oil fields like Burgan and has continuously invested in its oil industry. In 2019, Kuwait produced around 2.7 million barrels per day.

Brazil

Brazil has witnessed a surge in crude oil production due to its offshore discoveries in deepwater pre-salt basins. The country has made significant investments in advanced drilling technologies and has become a major player in the global oil market. In 2019, Brazil produced approximately 2.7 million barrels per day.

Overall, crude oil production varies significantly by country, influenced by factors such as geology, technology, reserves, and political stability. The production levels of these top oil-producing countries have a considerable impact on global energy markets and play a crucial role in shaping the world economy.

This report provides an in-depth analysis of the global market for crude oil and processed petroleum. 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 2030.

Product coverage:

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

Global market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Global production, split by region and country
Global trade (exports and imports)
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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023