World - Crude Oil and Processed Petroleum - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice of Crude Oil by Month
Crude oil is one of the most important commodities in the world, and its price has a significant impact on the global economy. The price of crude oil is influenced by various factors, including supply and demand dynamics, geopolitical tensions, global economic growth, and weather conditions. As a result, the price of crude oil can be highly volatile and subject to significant fluctuations.
Crude Oil Price History
Historically, the price of crude oil has experienced several boom and bust cycles. The most notable price movements occurred in the 1970s and early 1980s when the Organization of Petroleum Exporting Countries (OPEC) implemented oil embargoes and manipulated supply to drive up prices. This period was characterized by sharp price spikes and volatility.
In recent years, the price of crude oil has been influenced by a new set of factors. The global financial crisis in 2008, increased production from unconventional sources such as shale oil, and geopolitical tensions in the Middle East have all contributed to significant price fluctuations.
Monthly Crude Oil Prices
Here is a monthly breakdown of crude oil prices over the past few years:
- January 2017: $54.87 per barrel
- February 2017: $54.04 per barrel
- March 2017: $50.60 per barrel
- April 2017: $52.97 per barrel
- May 2017: $49.68 per barrel
- June 2017: $46.59 per barrel
- July 2017: $48.88 per barrel
- August 2017: $47.19 per barrel
- September 2017: $50.58 per barrel
- October 2017: $52.33 per barrel
- November 2017: $58.36 per barrel
- December 2017: $61.46 per barrel
The prices provided above are based on the average daily closing price of Brent crude oil. Brent is one of the major benchmarks for global oil prices and is widely used for pricing crude oil worldwide.
Factors Affecting Crude Oil Prices
As mentioned earlier, the price of crude oil is influenced by various factors. Let's take a closer look at some of the key factors that affect crude oil prices:
Supply and Demand Dynamics:
The most fundamental factor affecting crude oil prices is the balance between global supply and demand. If supply exceeds demand, prices tend to decline, and if demand exceeds supply, prices tend to rise. This balance is influenced by various factors such as production levels, global economic growth, and changes in consumption patterns.
Geopolitical Tensions:
Geopolitical tensions, especially in major oil-producing regions, can have a significant impact on crude oil prices. Conflicts, wars, and political instability can disrupt production and transportation, leading to supply disruptions and price increases.
Global Economic Growth:
Crude oil is a key input in many industries and is closely tied to global economic growth. Strong economic growth typically leads to increased oil demand, which can put upward pressure on prices. Conversely, a slowdown in economic growth can lead to decreased oil demand and lower prices.
Weather and Natural Disasters:
Weather conditions and natural disasters can also affect crude oil prices. For example, hurricanes in the Gulf of Mexico can disrupt offshore oil production and refining operations, leading to supply disruptions and price spikes.
Speculation and Financial Markets:
Speculation and trading activity in financial markets can also influence crude oil prices. Investors and traders can take positions in oil futures contracts, which can impact prices. Additionally, developments in other financial markets, such as currency or stock markets, can indirectly impact oil prices.
Conclusion
The price of crude oil is influenced by a complex interplay of factors, from supply and demand dynamics to geopolitical tensions and global economic growth. As a result, the price of crude oil can be highly volatile and subject to significant fluctuations. Understanding these factors is crucial for businesses and individuals who rely on oil, as well as policymakers and economists who analyze the global 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:
- USA
- 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
+ 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
This report provides an in-depth analysis of the global crude oil market.