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Report World - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Jan 1, 2025

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

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Global Crude Oil Market 2025

Crude Oil Market Size

In 2022, the global crude oil market increased by 15% to $X for the first time since 2019, thus ending a two-year declining trend. The market value increased at an average annual rate of +3.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Crude Oil Production

In value terms, crude oil production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 20%. Global production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Crude Oil Exports

Exports

Global crude oil exports dropped slightly to X tons in 2022, which is down by -1.6% against the year before. The total export volume increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 20%. As a result, the exports reached the peak of X tons, and then contracted in the following year.

In value terms, crude oil exports expanded modestly to $X in 2022. Over the period under review, exports saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by 36%. Over the period under review, the global exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Canada (X tons), distantly followed by Saudi Arabia (X tons), Russia (X tons), Iraq (X tons), the United Arab Emirates (X tons) and Kuwait (X tons) were the main exporters of crude petroleum oil, together comprising 63% of total exports. The United States (X tons), Nigeria (X tons), Norway (X tons), Libya (X tons), Brazil (X tons), Kazakhstan (X tons) and Oman (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +39.8%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest crude oil supplying countries worldwide were Saudi Arabia ($X), Canada ($X) and the United States ($X), with a combined 35% share of global exports.

The United States, with a CAGR of +46.4%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average crude oil export price amounted to $X per ton, growing by 3.7% against the previous year. Overall, the export price, however, continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2018 an increase of 32%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.7%), while the other global leaders experienced a decline in the export price figures.

Crude Oil Imports

Imports

In 2022, overseas purchases of crude petroleum oil were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 9.5%. Over the period under review, global imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, crude oil imports skyrocketed to $X in 2022. Overall, imports, however, saw a mild shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 49% against the previous year. Global imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons), distantly followed by the United States (X tons), India (X tons), South Korea (X tons), Japan (X tons) and the Netherlands (X tons) represented the largest importers of crude petroleum oil, together creating 65% of total imports. The following importers - Germany (X tons), Spain (X tons), Italy (X tons), the UK (X tons), Singapore (X tons), France (X tons) and Taiwan (Chinese) (X tons) - together made up 17% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +6.5%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest crude oil importing markets worldwide were China ($X), the United States ($X) and India ($X), with a combined 48% share of global imports.

In terms of the main importing countries, China, with a CAGR of +5.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average crude oil import price stood at $X per ton in 2022, with an increase of 40% against the previous year. Over the period under review, the import price, however, continues to indicate a mild slump. The most prominent rate of growth was recorded in 2021 an increase of 51%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (-0.5%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of in 2021 were the United States, China and Russia, with a combined 45% share of global consumption. These countries were followed by India, Saudi Arabia, South Korea, Japan, Brazil, Canada, Israel, Germany, the Netherlands and Thailand, which together accounted for a further 28%.
The countries with the highest volumes of in 2021 were the United States, Russia and Saudi Arabia, together comprising 42% of global production.
In value terms, Saudi Arabia, Russia and Canada were the countries with the highest levels of exports in 2021, together comprising 33% of global exports. The United States, Iraq, the United Arab Emirates, Iran, Norway, Kuwait, Nigeria, Brazil, Kazakhstan and Angola lagged somewhat behind, together accounting for a further 44%.
In value terms, China, the United States and India were the countries with the highest levels of imports in 2021, with a combined 47% share of global imports. These countries were followed by Japan, South Korea, the Netherlands, Germany, Italy, Spain, Thailand, the UK, Singapore and Israel, which together accounted for a further 32%.
In 2021, the average crude oil export price amounted to $424 per ton, increasing by 19% against the previous year.
The average crude oil import price stood at $468 per ton in 2021, increasing by 47% against the previous year.

This report provides an in-depth analysis of the global crude oil market. 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:

    1. How to diversify your business and benefit from new market opportunities
    2. How to load your idle production capacity
    3. How to boost your sales on overseas markets
    4. How to increase your profit margins
    5. How to make your supply chain more sustainable
    6. How to reduce your production and supply chain costs
    7. How to outsource production to other countries
    8. 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. 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. 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. 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. 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. 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. 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. 7. GLOBAL PRODUCTION

      The Latest Trends and Insights into The Industry

      1. PRODUCTION VOLUME AND VALUE
      2. PRODUCTION BY COUNTRY

    8. 8. GLOBAL IMPORTS

      The Largest Importers on The Market and How They Succeed

      1. IMPORTS FROM 2012–2024
      2. IMPORTS BY COUNTRY
      3. IMPORT PRICES BY COUNTRY

    9. 9. GLOBAL EXPORTS

      The Largest Exporters on The Market and How They Succeed

      1. EXPORTS FROM 2012–2024
      2. EXPORTS BY COUNTRY
      3. EXPORT PRICES BY COUNTRY

    10. 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. 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

    12. LIST OF TABLES

      1. Key Findings In 2024
      2. Market Volume, In Physical Terms, 2012–2024
      3. Market Value, 2012–2024
      4. Per Capita Consumption, By Country, 2018–2024
      5. Production, In Physical Terms, By Country, 2012–2024
      6. Imports, In Physical Terms, By Country, 2012–2024
      7. Imports, In Value Terms, By Country, 2012–2024
      8. Import Prices, By Country Of Destination, 2012–2024
      9. Exports, In Physical Terms, By Country, 2012–2024
      10. Exports, In Value Terms, By Country, 2012–2024
      11. Export Prices, By Country Of Origin, 2012–2024

    13. LIST OF FIGURES

      1. Market Volume, In Physical Terms, 2012–2024
      2. Market Value, 2012–2024
      3. Consumption, By Country, 2024
      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, 2012–2024
      18. Production, In Value Terms, 2012–2024
      19. Production, By Country, 2024
      20. Production, In Physical Terms, By Country, 2012–2024
      21. Imports, In Physical Terms, 2012–2024
      22. Imports, In Value Terms, 2012–2024
      23. Imports, In Physical Terms, By Country, 2024
      24. Imports, In Physical Terms, By Country, 2012–2024
      25. Imports, In Value Terms, By Country, 2012–2024
      26. Import Prices, By Country, 2012–2024
      27. Exports, In Physical Terms, 2012–2024
      28. Exports, In Value Terms, 2012–2024
      29. Exports, In Physical Terms, By Country, 2024
      30. Exports, In Physical Terms, By Country, 2012–2024
      31. Exports, In Value Terms, By Country, 2012–2024
      32. Export Prices, 2012–2024

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