The 2025 annual OPEC oil price stood at 78.1 U.S. dollars per barrel, as of February. This would be lower than the 2024 average, which amounted to 79.86 U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2024 fall in prices was the result of weakened demand outlooks, primarily from China.

Palm Oil decreased 155 MYR/MT or 3.49% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Palm Oil - values, historical data, forecasts and news - updated on March of 2025.

The US soybean farming industry is navigating significant changes in the current period, with soybean prices determining the initial rise and recent decline in industry performance. These prices have been influenced by several key factors, including the growing demand for biofuels and mixed consumer perceptions regarding soy products. The demand for soybean oil in biofuel production surged due to supportive policies like the Renewable Fuel Standard and rising crude oil prices, creating a lucrative market for soybean producers. However, subsequent drops in fertilizer and crude oil prices, paired with record-high soybean production, have sharply dropped soybean prices, bringing revenue and profit down with them as farmers struggle to balance costs with lower incomes. Industry has shrunk a compound annual growth rate (CAGR) of 2.6%, with a decrease of 8.7% in 2025, reaching an estimated $44.2 billion. US soybean exports are facing mounting challenges due to competitive pressures abroad and quickly evolving trade policy. Brazil’s increased production and improved export infrastructure have strengthened its position as a major supplier, particularly to China, which is reducing its reliance on US soybeans. This shift threatens US exports and compels American farmers to reassess their strategies, focusing on market diversification and emphasizing quality and sustainability to remain competitive. Rising geopolitical tensions and newly imposed tariffs, such as those affecting key markets like the EU, Canada and China, have further complicated trade, impacting US farmers' access and pricing power in these vital markets. Through the end of 2025, soybean prices are initially projected to decline due to increased production and growing global supplies. However, as climate change impacts crop yields through extreme weather and pest challenges and supplies become limited prices will be pushed upward alongside rising global demand. Subsidies will continue to play a vital role in supporting farmer incomes amids these fluctuations, providing some stability to an otherwise highly volatile industry. However, the industry faces significant uncertainty due to the ongoing USDA funding freeze is creating significant uncertainty, particularly where government support and subsidies are concerned. This freeze is affecting a wide range of agricultural programs including conservation efforts, market development, research and technical assistance. Over the next five years, the industry is expected to grow at a CAGR of 1.3%, with revenues reaching $47.1 billion by the end of 2030.

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Offshore Oil And Gas Pipeline Market Size 2024-2028

The offshore oil and gas pipeline market size is forecast to increase by USD 4.17 billion at a CAGR of 5.58% between 2023 and 2028. Offshore pipelines are increasingly favored by oil and gas companies due to their economic benefits, including reduced transportation costs and lower environmental impact compared to alternative modes. The growth in exploration and production (E&P) activities, driven by new reserve discoveries and the imperative to replace dwindling production from existing fields, is amplifying the demand for offshore pipelines to transport extracted oil and gas.

Furthermore, the escalating global energy demand is stimulating investments in infrastructure to facilitate oil and gas transportation, thereby bolstering market expansion. As companies seek more cost-effective and environmentally friendly transportation solutions, offshore pipelines emerge as a preferred choice, poised to play a pivotal role in meeting the escalating demands of the energy sector while minimizing environmental footprint and optimizing operational efficiency.

Market Analaysis

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The market encompasses the design, construction, and operation of pipelines transporting hydrocarbons, including natural gas and petroleum, from offshore sources such as the Mediterranean Sea's Nargis Offshore Area and the Gulf of Mexico to the final destination. Key players in this sector play a strategic role in facilitating hydrocarbon imports from shale gas resources and enabling the expansion of urbanization and the automotive sector. The pipeline network, consisting of Wide Area Networks and Local Area Networks (LANs), includes sensor and control connections to ensure efficient operation. The power generation sector and industries like plastics are significant consumers of refined goods transported via these pipelines. Companies in Houston are investing in offshore pipeline projects to meet the growing energy demand.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Sector

  Up stream
  Mid stream
  Down stream


Product

  Oil
  Gas


Geography

  Europe

    Norway


  Middle East and Africa



  APAC

    China


  South America



  North America

By Sector Insights

The up stream segment is estimated to witness significant growth during the forecast period. In the offshore oil and gas industry, pipeline networks play a crucial role in transporting petroleum products from new gas fields to various end-users, including green energy producers and the power generation sector. These pipelines facilitate the transportation of crude oil and natural gas from offshore platforms to refineries, enhancing refinery capacity and supporting the petrochemical industry. Pipeline infrastructure is essential for the export of oil and gas, connecting producing regions such as the Gulf of Mexico and the Mediterranean Sea to major consumer markets in Europe and North America. However, pipeline networks face numerous challenges, including cybercrimes, threats from military adversaries, oil smugglers, armed rebels, and political unrest.

Also, pipeline integrity services are vital for maintaining pipeline infrastructure and ensuring the safe and efficient transportation of petroleum products. Companies employ advanced technologies to detect and address potential issues. The gas segment is a significant contributor to the offshore pipelines market, with major projects underway in the Gulf of Mexico, the Mediterranean Sea, and other regions. Key players in the offshore pipelines market, focusing on the development of new transportation lines and export lines to meet growing energy needs. The offshore pipelines market is expected to expand as new gas fields are discovered and existing infrastructure is upgraded to meet the demands of various industries.

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The up stream segment was valued at USD 5.38 billion in 2018 and showed a gradual increase during the forecast period.

Regional Insights

Europe is estimated to contribute 50% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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Green energy producers are increasingly focusing on the power generation sector, transitioning away from petroleum reliance. However, the market in Europe remains significant, driven by numerous projects in the North Sea. The investment underscores the continued importance of upstream players in the region, offering reve

Prices for polyester staple fiber (PSF) in China were significantly lower compared to India and Pakistan in recent years. PSF prices were comparatively high during the early part of 2022 due to rising crude oil prices and strong demand for polyester products, exacerbated by the Russia-Ukraine conflict. However, by the second half of the year, strict COVID-19 lockdowns, lower global demand, and easing oil prices caused a significant decline in PSF prices. In 2023, PSF prices fell significantly throughout the year as demand remained weak both domestically and globally. Despite China reopening after its COVID restrictions, global recession concerns and reduced textile exports to the U.S. and Europe kept PSF prices low. In 2024, PSF prices have shown signs of recovery, supported by improving domestic demand and better-than-expected international market performance. Stable crude oil prices and a recovering global economy are likely to keep prices on a stable upward trajectory.

Indonesia is the world’s largest exporter of palm oil. In 2024, its total palm oil exports amounted to 24.2 million metric tons, indicating a decrease from the previous year. Palm oil exports The bulk of Indonesia’s palm oil was made up of crude palm oil and refined palm oil, with crude palm oil (CPO) exports reaching around 25 million metric tons in 2022. In that year, the export value of this commodity was about 27.7 billion U.S. dollars. Main export markets The main export market for Indonesian CPO was India, which made up more than 80 percent of the total CPO exports in 2022. India was in turn the world’s largest importer of palm oil in that year. In 2019, India introduced higher import duties on palm oil, leading to a decline in demand from this market. However, Indonesian palm oil exports were buffeted by increased demand from China, which sought alternative vegetable oil supplies due to restrictions caused by the trade war with the U.S.

The statistic shows the gross domestic product (GDP) per capita in India from 1987 to 2029. In 2020, the estimated gross domestic product per capita in India amounted to about 1,915.55 U.S. dollars. See figures on India's economic growth here. For comparison, per capita GDP in China had reached about 6,995.25 U.S. dollars in 2013.

India's economic progress

India’s progress as a country over the past decade can be attributed to a global dependency on cheaper production of goods and services from developed countries around the world. India’s economy is built upon its agriculture, manufacturing and services sector, which, along with its drastic rise in population and demand for employment, led to a significant increase of the nation’s GDP per capita. Despite experiencing rather momentous economic gains since the mid 2000s, the Indian economy stagnated around 2012, with a decrease in general growth as well as the value of its currency. Residents and consumers in India have recently shown pessimism regarding the future of the Indian economy as well as their own financial situation, and with the recent economic standstill, consumer confidence in the country could potentially lower in the near future.

Typical Indian exports consist of agricultural products, jewelry, chemicals and ores. Imports consist primarily of crude oil, gold and precious stones, used primarily in the manufacturing of jewelry. As a result, India has seen a rather highly increased demand of several gems in order to boost their jewelry industry and in general their exports. Although India does not export an extensive amount of goods, especially when considering the stature of the country, India has remained as one of the world’s largest exporters.