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Crude Oil fell to 64.78 USD/Bbl on July 1, 2025, down 0.50% from the previous day. Over the past month, Crude Oil's price has risen 3.62%, but it is still 21.77% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on July of 2025.
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The global crude oil market size reached approximately 100.50 MB/d in 2024. The market is projected to grow at a CAGR of 0.90% between 2025 and 2034, reaching around 109.92 MB/d by 2034.
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According to Cognitive Market Research, the global Crude Oil Desalter market size will be USD 2514.6 million in 2025. It will expand at a compound annual growth rate (CAGR) of 5.00% from 2025 to 2033.
North America held the major market share for more than 40% of the global revenue with a market size of USD 1005.84 million in 2025 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2025 to 2033.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 754.38 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 578.36 million in 2025 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2025 to 2033.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 125.73 million in 2025 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2025 to 2033.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 50.29 million in 2025 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2025 to 2033.
The Electrostatic Dehydrator segment category led the Crude Oil Desalter Market.
Market Dynamics of Crude Oil Desalter Market
Key Drivers for Crude Oil Desalter Market
Increasing global crude oil production and consumption
The global demand for crude oil continues to rise, driven by industrial growth, transportation needs, and energy consumption across multiple sectors. As economies recover and develop, particularly in emerging markets, oil consumption increases, leading to higher crude oil production levels. Additionally, geopolitical factors and technological advancements in extraction processes, such as hydraulic fracturing and deepwater drilling, are boosting production. The surge in demand for refined products, including petrochemicals, fuels, and lubricants, further accelerates the need for efficient desalting processes to improve crude oil quality and ensure smooth refining operations. For instance, In July 2022, Gemcorp signed a contract with state-owned Sonangol to build the 60,000 b/d capacity refinery. Phase 1 is expected to include a 30,000 b/d CDU with a crude oil desalter, kerosene treatment, and ancillary infrastructures including pipelines, a conventional buoy mooring system, and storage facility for over 1.2 million barrels.
Expansion of oil refineries in emerging economies
Emerging economies, especially in Asia, Africa, and the Middle East, are expanding their oil refinery infrastructure to meet the growing demand for refined petroleum products. The rise in population, urbanization, and industrial activities in these regions is contributing to an increase in energy consumption, driving the need for more sophisticated refining capacities. This expansion leads to a growing focus on improving the efficiency of refining processes, including crude oil desalting, to ensure higher quality output while meeting stringent environmental standards. Investment in new refineries and the modernization of existing facilities further boosts the adoption of advanced desalting technologies.
Restraint Factor for the Crude Oil Desalter Market
High cost of advanced veterinary ventilators limiting adoption in smaller clinics
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Market Trends in Crude Oil Desalter Market
Increasing adoption of multi-stage desalting processes for improved efficiency
The oil industry is increasingly adopting multi-stage desalting processes to enhance the efficiency of crude oil treatment. Multi-stage desalting systems, such as two-stage and three-stage processes, allow for better removal of impurities like salts, water, and solid particles from crude oil. This results in improved...
The crude oil market has the potential to grow by 4781.60 million barrels during 2021-2025, and the market’s growth momentum will decelerate at a CAGR of 2.73%.
This crude oil market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by production area (onshore and offshore) and geography (APAC, North America, Europe, MEA, and South America). The report also offers information on several market vendors, including BP Plc, Chevron Corp., and ConocoPhillips Co., among others.
What will the Crude Oil Market Size be in 2021?
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Crude Oil Market: Key Drivers and Trends
Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing upstream investment is notably driving the crude oil market growth, although factors such as fluctuations in global crude oil prices may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the crude oil industry get your FREE report sample now.
The rising energy demand across the world has prompted governments to explore untapped oil and gas resources in the upstream sector, using advanced technologies.
The production of oil and natural gas is declining from many conventional oilfields. To overcome this issue, oil and gas operators are increasing investments in mature oil and gas fields.
The adoption of unconventional exploration and production technologies in large shale deposits has widened opportunities for upstream oil and gas companies.
The growing investments in the upstream oil and gas sector will significantly influence crude oil market growth over the forecast period.
Technological development in the hydraulic fracturing process is aiding in the exploration and production of oil and gas from shale plays.
The advances in the drilling technology and proppant placement in downhole wells increased hydrocarbon recovery from unconventional wells.
Technological advances such as integration of the internet of things (IoT) for data acquisition, as well as the use of data analytics and machine learning, supports the efficiency of tools that is one of the key crude oil market trends.
Real-time pressure data is crucial in crude oil production as it eliminates the over-fracturing issue.
Automation of hydraulic fracturing optimizes the hydraulic fracturing method using algorithmic controls and supports enhanced well performance.
This crude oil market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.
Who are the Major Crude Oil Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
BP Plc
Chevron Corp.
ConocoPhillips Co.
Exxon Mobil Corp.
PetroChina Co. Ltd.
Petroleo Brasileiro SA
Qatar Petroleum
Rosneft Oil Co.
Royal Dutch Shell Plc
Saudi Arabian Oil Co.
The crude oil market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Download a free sample of the crude oil market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Which are the Key Regions for Crude Oil Market?
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44% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for crude oil in APAC. Market growth in this region will be faster than the growth of the market in Europe, North America, and South America.
To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.
What are the Revenue-generating Production Area Segments in the Crude Oil Market?
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The crude oil market share growth by the onshore segment will be significant during the forecast period. In onshore exploration and pr
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As of 2023, the global crude oil market size was valued at approximately USD 1.3 trillion, and it is expected to reach USD 1.7 trillion by 2032, growing at a compound annual growth rate (CAGR) of 3.0% during the forecast period. The growth of this market is fueled by increasing demand in various industrial applications, coupled with advancements in extraction technologies that have made previously unrecoverable reserves accessible. Furthermore, the ongoing industrialization in emerging economies and the rising global energy demand are significant factors contributing to the market expansion. These factors are expected to consistently drive the crude oil market over the coming decade, despite growing environmental concerns and the push for renewable energy sources.
The primary growth factor for the crude oil market is the expanding global transportation sector, which remains heavily reliant on fossil fuels. As both personal and commercial transportation increases, so does the demand for crude oil, as it is the primary raw material for the production of fuels like gasoline, diesel, and aviation fuel. This is particularly evident in regions with burgeoning automotive markets and aviation sectors, where there is a continuous need to meet the energy requirements. Moreover, the development of infrastructure in developing countries is further bolstering the consumption of crude oil, especially in sectors such as road and air transport, which are pivotal to economic progress.
Another significant factor contributing to the growth of the crude oil market is its broad application base across various industrial sectors. Crude oil is not only a vital energy source but also a critical input for numerous petrochemical products, which are integral to industries such as plastics, pharmaceuticals, and chemicals. The industrial demand for crude oil is expected to remain robust as these sectors continue to expand, driven by technological innovations and a growing global population. Additionally, the power generation sector still relies on crude oil, albeit to a lesser extent, maintaining a steady demand alongside the increasing share of renewable energy sources.
Technological advancements in extraction techniques like hydraulic fracturing and horizontal drilling have unlocked new reserves, contributing significantly to supply-side growth. These technologies have made it economically viable to extract oil from unconventional sources such as shale formations and deep-sea reserves. This has not only increased the global supply of crude oil but also enhanced the competitiveness of oil-producing countries, particularly the United States, which has emerged as a major player in the global market. As technology continues to evolve, it is expected to further streamline production processes, reduce costs, and open up new areas for exploration.
Regionally, the Asia Pacific region is projected to witness the highest growth in the crude oil market, driven by rapid industrialization and urbanization in countries like China and India. The region's demand for energy is skyrocketing, fueled by economic development and an increasing population. North America remains significant due to advancements in extraction technologies and substantial shale reserves. Meanwhile, the Middle East and Africa continue to hold strategic importance due to their vast conventional oil reserves. Europe and Latin America, while also important markets, are expected to grow at a more moderate pace as they balance energy needs with sustainability initiatives.
The crude oil market is segmented by type into light, medium, and heavy crude oil. Light crude oil is highly sought after due to its high yield of valuable products such as gasoline and diesel upon refining. It is generally preferred by refineries because of its lower sulfur content and ease of processing, resulting in lower overall production costs. The demand for light crude oil is expected to remain strong as refineries continue to upgrade and optimize their processes to produce cleaner fuels. Moreover, the development of new refining technologies may further enhance the processing efficiency of light crude, sustaining its demand in the market.
Medium crude oil, characterized by its balanced sulfur content and density, serves as a versatile feedstock for refineries across the globe. Although not as easily processed as light crude, medium crude oil provides a good yield of both light and heavy petroleum products. Its market demand is also driven by the flexibility it offers refineries in terms of product output. In regions wit
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API Crude Oil Stock Change in the United States increased to -4.28 BBL/1Million in June 20 from -10.13 BBL/1Million in the previous week. This dataset provides - United States API Crude Oil Stock Change- actual values, historical data, forecast, chart, statistics, economic calendar and news.
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Stocks of crude oil in the United States decreased by 5.84million barrels in the week ending June 20 of 2025. This dataset provides the latest reported value for - United States Crude Oil Stocks Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
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Global Crude Oil market size is expected to reach $3795.54 billion by 2029 at 4.3%, segmented as by type, transport, industrial, other types
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U.S. crude oil inventories increased significantly, while gasoline and distillate stocks fell, according to the latest EIA report. Learn about the market impacts.
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Global Crude Oil market size 2025 is $3415.7 Billion whereas according out published study it will reach to $4722.66 Billion by 2033. Crude Oil market will be growing at a CAGR of 4.133% during 2025 to 2033.
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Learn about crude oil inventory and its impact on oil prices. The U.S. Energy Information Administration (EIA) is responsible for monitoring and reporting crude oil inventory data in the United States. Find out how this data is collected and its significance in understanding supply and demand dynamics in the oil market. Discover how the EIA's weekly and monthly reports influence oil markets and help market participants make informed decisions.
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The United States crude oil refinery market is estimated to grow at a CAGR of 2.40% during the forecast period of 2025-2034. The market is being driven by the rising demand for petroleum in the country.
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The US Oil Inventory Report, also known as the Weekly Petroleum Status Report, provides crucial information on the current level of crude oil and petroleum product inventories in the United States. Traders, investors, and analysts closely monitor this report to gain insights into supply and demand trends in the oil market.
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WS: PADD 5: Total Stocks data was reported at 46,835.000 Barrel th in 16 Feb 2024. This records a decrease from the previous number of 46,865.000 Barrel th for 09 Feb 2024. WS: PADD 5: Total Stocks data is updated weekly, averaging 48,672.000 Barrel th from Jan 2020 (Median) to 16 Feb 2024, with 214 observations. The data reached an all-time high of 58,228.000 Barrel th in 08 May 2020 and a record low of 44,258.000 Barrel th in 13 Oct 2023. WS: PADD 5: Total Stocks data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under Global Database’s United States – Table US.RB052: Petroleum Supply: Weekly Crude Oil Storage Capacity (Discontinued). Released once a week (every Wednesday) with data for the previous week (Monday to Friday). If Wednesday falls on a holiday, the data will be released on the next business day.
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The global reserve crude oil market is being supported by the rising demand for fuel oil, which stood at a volume of nearly 106279.67 KB/d in 2024. The demand for fuel oil is further expected to grow at a CAGR of 2.00% over the forecast period of 2025-2034 to attain a volume of 129554.32 KB/d by 2034.
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WS: PADD 3: Total Stocks data was reported at 250,264.000 Barrel th in 16 Feb 2024. This records an increase from the previous number of 248,349.000 Barrel th for 09 Feb 2024. WS: PADD 3: Total Stocks data is updated weekly, averaging 247,134.000 Barrel th from Jan 2020 (Median) to 16 Feb 2024, with 214 observations. The data reached an all-time high of 309,016.000 Barrel th in 03 Jul 2020 and a record low of 219,249.000 Barrel th in 17 Jan 2020. WS: PADD 3: Total Stocks data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under Global Database’s United States – Table US.RB052: Petroleum Supply: Weekly Crude Oil Storage Capacity (Discontinued). Released once a week (every Wednesday) with data for the previous week (Monday to Friday). If Wednesday falls on a holiday, the data will be released on the next business day.
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The global intermediate crude oil market size was valued at USD XX million in 2025 and is projected to reach USD XX million by 2033, exhibiting a CAGR of XX% during the forecast period. The market growth is primarily driven by rising demand for oil-based products. The growing population and rapid industrialization in emerging economies have fueled the consumption of intermediate crude oil in the petroleum refining, chemical industry, energy production, transportation, and other end-use industries. Additionally, increasing government initiatives to promote renewable energy sources and reduce carbon emissions have led to a shift towards cleaner and environmentally friendly fuel options, further propelling the demand for intermediate crude oil. The intermediate crude oil market is segmented into types such as intermediate high sulfur crude oil and intermediate low sulfur crude oil. The intermediate high sulfur crude oil segment held the largest market share in 2025, owing to its high energy content and cost-effectiveness compared to low sulfur crude oil. However, the intermediate low sulfur crude oil segment is expected to witness a higher growth rate during the forecast period due to increasing demand for cleaner energy sources. The market is also segmented by application into petroleum refining, chemical industry, energy production, transportation, and others. The petroleum refining segment accounted for the largest share of the market in 2025, as crude oil is primarily used as a raw material in the production of refined petroleum products such as gasoline, diesel, and jet fuel.
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With a market size of XXX million and a CAGR of XX%, Medium Crude Oil is estimated to be worth XX million by 2033. Key drivers of this growth include its use in various applications such as oil refining, transportation fuels, and petrochemical industries. Trends such as increasing demand for transportation fuels and the rising adoption of renewable energy sources are expected to further drive market growth. However, factors like geopolitical tensions and economic instability may pose challenges. Regionally, North America and Asia Pacific are projected to be major markets for Medium Crude Oil. North America is driven by the presence of vast oil reserves and refining capacities, while Asia Pacific is fuelled by growing economies and increasing energy consumption. Key companies operating in this market include ExxonMobil, Royal Dutch Shell, BP, and Chevron Corporation. The report provides a comprehensive analysis of market dynamics, enabling stakeholders to understand current trends and make informed decisions for the future.
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The global crude oil assay testing market size was valued at approximately USD 1.3 billion in 2023 and is projected to reach around USD 2.1 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.2% during the forecast period. The market's growth is driven by an increasing demand for accurate and reliable crude oil quality data, which is critical for optimizing refining processes and ensuring compliance with stringent environmental regulations.
One of the primary growth factors for the crude oil assay testing market is the rising complexity of crude oil sources. As traditional, easily accessible sources of crude oil deplete, the industry is increasingly turning to unconventional sources like shale oil and oil sands. These sources often have variable and challenging compositions, necessitating thorough and precise assay testing to ensure that refineries can process them efficiently and safely. This need for detailed characterization is propelling the demand for advanced assay testing services and technologies.
Another significant driver is the stringent regulatory landscape governing the oil and gas industry. Governments and environmental agencies worldwide enforce strict standards for emissions, pollutants, and waste management in the oil and gas sector. To comply with these regulations, companies must continuously monitor the quality of the crude they process, which, in turn, fuels the demand for comprehensive assay testing. The trend towards more rigorous environmental standards is expected to persist, further catalyzing market growth.
The rapid advancement in assay testing technologies is also a crucial factor contributing to market expansion. Innovations such as automated testing equipment, advanced spectroscopy techniques, and sophisticated data analytics tools are enhancing the accuracy, speed, and efficiency of crude oil assays. These technological advancements not only improve the quality of the data obtained but also reduce the time and costs associated with testing. As a result, more refineries and petrochemical companies are investing in state-of-the-art assay testing solutions to stay competitive.
In the context of the evolving oil and gas industry, Oil and Gas Certification and Advisory Services have become increasingly vital. These services ensure that companies adhere to industry standards and regulatory requirements, which are essential for maintaining operational integrity and environmental compliance. As the industry faces complex challenges such as fluctuating market dynamics and stringent environmental regulations, certification and advisory services provide crucial guidance and support. They help organizations navigate the regulatory landscape, optimize their operations, and implement best practices for sustainable growth. By leveraging these services, companies can enhance their credibility and competitiveness in the global market, ensuring that their operations are not only efficient but also environmentally responsible.
From a regional perspective, North America and the Middle East are expected to be the largest markets for crude oil assay testing due to their substantial refinery capacities and extensive oil extraction activities. The Asia Pacific region is also anticipated to exhibit significant growth, driven by increasing refining activities in countries like China and India. Europe's market, although smaller in comparison, will grow steadily due to ongoing regulatory pressures and technological advancements in assay testing.
Distillation testing is one of the fundamental types of crude oil assay services. This method helps in determining the boiling range distribution of crude oil, which is critical for optimizing the refining process. Distillation testing identifies the fractions of crude oil that can be converted into different products such as gasoline, diesel, and jet fuel. As refineries aim to maximize yield and efficiency, the demand for precise distillation testing is increasing. Modern distillation testing techniques are incorporating advanced automation and digital tools, enhancing accuracy and throughput, which is expected to drive growth in this segment.
The Total Acid Number (TAN) testing segment addresses the need to measure the acidity of crude oil. High acidity in crude oil can lead to corrosion in refining equipment, resulting in significant ma
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The global light crude oil market is experiencing robust growth, driven by increasing global energy demand and the continued reliance on petroleum-based products across various sectors. While precise figures for market size and CAGR are not provided, we can extrapolate reasonable estimations based on industry trends. Considering the significant role light crude oil plays in the energy mix, and factoring in projected growth in transportation, industrial production, and agricultural activities, a conservative estimate would place the 2025 market size at approximately $500 billion USD. Assuming a moderate, yet sustainable, CAGR of 3% over the forecast period (2025-2033), the market is poised to surpass $700 billion USD by 2033. Key drivers include expanding economies, particularly in developing nations, which are experiencing rapid industrialization and urbanization, fueling energy consumption. The increasing adoption of light crude oil in diverse applications, like transportation (cars, trucks, and airplanes), mining operations (heavy machinery), and agriculture (fertilizers and pesticides), also contributes significantly to market growth. However, growing environmental concerns regarding carbon emissions and increasing government regulations aimed at promoting renewable energy sources represent key restraints. The market segmentation reveals the significance of the "Very Light Oils" type within the broader light crude oil sector, and the automotive industry as a dominant application segment. The competitive landscape includes both major international oil companies like Hess, ConocoPhillips, and BP, alongside national and regional players. Geographical distribution showcases North America as a key region, owing to its substantial oil reserves and production capacity. However, the Asia-Pacific region, particularly China and India, is expected to exhibit the highest growth rates due to burgeoning energy demand fueled by economic expansion and population growth. Europe, while mature in terms of oil consumption, continues to play a significant role, influenced by its established industrial base and transportation networks. Strategic alliances, technological advancements in extraction and refining, and the ongoing shift towards more sustainable energy practices will shape the market's evolution in the coming years, creating both opportunities and challenges for market participants. Fluctuations in global oil prices will remain a key factor impacting overall market performance. This in-depth report provides a comprehensive overview of the global light crude oil market, analyzing its current state, future trends, and key players. We delve into production, consumption patterns, pricing dynamics, and the impact of geopolitical factors. This report is essential for businesses involved in oil exploration, refining, transportation, and distribution, as well as investors seeking insights into this critical energy sector.
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Crude Oil fell to 64.78 USD/Bbl on July 1, 2025, down 0.50% from the previous day. Over the past month, Crude Oil's price has risen 3.62%, but it is still 21.77% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on July of 2025.