Crude Oil decreased 2.12 USD/BBL or 2.95% since the beginning of 2025, 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 March of 2025.

The IEA is the energy institute expecting the highest oil surplus for 2025. As demand outlooks remain modest, robust production output throughout 2024 is expected to result in some form of oil surplus, which would also impact oil prices. Woodmac was the only energy institute surveyed that did not see a surplus for the year. Production growth amid lower demand expectations The expected surplus in 2025 is largely attributed to non-OPEC production growth from major producers such as the United States and newcomers like Guyana. Overall, worldwide liquid fuels production could see a steep increase in the first half of 2025, if producers like OPEC stick to their output plans. This would come in spite of modest consumption expectations. Again, the IEA is the institute predicting the lowest growth in global oil demand when compared to other industry bodies such as the EIA and OPEC. Forecasting centers diverge in opinion on oil future Not only near-term, also long-term oil demand projections have become increasingly divergent among major energy institutions. OPEC's 2024 outlook expects global oil demand to surpass 113 million barrels per day by 2030, while the IEA's stated policies scenario anticipates demand reaching only 101.7 million barrels per day in the same year. Diesel and gasoil currently account for the largest share of oil product demand at 28.38 percent, though this is expected to decrease slightly by 2050. Jet fuel and kerosene are projected to see the greatest increase in demand shares over the coming decades.

Brent decreased 0.64 USD/BBL or 0.85% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Brent crude oil - values, historical data, forecasts and news - updated on March of 2025.

While major energy institutions IEA, OPEC, and EIA used to have little differences in their long-term growth projections for the oil market, their demand outlooks have become more divergent in recent years. In its 2024 outlook, OPEC expected global oil demand to increase to more than 113 million barrels per day by 2030. In comparison, the IEA's stated policies scenario (STEPS) from 2024 sees oil demand coming to merely 101.7 million barrels per day by 2030. A figure that was similar to the EIA's latest outlook.

The Annual Energy Outlook presents longterm annual projections of energy supply, demand, and prices focused on the U.S. through 2050, based on results from EIA's National Energy Modeling System (NEMS). NEMS enables EIA to make projections under alternative, internally-consistent sets of assumptions, the results of which are presented as cases. The analysis in AEO2014 focuses on five primary cases: a Reference case, Low and High Economic Growth cases, and Low and High Oil Price cases. Users of the EIA API are required to obtain an API Key via this registration form: http://www.eia.gov/beta/api/register.cfm

Stocks of crude oil in the United States increased by 1.75million barrels in the week ending March 14 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.

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.

Natural gas increased 0.21 USD/MMBtu or 5.84% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Natural gas - values, historical data, forecasts and news - updated on March of 2025.

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Naphtha Market Size 2025-2029

The naphtha market size is forecast to increase by USD 47.1 billion at a CAGR of 3.8% between 2024 and 2029.

The market is witnessing significant growth due to the increasing demand for naphtha In the petrochemical industry. The petrochemical sector is experiencing an increase in demand for naphtha as it is a crucial feedstock for the production of various chemicals such as polyethylene and polypropylene. Moreover, the investment In the extraction of naphtha is on the rise, which is further boosting the market growth. Naphtha's role extends to fuel applications, such as LPG, and non-fuel uses, like rubber production, oils, edible fats, personal care products, and synthetic rubber.
However, the market is also facing challenges due to stringent regulations on the usage of naphtha. Governments and regulatory bodies are imposing strict norms to reduce the environmental impact of naphtha usage. These regulations are expected to impact the market growth In the coming years. Overall, the market is poised for steady growth, driven by the increasing demand from the petrochemical industry and investment in extraction, while facing challenges due to regulatory hurdles.

What will be the Size of the Naphtha Market During the Forecast Period?

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The market is experiencing dynamic shifts In the post-pandemic period, with economies recovering and industries resuming operations. This medium-term outlook brings both opportunities and challenges for market participants. Naphtha, a versatile petrochemical feedstock, is integral to various industries, including fertilizers, additives, and polymers. Budgeting and investments In these sectors will be crucial as raw material prices continue to exhibit volatility. The shift in trends towards cheaper alternatives, such as propane, may impact naphtha's demand. In the long term, the implications of this shift could significantly alter the market landscape.
Moreover, industries relying on naphtha as a raw material or feedstock must closely monitor these trends and adapt accordingly. Factors like economic conditions, technological advancements, and regulatory changes will continue to influence the market. As the market evolves, stakeholders must remain agile and prepared for the future.

How is this Naphtha Industry segmented and which is the largest segment?

The naphtha industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Heavy naphtha
  Light naphtha


Application

  Chemicals
  Energy/fuel
  Others


Geography

  APAC

    China
    India
    Japan
    South Korea


  North America

    Canada
    US


  Europe

    Germany
    UK


  Middle East and Africa



  South America

    Brazil

By Type Insights

The heavy naphtha segment is estimated to witness significant growth during the forecast period.

Heavy naphtha, a key component of the market, has experienced significant demand due to its versatile applications. In the medium term, heavy naphtha has emerged as a crucial feedstock for petrochemical production, contributing to the manufacture of various products such as plastics, synthetic rubbers, and resins. Additionally, it plays a pivotal role In the production of gasoline and other fuel products. The increasing preference for shale gas has driven the demand for heavy naphtha as a diluent for crude oil transportation. The petrochemical sector, particularly in emerging and industrialized economies, is witnessing capacity expansions, leading to increased demand for heavy naphtha.

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The heavy naphtha segment was valued at USD 132.60 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 40% 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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Naphtha, a versatile commodity used as a feedstock in various industries, experiences increasing demand due to economic expansion and industrial growth, particularly In the Asia Pacific (APAC) region. The petrochemical sector, a major consumer of naphtha, is witnessing significant expansion in APAC, driven by the production of essential applications such as plastics, solvents, and synthetic fibers. Key industries, including coatings, power plants, steel plants, fertilizer units, paint applications, and capacity expansions, rely on naphtha as a critical input. The medium-term implications of these trends include potent

Crude Oil Production in Azerbaijan increased to 594 BBL/D/1K in November from 588 BBL/D/1K in October of 2024. This dataset provides the latest reported value for - Azerbaijan Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.