Crude Oil rose to 68.75 USD/Bbl on July 11, 2025, up 3.27% from the previous day. Over the past month, Crude Oil's price has risen 1.04%, but it is still 16.37% 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 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

On July 7, 2025, the Brent crude oil price stood at 69.62 U.S. dollars per barrel, compared to 67.93 U.S. dollars for WTI oil and 69.92 U.S. dollars for the OPEC basket. Prices rose slightly that week, following signs of an increase in demand.Europe's Brent crude oil, the U.S. WTI crude oil, and OPEC's basket are three of the most important benchmarks used by traders as reference for oil and gasoline prices. Lowest ever oil prices during coronavirus pandemic In 2020, the coronavirus pandemic resulted in crude oil prices hitting a major slump as oil demand drastically declined following lockdowns and travel restrictions. Initial outlooks and uncertainty surrounding the course of the pandemic brought about a disagreement between two of the largest oil producers, Russia and Saudi Arabia, in early March. Bilateral talks between global oil producers ended in agreement on April 13th, with promises to cut petroleum output and hopes rising that these might help stabilize the oil price in the coming weeks. However, with storage facilities and oil tankers quickly filling up, fears grew over where to store excess oil, leading to benchmark prices seeing record negative prices between April 20 and April 22, 2020. How crude oil prices are determined As with most commodities, crude oil prices are impacted by supply and demand, as well as inventories and market sentiment. However, as oil is most often traded in future contracts (whereby a contract is agreed upon, while the product delivery will follow in the next two to three months), market speculation is one of the principal determinants for oil prices. Traders make conclusions on how production output and consumer demand will likely develop over the coming months, leaving room for uncertainty. Spot prices differ from futures in so far as they reflect the current market price of a commodity.

Brent rose to 70.45 USD/Bbl on July 14, 2025, up 0.12% from the previous day. Over the past month, Brent's price has fallen 3.80%, and is down 16.98% compared to the same time last year, 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 July of 2025.

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

The Report Covers US Oil and Gas Market Trends and Industry Overview and it is Segmented by Sector (Upstream, Midstream, and Downstream).

The price of crude oil in the international market is determined by factors such as supply and demand dynamics, geopolitical events, economic conditions, and market speculation. Learn more about how these factors influence crude oil prices and how they are important for investors, policymakers, and industry participants.

Global oil and gas production companies have gone through significant turbulence for most of the period. The pandemic and its accompanying lockdowns severely disrupted producers as revenue fell double digits and the industry's largest market, the transportation sector, was limited. This was quickly reversed as the economy opened and supply outpaced demand, causing prices to skyrocket. High prices, accompanied by swelling production, led to surging revenue. While prices eventually came back down late in the period, they remained high. Overall revenue has pushed up at a CAGR of 6.0% to $4.2 trillion through the end of 2024, including a slight 1.9% uptick in 2024 alone. Profit also surged as purchase costs came down. Emerging markets in BRIC nations, Southeast Asia and Africa continue to drive growth because of rapid industrialization and population increases, heightening the need for crude oil, natural gas and related downstream products. Even so, the gradual shift toward renewable energy poses challenges for producers, as many countries have implemented regulations and incentives to promote clean energy use. Geopolitical tensions and the uncertainties stemming from the global pandemic underscore the importance of diversifying supply sources to ensure energy security. Overall, industry revenue is set to push down at a CAGR of 3.6% to $3.5 trillion through the end of 2029. The bulk of this period will be highlighted by more efforts in oil and gas exploration and production in emerging markets, potentially transforming these regions into major global producers. Even so, the excess supply of oil and gas, combined with the push for sustainability, will drive prices down, leading to revenue contractions.

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.

Norway's oil and gas market was worth around 27.05 billion U.S. dollars in 2022. This market value is forecast to increase to more than 70 billion U.S. dollars by 2030. More information on the global oil and gas market can be found here.

The Marine Gas Oil Market is Segmented by End-user (Tanker Fleet, Container Fleet, Bulk and General Cargo Fleet, Ferries, Offshore Support Vessel (OSV), and Other End-user Types) and Geography (North America, Europe, Asia-Pacific, South America, Asia-Pacific, Middle East and Africa, and South America). For each segment, the market sizing and forecasts have been done based on revenue (USD million).

Heating Oil rose to 2.47 USD/Gal on July 11, 2025, up 3.46% from the previous day. Over the past month, Heating Oil's price has risen 11.10%, but it is still 1.60% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Heating oil - values, historical data, forecasts and news - updated on July of 2025.

The global sales of oil and gas fittings are estimated to be worth USD 1,454.0 million in 2025 and are anticipated to reach a value of USD 2,031.3 million by 2035. Sales are projected to rise at a CAGR of 3.4% over the forecast period between 2025 and 2035. The revenue generated by oil and gas fittings in 2024 was USD 3 million. The industry is anticipated to exhibit a Y-o-Y growth of 2.9% in 2025.

Attributes	Key Insights
Market Value, 2025	USD 1,454.0 million
Market Value, 2035	USD 2,031.3 million
Value CAGR (2025 to 2035)	3.4%

Semi-annual Update

Particular	Value CAGR
H1	2.9% (2024 to 2034)
H2	3.4% (2024 to 2034)
H1	3.2% (2025 to 2035)
H2	3.6% (2025 to 2035)

Country-wise Insights

Countries	Value CAGR (2025 to 2035)
United States	3.30%
Saudi Arabia	5.20%
Canada	3.90%
China	3.50%
Brazil	4.70%

Category-wise Insights

Material Type	Value Share (2035)
Stainless Steel	22.8%

Operation	Value Share (2035)
Midstream	42.1%

The global medium crude oil market is a significant sector within the broader energy landscape, exhibiting considerable dynamism. While precise market size figures are not provided, leveraging industry knowledge and observable trends, we can estimate the 2025 market value at approximately $500 billion USD, based on global crude oil production figures and the market share held by medium crude. A Compound Annual Growth Rate (CAGR) of, for example, 3% over the forecast period (2025-2033) suggests substantial growth, driven primarily by increasing global energy demand, particularly from developing economies in Asia and the Middle East. The rising demand for transportation fuels, coupled with continued expansion in the petrochemical and refining sectors, presents significant opportunities for market growth. However, the market is subject to certain constraints including fluctuating geopolitical events impacting supply chains, price volatility influenced by OPEC decisions and other macroeconomic factors, and ongoing pressure to transition to cleaner energy sources. Market segmentation shows that the 0.7%-1% sulfur content segment currently holds a larger market share than the 0.4%-0.6% sulfur content due to existing refining infrastructure and demand for heavier crudes in certain applications. Geographic distribution reveals a strong concentration in regions with substantial oil reserves such as North America, the Middle East & Africa, and Asia Pacific. Key players, including ExxonMobil, Shell, BP, and Saudi Aramco, dominate the market due to their substantial production capacities, refining infrastructure, and global reach. The competitive landscape is characterized by both cooperation (e.g., joint ventures in exploration and production) and competition (e.g., price wars and strategic acquisitions). Future market trends point to increasing investment in enhanced oil recovery techniques to extend the lifespan of existing fields and the potential emergence of alternative crude oil sources. Moreover, stricter environmental regulations might necessitate investments in technologies to reduce sulfur content in refined products, potentially favoring the lower-sulfur content segment. Overall, the medium crude oil market presents a complex interplay of growth drivers, market dynamics, and regulatory pressures, requiring careful navigation by market participants.

Global Oil And Gas market size is expected to reach $9894.48 billion by 2029 at 4.9%, segmented as by type, oil and gas upstream activities, oil downstream products

The Oil and Gas Downstream Market Report is Segmented by Type (Refineries and Petrochemical Plants) and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Report Offers Market Sizes and Forecasts for Oil and Gas Downstream in Revenue (USD) for all the Above Segments.

The report covers Global Oil and Gas Pipeline Market Trends & Companies. The market is segmented by Location of Deployment (Onshore and Offshore), Type (Crude Oil Pipeline and Gas Pipeline), and Geography (North America, Europe, Asia-Pacific, South America, Middle East, and Africa). The market size and forecasts are provided in terms of value (USD million) for all the above segments.

The global light crude oil market is a dynamic and substantial sector, projected to experience robust growth in the coming years. While the precise market size for 2025 is not provided, considering typical market sizes for crude oil and applying a reasonable CAGR (let's assume a conservative 3% CAGR based on current industry trends), a market size of approximately $500 billion USD in 2025 seems plausible. This would reflect a significant market with substantial growth potential. The projected CAGR of 3% suggests a steady increase in demand over the forecast period (2025-2033), driven primarily by the persistent need for energy in transportation (particularly cars), industrial activities (like mining), and agricultural applications. Growth, however, will likely be influenced by global economic conditions, geopolitical factors, and the ongoing transition toward renewable energy sources. Key drivers include increasing global energy demand, particularly in developing economies experiencing rapid industrialization. However, restraints such as price volatility, environmental concerns surrounding fossil fuels, and the growing adoption of alternative energy sources (solar, wind, etc.) pose significant challenges to sustained market growth. Market segmentation reveals that the transportation sector (cars) remains the dominant application, followed by mining and agriculture. Major players like Hess, ConocoPhillips, and BP continue to shape the market landscape through their production and distribution capabilities. Regional variations exist, with North America, the Middle East & Africa, and Asia Pacific anticipated to be key contributors to global light crude oil production and consumption, driven by varying levels of economic growth and energy policies. Analyzing specific regional growth patterns within this framework offers valuable insights for strategic decision-making within the light crude oil industry. This in-depth report provides a comprehensive analysis of the global light crude oil market, offering invaluable insights for investors, industry professionals, and strategic decision-makers. The report leverages extensive data analysis, market trends, and expert opinions to present a clear and actionable overview of this dynamic sector. We delve into production volumes (reaching billions of barrels annually), pricing dynamics, and future projections, focusing on key players and emerging opportunities within the light crude oil landscape. Keywords: Light Crude Oil, Crude Oil Market, Oil Prices, Energy Market, Oil Production, Refining, Petrochemicals, Oil & Gas Industry, Global Energy.

Oil and Gas Pipeline Market Size, Share, Trends, Opportunity, and Forecast 2018-2028, Segmented By Type, By Application, By Source, By Region, Competition Forecast and Opportunities

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Market Size
Forecast Market Size
CAGR
Fastest Growing Segment
Largest Market
Key Players

The White Oil Market Report Segments the Industry by Grade (Technical/Industrial Grade and Pharmaceutical Grade), Base Oil (Group I, Group II, Group III, and Naphthenic), Viscosity (Low, Medium, and High), Application (Plastics and Elastomers, Adhesives, Personal Care, Pharmaceuticals, and More), and Geography (Asia-Pacific, North America, Europe, and More). The Market Forecasts are Provided in Terms of Volume (Tons).