The crude oil market is a global market where various countries and companies compete for the largest share of oil production and consumption. Find out more about the market share of crude oil, including production and consumption perspectives, major players, and the factors influencing market share.

The Engine Oil Market Report is Segmented by End-User Industry (power Generation, Automotive and Other Transportation, Heavy Equipment, Metallurgy and Metalworking, Chemical Manufacturing, And Other End-User Industries) and Geography (Asia-Pacific, North America, Europe, South America, And Middle East and Africa). The Report Offers Market Size and Forecasts for Engine Oil in Volume (liters) for all the Segments.

The Iraq Oil and Gas Market Report is Segmented by Sector (Upstream, Midstream, and Downstream), Location (Onshore and Offshore), and Service (Construction, Maintenance and Turn-Around, and Decommissioning). The Market Sizes and Forecasts are Provided in Terms of Value (USD).

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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 production operations

In 2024, South Korean oil refiner GS Caltex's market share of light crude oil in South Korea lay at around **** percent. Their share of the domestic light crude oil market has slowly decreased since 2015. Nevertheless, GS Caltex was the second largest oil refiner in South Korea.

In financial year 2025, the market share of the edible oils product segment of Adani Wilmar was **** percent. This was a decrease as compared to the edible oils market share in the financial year 2024. Adani Wilmar is an Indian FMCG company, a joint venture of Adani Group and Wilmar International, and is headquartered in Ahmedabad.

In 2022, South Korean oil refiner SK energy's market share of light crude oil in South Korea amounted to **** percent. This represents a slight decrease from the previous year, and continues a trend of decline. SK energy is the largest oil refiner in South Korea and is one of the SK Innovation's subsidiaries.

The worldwide fish oil market is organized into three broad industry sectors: Multinational Producers (50%), Regional Players (35%), and Specialty/Niche Manufacturers (15%). Global leading multinational players like Omega Protein Corporation, DSM Nutritional Products, BASF SE, and Cargill, Inc. are market leaders with their cutting-edge refining capabilities, large volumes of production, and worldwide distribution networks.

Market Share by Key Players

Market Structure	Top Multinational Producers
Industry Share (%)	50%
Key Companies	Omega Protein Corporation, DSM Nutritional Products, BASF SE, Cargill, Inc., Maruha Nichiro Corporation

Market Structure	Regional and Mid-Sized Players
Industry Share (%)	35%
Key Companies	GC Rieber Oils, Kewpie Corporation, Fish Oil Company (FOC), Nutraceutical Corporation

Market Structure	Specialty & Niche Manufacturers
Industry Share (%)	10%
Key Companies	Nordic Naturals, premium fish oil suppliers for pharmaceutical, nutraceutical, and cosmetic applications

Market Structure	Private Labels & Small-Scale Producers
Industry Share (%)	5%
Key Companies	Independent fish oil suppliers, small fisheries focusing on local markets and specialty health products

Tier-Wise Company Classification 2025

By Tier Type	Tier 1
Market Share (%)	50%
Example of Key Players	Omega Protein Corporation, DSM Nutritional Products, BASF SE, Cargill, Inc., Maruha Nichiro Corporation

By Tier Type	Tier 2
Market Share (%)	35%
Example of Key Players	GC Rieber Oils, Kewpie Corporation, Fish Oil Company (FOC), Nutraceutical Corporation

By Tier Type	Tier 3
Market Share (%)	15%
Example of Key Players	Nordic Naturals, premium fish oil suppliers for pharmaceutical, nutraceutical, and cosmetic applications

As the black seed oil market is expected to flourish with a projected market size of USD 23.7 million in 2025, it is bound to reach USD 45 million by 2035 all due to the Compound Annual Growth Rate (CAGR) of 6.6%'s impact throughout the predicted years.

Attributes	Values
Estimated Industry Size in 2025	USD 23.7 million
Projected Industry Size by 2035	USD 45 million
Value-based CAGR (2025 to 2035)	6.6%

Company Performance

Global Market Share 2025	Industry Share %
Top 3 (AGOrganica, TriNutra Ltd, Amazing Herbs)	35%
Rest of Top 5 (Botanic Healthcare, Connoils LLC, Medikonda Nutrients, and OPW Ingredients GmbH)	55%
Emerging & Regional Brands (AGOrganica and others)	15%

Tier-Wise Company Classification 2025

Tier	Tier 1
Market Share (%)	35%
Key Companies	AGOrganica, TriNutra Ltd, Amazing Herbs

Tier	Tier 2
Market Share (%)	55%
Key Companies	Botanic Healthcare, Connoils LLC, Medikonda Nutrients, and OPW Ingredients GmbH

Tier	Tier 3
Market Share (%)	10%
Key Companies	AGOrganica and others

Projected to reach USD 33,215.6 million by 2035 with an impressive CAGR of 10.3%, the market thrives on the sustainability movement and advances in natural ingredient formulations.

Attribute	Details
Projected Value by 2035	USD 33,215.6 Million
CAGR during the period 2025 to 2035	10.3%

Brand Performance

Category	Industry Share (%)
Top 3 (Elementis, Croda International, Botaneco)	25%
Rest of Top 5 (Koster Keunen, The Innovation Company)	15%
Next 5 of Top 10 (Inolex, Hallstar, Sophim, others)	12%

Type of Player	Industry Share (%)
Top 10	52%
Top 20	30%
Rest	18%

Key Players

Brand	Elementis
Market Contribution (%)	12%
Key Initiatives	Developed derivatives for industrial applications

Brand	Croda International
Market Contribution (%)	10%
Key Initiatives	Launched innovative bio-based formulations

Brand	Botaneco
Market Contribution (%)	8%
Key Initiatives	Focused on eco-conscious oil blends for personal care

The United States Automotive Engine Oils Market Report is Segmented by Product Type (Passenger Car Motor Oil, Heavy Duty Motor Oil, and Motorcycle Engine Oil), Base Stock (Mineral, Synthetic, Semi-Synthetic, Bio-Based). The Market Forecasts are Provided in Terms of Volume (Liters).

Understanding the dynamics and major players in the global oil market share, including OPEC, non-OPEC countries, and the impact of technological advancements and geopolitical events.

By 2035, the Palm Oil Market is estimated to expand to USD 133.4 Billion, showcasing a robust CAGR of 5.4% between 2025 and 2035, starting from a valuation of USD 74.8 Billion in 2024.

The oil industry in the Philippines is dominated by three major companies, which collectively represent about half of the market, with Petron taking the lead at about ** percent of the total petroleum products in 2023. Meanwhile, independent companies accounted for the other **** of the market. “Big 3” oil companies  Shell Pilipinas Corporation, Petron Corporation, and Chevron Philippines are collectively referred to as the “Big Three” petroleum companies in the Philippines. Capturing the biggest market share of total petroleum products, Petron Corporation operates the remaining oil refinery in Bataan and can supply about ** percent of the country’s total fuel requirements. Meanwhile, Shell Pilipinas operates in the downstream oil and gas segment, primarily refining and marketing petroleum products. However, since 2020, it has been purely import-based after closing its refinery. Finally, Chevron Philippines, formerly Caltex, is the third-largest oil company, focusing on imports after it stopped its refining operations. Does the Philippines produces oil?  The petroleum industry in the Philippines remains under-explored, with the country’s proven oil reserves remaining unchanged since 2018. With the closure of several refineries, the Philippines only has *** existing refinery and *** oil field, with most oil companies focusing on imports and retailing. As a result, oil refining capacity has been consistent since 2020, with the most produced refinery products being diesel and gasoline. To compensate for the lack of domestic production, the Philippines imports crude oil from the Middle East and finished petroleum products from South Korea, Singapore, and China.

The Global Peanut Oil Market is Segmented by Product Type (Refined and Unrefined), by Category (Conventional and Organic), by Packaging (Bottle, Jar, Can, Pouches, and Others), by Distribution Channel (HoReCa/Foodservice, and Retail), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Market Forecasts are Provided in Terms of Value (USD) and Volume (Tonnes).

Pennzoil was the 2018 market leader among motor oil brands in United States fast lubes, with a market share of 39 percent, up from second place with a market share of 18 percent the year previous. In second place was Valvoline, with a 22 percent share of the market.

Fast lubes in the United States

Fast lubes refer to the automobile fuel and fluid maintenance shops that provide quick services such as oil changes to customers. As of April 2018, semi-synthetic oil changes were the most common type of oil change performed in U.S. fast lubes. In second place were conventional oil changes. Among synthetic motor oils, Pennzoil was also the leading brand sold in U.S. fast lubes, at a market share of 38 percent in 2018.

U.S. motor oil industry

Motor oil is made up of an assortment of substances that consist of base oils that are strengthened with additives. There are a variety of weights and grades of motor oils available, each suited to different types of vehicles. In 2018, motor oil 5W-30 accounted for 36 percent of the sales in U.S. fast lube shops. 5W-20 made up 20 percent of the sales in U.S. fast lube shops, and OW-20 made up 13 percent of sales. It is estimated that in 2018 U.S. motor oil consumption amounted to 567 million gallons in the private sector, and it is forecast to decrease to 561 million gallons in 2024.

The size of the Mustard Oil Market market was valued at USD 15.06 billion in 2024 and is projected to reach USD 21.05 billion by 2033, with an expected CAGR of 4.9 % during the forecast period. Recent developments include: In May 2024, Adani Wilmar Limited (AWL) launched Fortune Pehli Dhaar First-Pressed Mustard Oil, a premium product aimed at elevating the mustard oil category in India. The oil is crafted from the finest mustard seeds sourced from Rajasthan and extracted using the traditional wooden kolhu technique, which preserves the oil's natural essentials. This results in a rich mustard aroma, deep color, and enhanced flavor that promises to elevate cooking experiences. , In December 2023, Emami Agrotech launched Emami Healthy & Tasty Kachchi Ghani Mustard Oil with three distinct pungency levels: Mild (Jhaanjh level: .24%), Strong (Jhaanjh level: .30%), and Super Strong (Jhaanjh level: .36%). This innovative concept, tailored to individual taste preferences, aims to redefine the mustard oil landscape in India. .

The Global Vegetable Oil Market is Segmented by Product Type (Palm Oil, Soybean Oil, and More), Nature (Conventional and Organic), Packaging (Bottle, Pouches, and More), Distribution Channel (HoReCa/Foodservice and Retail) and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Market Forecasts are Provided in Terms of Value (USD).

Frankincense Essential Oil Market size is expected to be worth around USD 588 Mn by 2033, from USD 280 Mn in 2023, at a CAGR of 7.7%

Bio Oil Market Size And ForecastBio Oil Market size was valued at USD 92.59 Million in 2023 and is projected to reach USD 171.38 Million by 2031, growing at a CAGR of 9% during the forecast period 2024-2031.Global Bio Oil Market DriversThe market drivers for the Bio Oil Market can be influenced by various factors. These may include:Growing Demand For Renewable Energy: The increasing global demand for renewable energy sources is a primary driver of the Bio Oil Market. Governments are emphasizing the importance of sustainable energy to mitigate climate change impacts by reducing greenhouse gas emissions. Bio oil, derived from biomass, is seen as a crucial alternative to fossil fuels. As industries and consumers strive for cleaner energy solutions, investments in bio oil production technologies are rising. This shift not only supports energy independence but also enhances energy security, leading to greater adoption and deployment of bio oil in various applications, including power generation and transportation fuels.Technological Innovations In Biomass Conversion: Advancements in biomass conversion technologies play a significant role in driving the Bio Oil Market. Innovations such as pyrolysis, hydrothermal liquefaction, and gasification are improving the efficiency and yield of bio oil production. These technologies facilitate the conversion of diverse feedstocks, including agricultural residues and forest waste, into high-quality bio oil. Consequently, the scalability and economic viability of bio oil are enhanced, attracting both investment and interest from the energy sector. As research continues to evolve, new methods and techniques will further optimize production processes and expand the range of available biomass feedstocks, fueling market growth.Government Policies And Incentives: Government policies and incentives focusing on renewable energy sources are critical drivers for the Bio Oil Market. Many countries have implemented tax credits, subsidies, and regulations to encourage the production and use of biofuels, including bio oil. These supportive measures are designed to enhance energy security, reduce reliance on fossil fuels, and promote environmental sustainability. International agreements aimed at emission reductions further solidify the role of bio oil in achieving climate objectives. As governments seek innovative solutions to address energy challenges, ongoing policy support will continue to foster market development and increase investment in bio oil projects worldwide.Increasing Awareness Of Environmental Sustainability: Growing awareness regarding environmental sustainability and ecological conservation is significantly influencing the Bio Oil Market. Consumers and industries alike are increasingly concerned about their carbon footprints and the ecological impacts of fossil fuel dependency. This shift in perspective drives demand for bio-based products, pushing companies to innovate sustainable alternatives. Bio oil is positioned as a greener solution, contributing to reduced pollution and resource depletion. Additionally, environmentally conscious consumers are actively seeking brands that align with their values, prompting businesses to invest in sustainable practices, including the adoption of bio oil, thereby expanding market opportunities for eco-friendly energy sources.Fluctuating Crude Oil Prices: The volatility of crude oil prices acts as a substantial driver for the Bio Oil Market. Fluctuations in oil prices significantly influence energy costs, prompting consumers and businesses to seek more stable and sustainable alternatives. When crude oil prices soar, the cost-effectiveness of bio oil becomes increasingly attractive, driving its adoption in energy generation and transportation. In contrast, sustained low oil prices may pose challenges for bio oil competitiveness; however, the long-term economic and environmental benefits sustain its appeal. As the energy market continues to evolve, the strategic positioning of bio oil as a supplemental energy source remains a pivotal factor.