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.

This statistic shows the forecasted price of oil in the United Kingdom (UK) from 2017 to 2024, in U.S. dollars per barrel. The price of oil is expected to increase to 64.5 U.S. dollars in 2023/24.

As of the fourth quarter of 2024, oil prices in the United Kingdom stood at 74 dollars per barrel, with prices expected to rise to 76.6 dollars a barrel in early 2025, before gradually falling in subsequent quarters.

Comparative quadratic regression analysis (control variables included in the model).

Lukoil stock price, live market quote, shares value, historical data, intraday chart, earnings per share and news.

Lukoil reported 4.34 in PE Price to Earnings for its fiscal quarter ending in June of 2024. Data for Lukoil | LKOH - PE Price to Earnings including historical, tables and charts were last updated by Trading Economics this last July in 2025.

Correlations between ROE and indicators with potential impact on profitability.

Comparative linear regression analysis.

The global medium sulfur crude oil market is a significant segment within the broader energy landscape, exhibiting substantial growth potential over the forecast period (2025-2033). While precise market size figures for 2019-2024 are unavailable, industry reports suggest a substantial market value, estimated conservatively at $500 billion in 2025, reflecting strong demand from various sectors. This value is projected to increase at a Compound Annual Growth Rate (CAGR) of approximately 4%, driven primarily by robust global energy consumption, particularly in developing economies experiencing rapid industrialization. Key growth drivers include the increasing demand for transportation fuels (gasoline, diesel), petrochemicals, and power generation. However, the market faces certain constraints including fluctuating oil prices, geopolitical instability impacting supply chains, and increasing pressure to transition towards cleaner energy sources. The segment is further segmented by geographic regions (North America, Europe, Asia-Pacific, Middle East, and others), each presenting unique market dynamics shaped by their respective energy policies, production capacities, and consumption patterns. Leading companies in the medium sulfur crude oil market include established international players like Saudi Aramco, Rosneft, and ExxonMobil, along with national oil companies from various producing regions. The competitive landscape is characterized by both intense rivalry amongst major producers and strategic alliances aimed at optimizing production and distribution networks. The future trajectory of the medium sulfur crude oil market will largely depend on factors such as global economic growth, technological advancements in oil extraction and refining, and the effectiveness of governmental policies promoting energy security and sustainable development. While a transition towards renewable energy sources is undeniable, the medium sulfur crude oil market is projected to remain a vital component of the global energy mix for the foreseeable future, supported by persistent demand and established infrastructure. Industry projections suggest a continued albeit moderated growth trajectory, influenced by ongoing geopolitical considerations and the growing emphasis on environmental sustainability.

Russia LUKOIL: Year to Date: Cost of Goods & Services Sold data was reported at -5,143,569.000 RUB th in Mar 2018. This records an increase from the previous number of -19,364,531.000 RUB th for Dec 2017. Russia LUKOIL: Year to Date: Cost of Goods & Services Sold data is updated quarterly, averaging -25,353,161.500 RUB th from Dec 2001 (Median) to Mar 2018, with 66 observations. The data reached an all-time high of 9,042,473.000 RUB th in Jun 2017 and a record low of -566,143,000.000 RUB th in Dec 2006. Russia LUKOIL: Year to Date: Cost of Goods & Services Sold data remains active status in CEIC and is reported by Company Financial Statement. The data is categorized under Russia Premium Database’s Mining and Quarrying Sector – Table RU.BAJ004: Company Financial Data: Crude Oil: LUKOIL.

Lukoil reported $6.28B in Stock for its fiscal quarter ending in December of 2021. Data for Lukoil | LKOH - Stock including historical, tables and charts were last updated by Trading Economics this last July in 2025.

Lukoil reported RUB843.46B in Cost of Sales for its fiscal quarter ending in June of 2024. Data for Lukoil | LKOH - Cost Of Sales including historical, tables and charts were last updated by Trading Economics this last July in 2025.

Russia LUKOIL Sales Value: Crude Oil: Cost Compensation and Remuneration at the West Qurna-2 Project data was reported at 22,355.000 RUB mn in Dec 2021. This records an increase from the previous number of 11,563.000 RUB mn for Sep 2021. Russia LUKOIL Sales Value: Crude Oil: Cost Compensation and Remuneration at the West Qurna-2 Project data is updated quarterly, averaging 11,881.500 RUB mn from Mar 2015 (Median) to Dec 2021, with 28 observations. The data reached an all-time high of 55,925.000 RUB mn in Sep 2015 and a record low of 7,634.000 RUB mn in Mar 2017. Russia LUKOIL Sales Value: Crude Oil: Cost Compensation and Remuneration at the West Qurna-2 Project data remains active status in CEIC and is reported by Public Joint Stock Company Lukoil. The data is categorized under Russia Premium Database’s Energy Sector – Table RU.RBK004: LUKOIL Sales: Domestic and Exports.

United Kingdom UK: Oil Rents: % of GDP data was reported at 0.291 % in 2016. This records an increase from the previous number of 0.223 % for 2015. United Kingdom UK: Oil Rents: % of GDP data is updated yearly, averaging 0.585 % from Dec 1971 (Median) to 2016, with 46 observations. The data reached an all-time high of 2.664 % in 1984 and a record low of 0.000 % in 1971. United Kingdom UK: Oil Rents: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Kingdom – Table UK.World Bank.WDI: Land Use, Protected Areas and National Wealth. Oil rents are the difference between the value of crude oil production at regional prices and total costs of production.; ; World Bank staff estimates based on sources and methods described in 'The Changing Wealth of Nations 2018: Building a Sustainable Future' (Lange et al 2018).; Weighted average;

Lukoil reported RUB367.81B in Debt for its fiscal quarter ending in June of 2024. Data for Lukoil | LKOH - Debt including historical, tables and charts were last updated by Trading Economics this last July in 2025.

Lukoil reported RUB279.62B in Net Income for its fiscal quarter ending in June of 2024. Data for Lukoil | LKOH - Net Income including historical, tables and charts were last updated by Trading Economics this last July in 2025.

Snapshot img { margin: 10px !important; } The fuel oil market size will decrease by USD 84.77 billion during 2020-2024. This report provides a detailed analysis of the market by application (marine, industrial, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including BP Plc, Chevron Corp., Exxon Mobil Corp., JXTG Holdings Inc., PJSC LUKOIL, PT Pertamina(Persero), Qatar Petroleum, Reliance Industries Ltd., Royal Dutch Shell Plc, and SK Innovation Co. Ltd.

Market Overview

Browse TOC and LoE with selected illustrations and example pages of Fuel Oil Market

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Market Competitive Analysis

The fuel oil market is fragmented with numerous vendors that produce and supply fuel oil to customers. Vendors need to make high capital investments to remain competitive in the market. BP Plc, Chevron Corp., and Exxon Mobil Corp. are some of the major market participants. Although the rise in world energy demand will offer immense growth opportunities, the fluctuations in crude oil prices will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this fuel oil market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this fuel oil market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

BP Plc
Chevron Corp.
Exxon Mobil Corp.
JXTG Holdings Inc.
PJSC LUKOIL
PT Pertamina(Persero)
Qatar Petroleum
Reliance Industries Ltd.
Royal Dutch Shell Plc
SK Innovation Co. Ltd.

Fuel Oil Market: Segmentation by Application

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The primary requirement of any marine engine is to propel the ship or generate onsite power by using the energy obtained from burning fuel oil. The mega marine engines of ships burn tons of fuel every day to propel the massively loaded ships. The rise in demand for bunker fuel oil due to the growing seaborne trade and growing naval activities will drive the demand for fuel oil for marine.

However, market growth in this segment will be slower than the growth of the market in the industrial and other segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the fuel oil market size.

Fuel Oil Market: Segmentation by Geography

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North America will offer several growth opportunities to market vendors during the forecast period. The strong consumption of space heating fuel, growing refinery capacity, and proliferating marine trade will significantly influence fuel oil market growth in this region over the forecast period. The US is a key market for fuel oil in North America.

Fuel Oil Market: Key Drivers and Trends

The fluctuation in oil prices has affected the business of several oil and gas companies and refinancing companies. As a result, crude oil processing projects generate less revenue and many oil and gas companies suspend or postpone their exploration and production projects. Fluctuations in crude oil prices also impact investments in E&P and refining projects. Such factors will result in a slowdown in the growth of the global fuel oil market during the forecast period.

The adoption of blockchain in the oil and gas industry helps in overcoming several issues including the complexity of logistics, high fuel prices, and environmental pollution. Blockchain platforms facilitate secure and faster transactions between the entities and maintain transparency. Blockchain also helps in reducing cash cycle time and intermediary costs. These benefits will result in an increase in the adoption of blockchain to enhance the overall operational efficiency of the existing refineries. As a result of such factors, the fuel oil market will register a CAGR of (13)% during the forecast period.

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Fuel Oil Market: Key Highlights of the Report for 2020-2024

CAGR of the market

The global fuel oil market, valued at approximately $150 billion in 2025, is projected to experience robust growth, driven primarily by increasing energy demand in developing economies and the persistent reliance on fuel oil in certain industrial sectors like maritime transport and power generation. The market's compound annual growth rate (CAGR) is estimated at 3.5% from 2025 to 2033, indicating a steady expansion despite the global push towards cleaner energy sources. Key drivers include the ongoing need for heavy fuel oil in shipping, particularly in emerging markets with less stringent emission regulations, and its continued use in certain industrial processes where it remains a cost-effective energy source. However, stringent environmental regulations aimed at reducing sulfur emissions, coupled with the increasing adoption of cleaner alternatives such as natural gas and renewable energy sources, pose significant restraints on market growth. The market is segmented by application (transportation, petrochemical, petroleum refineries, building) and type (distillate and residual fuel oil), with residual fuel oil holding a larger market share due to its widespread use in the maritime and power generation sectors. Geographic analysis reveals that Asia-Pacific, particularly China and India, will be a major growth engine due to their expanding industrial sectors and rising energy consumption. North America and Europe, while mature markets, will continue to contribute significantly, although their growth rates will likely be slower than those in developing regions. The competitive landscape is dominated by major integrated oil and gas companies such as Gazprom, Rosneft, ExxonMobil, PetroChina, BP, Royal Dutch Shell, Chevron, Petrobras, Lukoil, Total, and Equinor. These companies wield significant influence over production, distribution, and pricing, shaping the market dynamics. Future growth hinges on the balance between the persistent demand for cost-effective energy solutions and the increasing pressure to transition towards cleaner and more sustainable energy alternatives. The market's trajectory will be significantly influenced by government policies, technological advancements in emission control, and the evolving global energy landscape. Companies are investing in cleaner fuel technologies and diversifying their portfolios to adapt to the changing market conditions.

Lukoil reported RUB6.49T in Equity Capital and Reserves for its fiscal quarter ending in June of 2024. Data for Lukoil | LKOH - Equity Capital And Reserves including historical, tables and charts were last updated by Trading Economics this last July in 2025.