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Crude Oil Production in the United States increased to 13468 BBL/D/1K in April from 13450 BBL/D/1K in March of 2025. This dataset provides the latest reported value for - United States Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
The gross output of the U.S. oil and gas extraction industry stood at 478.75 billion U.S. dollars in 2023, up from 652.94 billion dollars in the previous year. Gross output saw a net increase since 2017 and generally reflect changes in crude oil prices and underlying world market developments. Growth in industry's value added Taking into account the cost of services and goods used during production, the industry's value added has increased along greater gross output. In 2023, value added by the U.S. oil and gas extraction industry climbed to over 250 billion U.S. dollars. Trends in domestic oil production Domestic oil production has grown exceptionally since technological advances and historically high oil prices made shale mining profitable. Between 2008 and 2023, U.S. oil production increased nearly three-fold, reaching a new peak in the latter year.
Oil production in the United States amounted to around 857.9 million metric tons in 2024, an increase when compared to the previous year and the highest figure recorded within the period of consideration. Between 1998 and 2024, figures increased by 490 million metric tons.
In 2023, the total revenue of the United States’ oil and gas industry came to ************* U.S. dollars. That was a considerable decrease from the previous year, when U.S. oil and gas had revenue peaked at ************* U.S. dollars. The advent of shale oil and gas Following the financial crisis, investors in the U.S. sought to increase domestic production and reduce dependence on foreign oil and gas in turbulent international markets. Despite high start-up costs, shale gas and tight oil became economically viable to extract as the result of new methods such as hydraulic fracturing (also known as fracking). Production expanded rapidly in states with large permeable rock formations of sandstone, such as Texas and North Dakota. Surplus and instability The United States’ production of shale gas and tight oil has continued to grow significantly since 2008, leading to an oversupply by 2014. During the 2010s oil glut, output and revenue decreased as petroleum prices were destabilized worldwide. The trajectory of the gross output in the United States' oil and gas extraction industry largely precipitates the changes in total revenue, both reaching a high point in 2014 before a drastic fall the following year.
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Prices for most industrial commodities strengthened further in the first quarter (q/q), while global agricultural prices remained broadly stable. Crude oil prices are forecast to rise to an average of $55 per barrel (bbl) in 2017 from $43/ bbl in 2016. The oil forecast is unchanged since October 2016 and reflects balancing forces: upward pressure on prices from production cuts agreed by Organization of Petroleum Exporting Countries (OPEC) and non-OPEC producing countries, and downward pressure from persistently high stocks, supported by the faster-than-expected rebound of the U.S. shale oil industry. Metals prices are projected to increase 16 percent as a result of strong demand in China and various supply constraints, including labor strikes and contractual disputes in the case of copper, and environmental and export policies for nickel. Agricultural commodity prices, which gained 1 percent in the first quarter, are anticipated to remain broadly stable in 2017, with moderate increases in oils and meals and raw materials offset by declines in grains and beverages.
Technavio’s market research analysts have identified the increasing applications of packer as a downhole tool as one of the primary factors that will trigger the growth of the oil and gas packer market in the coming years. Well packer is an instrument that runs into the wellbore at a smaller initial diameter. The diameter is later expanded to seal the wellbore and the packer is needed for the well execution. After the well execution is done, isolation takes place where annulus from the production conduit is removed. The packer, as a downhole instrument, is important for the basic functioning of most wells, producers, or injectors. Packer offers several advantages such as prevention of the production casing from corrosion from produced fluids along with safeguarding from high pressures and helps in separating multiple producing zones. Technavio’s market research analysts predict that this market will post a revenue more than USD 2 billion by 2022.
The increasing shale and oil gas production is one of the key trends in the oil and gas packer market. Shale gas is used by several countries across the world to strengthen their energy security and reduce the emissions. The US reduced it's crude oil imports resulting in surplus crude oil in the market. Extraction of shale resources needs a huge amount of water for hydraulic fracturing and drilling. The decreasing imports by the US resulted in the emergence of hydraulic fracturing, consequently increasing the domestic supply.
Top companies listed in this report
The oil and gas packer market is fragmented due to the presence of several players. This industry research report provides information about the competitive environment among the players in this marketspace. Moreover, our analysts also provide strategies and areas that the vendors should follow to improve their market shares and sustain the competitive environment in the packer market.
The report includes an analysis of a number of companies in this marketspace including -
Dril-Quip
GENERAL ELECTRIC
Halliburton
National Oilwell Varco
Schlumberger
Weatherford
Segmentation by product and analysis of the oil and gas packer market
Permanent packer
Retrievable packer
The permanent packer segment accounted for the major share of the packer market during 2017. During the forecast period, this segment will continue to hold the maximum share and grow steadily.
Geographical segmentation and analysis of the oil and gas packer market
Americas
APAC
EMEA
The Americas accounted for the maximum shares of the packer market during 2017. Our analysts have predicted that the Americas will witness steady growth in the market share in the next five years.
Key questions answered in the report include
What will the market size and the growth rate be in 2022?
What are the key factors driving the global oil and gas packer market?
What are the key market trends impacting the growth of the global oil and gas packer market?
What are the challenges to market growth?
Who are the key vendors in the global oil and gas packer market?
What are the market opportunities and threats faced by the vendors in the global oil and gas packer market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global oil and gas packer market?
Technavio also offers customization on reports based on specific client requirement.
The global gas processing market size will grow by USD 214.13 billion during 2019-2023 at a CAGR of over 4%. The rising demand for natural gas and innovations in gas processing technology are some of the factors expected to drive market growth. The market report provides a detailed analysis of the market by product (dry gas and NGL) 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, Exxon Mobil Corp., PetroChina Co. Ltd., PJSC Gazprom, Royal Dutch Shell Plc, and Saudi Arabian Oil Co.
Gas processing is used to separate hydrocarbons and remove impurities from unrefined natural gas produced from oil and gas wells to provide value-added products such as dry gas and NGL.
The global gas processing market is expected to witness a CAGR of 4.21% during the forecast period. Certain factors that are driving the market include rapid growth in natural gas production, increasing initiatives for adoption of NGL, and rising demand for natural gas.
Key Insights from Gas Processing Market – Global Forecast 2019-2023
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The production of natural gas is increasing due to the increased investments in upstream oil and gas and E&P activities to enhance the production of natural gas. According to the IEA, global upstream oil and gas investments grew by 6% in 2018 over that in 2017. The adoption of natural gas is growing as they produce lower greenhouse gas emissions when compared to other fossil fuels during combustion. The US and China are the largest contributors to the global natural gas production owing to the increased shale oil and gas drilling activities in the US, and CBM and shale gas drilling activities in China. Hence, the increasing natural gas production owing to higher investments and upstream oil and gas activities is driving the demand for gas processing, which in turn driving the growth of the market.
The global gas processing market is witnessing the development of several innovative technologies which will enhance the technical and economic feasibility of gas processing operation. By minimizing energy consumption, these technologies will help gas processing companies to make significant cost savings. For instance, immobilized amine technology helps in reducing the energy and size of the gas processing reactor by enhancing gas processing in the absence of an aqueous solvent and minimizing energy consumption during water evaporation. Pressure-assisted stripping (PAS) technology further boosts the efficiency of gas purification process by lowering the need for heat generation by more than 25%. Similarly, dynamic compressor model technology helps in reducing operational costs by enhancing the understanding of instabilities and operational failures of compressors during acid cleaning operation. These innovations in gas processing technology are identified as critical gas processing market trends, which will have a positive impact on the growth of the market.
The abundance, versatility, and lower carbon dioxide emissions of natural gas have boosted its popularity among end users. The demand for natural gas is particularly high in the APAC region, where the use of natural gas has increased considerably in fertilizer plants, power generation units, transportation, petrochemicals, and residential and commercial sectors. As natural gas is a clean and eco-friendly fuel, it is increasingly being used as a fuel in the transportation and power generation sector, especially in developing countries such as China and India. The increasing demand for natural gas will create a need for gas processing for separating impurities such as hydrogen sulfide, carbon dioxide, nitrogen, and water vapor from unrefined natural gas. The rising demand for natural gas will be a significant factor fueling the growth of the market at a CAGR of over 4% during the forecast period.
Industry Analysis
Quantitative Data
Market size for 2018
Market forecast for 2019 to 2023
Regional market opportunities
Market segment opportunities
Growth momentum: Overall market and individual market segments
Market condition: 2018
Market segmentation based on product: dry gas and NGL
Market size, market forecast, and growth momentum
Market size and forecast in the APAC, Europe, MEA, North America, and South America
Market forecasts for key countries
Qualitative Data
Porter's Five Forces analysis
Trends, drivers, and challenges
Vendor Landscape
Market structure
Criticality of inputs
Factors of differentiation
M
The synthetic paper market share in America is expected to increase by USD 51.21 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 6.48%.
This synthetic paper market in America 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 synthetic paper market segmentation in America by material (BOPP, HDPE, and others) and geography (US, Canada, and Rest of America). The synthetic paper market in America report also offers information on several market vendors, including ARJOBEX SAS, DuPont de Nemours Inc., Have Our Plastic Inc., Nan Ya Plastics Corp., Neenah Inc., PPG Industries Inc., Relyco Sales Inc., Seiko Epson Corp., Transcendia Inc., and Yupo Corp. among others.
What will the Synthetic Paper Market Size in America be During the Forecast Period?
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Synthetic Paper Market in America: Key Drivers, Trends, and Challenges
Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The high demand from the beverage industry is notably driving the synthetic paper market growth in America, although factors such as the fluctuating crude oil prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the synthetic paper industry in America. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Synthetic Paper Market Driver in America
The high demand from the beverage industry is notably driving the synthetic paper market growth in America. The rising demand for paper has resulted in increasing deforestation across the world. This imposes a huge threat to the existence of various animals and impacts the environment in several ways. In the US, about 85 million tons of paper is used annually. Thus, to offset the growing demand for wood pulp-based paper, synthetic paper can be used as a substitute. Synthetic paper does not require wood pulp for its production and has a superior quality compared with regular paper. This paper does not use any organic materials for its production. Instead, it is manufactured using non-organic materials like synthetic resins. Also, the paper offers better resistance to wear and tear and protection from oil, chemical, and water exposure. Overall, the level of sustainability offered by synthetic paper drives the growth of the synthetic paper market in Americas.
Key Synthetic Paper Market Trend in America
The rise in inkjet printing is the key trend driving the synthetic paper market growth in America. The adoption of inkjet technology has grown due to its various features. The printing technology is relatively affordable and faster. Inkjets are used in the labeling industry because they exhibit excellent printing properties. The printing done using inkjet technology is free from ink loss due to scratches, exposure to chemicals, or water. This eliminates the need for over-varnishing of labels, thereby cutting down additional steps and saving costs. The inkjet has good adhesion properties for a wide variety of substrates, such as PVC and PE films. These properties make it ideal for printing applications of synthetic paper. In addition, pretreatment of the substrate is not required, thereby reducing the cost associated with the entire process. The growth of this technology will impact the synthetic paper market in America because the availability of such technology will enhance printability as well as make it appropriate for many kinds of applications
Key Synthetic Paper Market Challenge in America
The fluctuating crude oil prices will be a major challenge for the synthetic paper market growth in America during the forecast period. The major supplier of raw materials for the synthetic paper market in America is the oil and gas industry. The volatility in the price of raw materials used in the production of synthetic paper will affect its production. The crude oil prices dipped during 2014 and 2017 due to the overproduction of oil by the Organization of the Petroleum Exporting Countries (OPEC) and rise in alternatives like shale gas. Since the end of 2017, oil and gas prices increased until 2019. However, in the first half of 2020, the average price of crude oil witnessed a significant decrease due to the outbreak of the COVID-19 pandemic. The volatile prices of crude oil will impact the vendors, owing to the fluctuation in their production costs. This will adversely affect the margins of the vendors as well. Synthetic papers are considered to be more expensive than regula
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Over the past decade, the United States has seen a rapid increase in oil and gas extraction from areas where resources were previously thought to be unrecoverable, particularly the Bakken shale formation in North Dakota. The Bakken overlaps with the Prairie Pothole Region, the most critical habitat in North America for breeding ducks, where oil and gas extraction through hydraulic fracturing has the potential to impact more than a million duck pairs in the United States alone. Here, we evaluated the effect of oil and gas development on nesting ducks 2015–2017 across 5 counties in North Dakota. Using data from ~4,000 nests we found that nest survival was higher at sites composed of a higher percentage of grassland, and for nests found closer to major roads. We found no effect of any metric of oil and gas extraction activity on duck nest survival. Using survival-corrected estimates of nest density, we found higher densities of nests closer to roads, but lower nest densities at sites surrounded by more wells. Our top-ranked model indicated that nest density was predicted to decline by 14% relative to sites with no development, given the average number of wells (3.15 wells) within 1500 m of a site. However, within a nesting field, we found no evidence that ducks were avoiding petroleum-related infrastructure at smaller spatial scales. Our results indicate mixed effects of oil and gas development on nesting waterfowl, and highlight both the resiliency of dabbing ducks to environmental change and the need for additional research on other aspects of duck breeding biology.
Electricity usage varies significantly between U.S. cities. In 2017, Miami had the highest average monthly electricity usage with ***** kilowatt hours used on average. San Francisco had the lowest average usage with just *** kilowatt hours. Electricity in the U.S. Electricity is used as a power source for a variety of things in the U.S. including cooling, technology, and some transportation. Electricity is generated from a variety of sources. Globally, coal/peat/oil shale accounts for the largest share of the world’s electricity production. The electricity generating capacity in the U.S. has grown significantly in recent years and is expected to continue to grow. Energy Usage in the U.S. Energy consumption in the U.S. shows distinct trends. Primary energy consumption in the U.S. has remained stable since 1998 with some decreases in recent years. However, some sectors consume more than others. In recent years, the electric power sector consumed the largest quantity of energy generated in the U.S.. Sources of energy are also used differently. As of 2018, petroleum and natural gas are the most commonly consumed energy sources in the United States.
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Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
License information was derived automatically
Crude Oil Production in the United States increased to 13468 BBL/D/1K in April from 13450 BBL/D/1K in March of 2025. This dataset provides the latest reported value for - United States Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.