Crude Oil fell to 59.17 USD/Bbl on December 2, 2025, down 0.25% from the previous day. Over the past month, Crude Oil's price has fallen 3.08%, and is down 15.40% compared to the same time last year, 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 December of 2025.

Brent fell to 63.05 USD/Bbl on December 2, 2025, down 0.19% from the previous day. Over the past month, Brent's price has fallen 2.84%, and is down 14.36% 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 December of 2025.

According to a 2025 survey, oil producers operating in the Permian region needed WTI oil prices to amount to a minimum of ** U.S. dollars per barrel in order to profitably drill a new well. This compared to a minimum breakeven price of ** U.S. dollars per barrel for existing wells. The monthly average WTI oil price ranged between ** and ** U.S. dollars per barrel around the time of the survey. Most productive oil basins Operators in shale basins have the lowest average breakeven prices for new wells. However, when it comes to existing wells, operators in the Permian (Delaware) basin can afford even lower oil prices. The Permian basin, located in Texas and New Mexico, accounts for the greatest U.S. oil production output of any region. In 2024, production in the Permian reached nearly *********** barrels per day - more than **** times the amount extracted from the neighboring Eagle Ford rock formation. Texas is leading oil producing state With both regions located in Texas, it is not surprising that this is also the leading crude oil producing U.S. state. Nearly two billion barrels worth of crude oil were extracted in Texas per year, far more than any other state. Texas is home to a total of five major oil and gas formations.

Romania RO: Crude Oil Production: Average Price per Barrel data was reported at 70.754 USD/Barrel in Feb 2025. This records a decrease from the previous number of 74.377 USD/Barrel for Jan 2025. Romania RO: Crude Oil Production: Average Price per Barrel data is updated monthly, averaging 71.818 USD/Barrel from Jan 2020 (Median) to Feb 2025, with 62 observations. The data reached an all-time high of 115.271 USD/Barrel in Jun 2022 and a record low of 16.904 USD/Barrel in Apr 2020. Romania RO: Crude Oil Production: Average Price per Barrel data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s Romania – Table RO.Eurostat: Crude Oil Supply: by Energy Balance and Indicator.

In 2023, approx. 62M tons of crude petroleum oil were imported into Spain; waning by -3.8% on the year before.

Romania RO: Crude Oil Production: Average Price per Tonne data was reported at 520.675 USD/Tonne in Feb 2025. This records a decrease from the previous number of 553.680 USD/Tonne for Jan 2025. Romania RO: Crude Oil Production: Average Price per Tonne data is updated monthly, averaging 528.287 USD/Tonne from Jan 2020 (Median) to Feb 2025, with 62 observations. The data reached an all-time high of 857.287 USD/Tonne in Jun 2022 and a record low of 120.659 USD/Tonne in Apr 2020. Romania RO: Crude Oil Production: Average Price per Tonne data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s Romania – Table RO.Eurostat: Crude Oil Supply: by Energy Balance and Indicator.

The encounter rate of motile bacteria with passive solid particles and microdroplet droplets was measured and studied. The bacteria strain studied here is Pseudomonas P62 and the solid particles are 1 micron size latex spheres. We generated pendent droplet with different sizes pinned in microfluidic channels. Files included are raw and processed image sequences of experiments. These data are used to obtain colloids positions and their trajectories. The velocity fields and dispersion coefficients of the particles also are measured are different flow rates.

On April 20, 2010, the BP Deepwater Horizon (DWH) offshore oil platform experienced an explosion that triggered the largest marine oil spill in US history, resulting in the release of ~795 million liters of southern LA light sweet crude oil into the Gulf of Mexico. Approximately 7.9 million liters of dispersant, Corexit EC9500A, was used during the spill for remediation. We examined the effect of DWH crude oil and Corexit EC9500A, the dispersant used during the spill, on coastal Louisiana marsh soil microbial populations and processes. Surface soil samples were collected from an unimpacted salt marsh site proximal to areas that suffered light to heavy oiling in Barataria Bay, LA. The 1:10 ratio of crude oil:wet soil fully coated the soil surface, mimicking a heavy oiling scenario. Potential denitrification rates at the 1:10 oil:wet soil ratio, for weathered south LA light sweet crude oil, were 46 ± 18.4% of the control immediately after exposure and 62 ± 8.0% of the control following a two week incubation period. Denitrification rates of soil exposed to fresh crude oil were 51 .5 ± 5.3% of the control after immediate exposure and significantly lower at 10.9 ± 1.1 % after a 2 week exposure period. Microbial biomass nitrogen(N) values were below detection for the 1:10, 1:100 and 1:1,000 Corexit:wet soil treatments. Potentially mineralizable N correlated with microbial biomass with decreased activity for 1:10 and 1:100 Corexit:wet soil treatments. Potential denitrification rates after immediate exposure to Corexit:wet soil ratios of 0:10, 1:10, 1:100, 1:1,000, and 1:10,000 were below detection for the 1:10 treatment while the 1:100 was 7.6 ± 2.7% of the control and the 1:1,000 was 33 ± 4.3% of the control. The 1:10,000 treatment was not significantly different from the control. Denitrification rates measured after 2 weeks exposure showed the 1:10 treatment still below detection limit and the 1:100 was 12 ± 2.6% of the control. Results suggest that while both crude oil and Corexit impact denitrification, which is an important microbial process for water quality, Corexit is more detrimental at identical concentrations.

In 2023, shipments abroad of crude groundnut oil decreased by -14.1% to 62 tons, falling for the second consecutive year after two years of growth.

Oil prices steadied following OPEC+'s agreement to increase supply quotas by 137,000 barrels per day, with Saudi Arabia maintaining cautious pricing signals amid market uncertainty.

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The bio-based platform chemicals market share is expected to increase by USD 2.12 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 10.78%.

This bio-based platform chemicals 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 bio-based platform chemicals market segmentation by chemical type (bio-1 4 diacids, bio-glycerol, bio-glutamic acid, bio-3-HPA, and bio-itaconic acid) and geography (APAC, Europe, North America, MEA, and South America). The bio-based platform chemicals market report also offers information on several market vendors, including BASF SE, Braskem SA, DuPont Tate & Lyle Bio Products Company LLC, Evonik Industries AG, IP Group Plc, Koninklijke DSM NV, LyondellBasell Industries NV, Merck KGaA, Parchem fine & specialty chemicals Inc., and PTT Global Chemical Public Co. Ltd. among others.

What will the Bio-based Platform Chemicals Market Size be During the Forecast Period?

Download Report Sample to Unlock the Bio-based Platform Chemicals Market Size for the Forecast Period and Other Important Statistics

Bio-based Platform Chemicals Market: Key Drivers, Trends, and Challenges

The volatility in crude oil prices is notably driving the bio-based platform chemicals market growth, although factors such as high production cost 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 bio-based platform chemicals industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Bio-based Platform Chemicals Market Driver

Volatility in crude oil prices is one of the major drivers of the bio-based platform chemicals market growth. The use of crude oil as a carbon feedstock for producing chemicals has dominated the industry. The oil and gas industry is one of the major suppliers of raw materials to the global platform chemicals market. The fluctuations in the crude oil prices affect the prices of the raw materials considerably, thereby affecting the costs of platform chemicals. The price of Brent crude oil per barrel decreased in the subsequent years, by nearly 60% in 2016 compared to 2012. In 2018, the price of Brent crude oil increased by almost 62% compared to 2016, but the price again decreased by 40% in 2020. The volatile prices of raw materials will directly affect the revenue and profit margins of the manufacturers. Vendors are compelled to seek alternative solutions to maintain their profit margins, thereby reducing the use of petroleum-derived feedstock chemicals. In addition, the continuous supply of raw materials could be negatively affected by adverse weather conditions, national emergencies, natural disasters, supply shortages, and other events. The price fluctuations and non-availability of raw materials can affect the cost of the products and operations of the vendors. Bio-based platform chemicals have emerged as an alternative to petroleum-based chemicals owing to the comparatively stable costs.

Key Bio-based Platform Chemicals Market Trend

An increase in R&D activities is one of the major trends in the bio-based platform chemicals market growth. Growing R&D expenditure is a major trend that is being witnessed in the global bio-based platform chemicals market in recent years. There has been a significant increase in R&D activities to increase the application areas of bio-based platform chemicals in various industries, such as biofuels and resins, by many major vendors in recent years. Globally, major bio-based platform chemicals players have increased their R&D spending to reduce the manufacturing cost of bio-based platform chemicals. Furthermore, the manufacturers have been heavily emphasizing new product innovations and developments to maintain a competitive edge and gain shares in the market. In 2016, an International Bioeconomy Forum (IBF) aimed at improving the orientation of research in Europe and fostering multilateral cooperation was formed. This forum helps in providing an informal multilateral network for countries that are engaged in the development of a bio-based economy.

Key Bio-based Platform Chemicals Market Challenge

High production cost is one of the major challenges to the bio-based platform chemicals market growth. The US has set a goal to produce 21 billion gallons of advanced biofuels by 2022. To achieve the target, the gap between research and commercial, large-scale production of advanced biofuels must be bridged. Building a bio-refinery plant costs more than $100 million, and it takes 3-4 years to complete the construction. Achieving the national energy and climate goals will require a large, economically viable, and environmentally sustainable

Saudi Arabia GDP: Producer Values: Mining and Quarrying: Crude Oil and Natural Gas data was reported at 217,913.457 SAR mn in Jun 2018. This records an increase from the previous number of 183,627.021 SAR mn for Mar 2018. Saudi Arabia GDP: Producer Values: Mining and Quarrying: Crude Oil and Natural Gas data is updated quarterly, averaging 175,176.046 SAR mn from Mar 2003 (Median) to Jun 2018, with 62 observations. The data reached an all-time high of 348,760.804 SAR mn in Mar 2012 and a record low of 70,082.900 SAR mn in Sep 2003. Saudi Arabia GDP: Producer Values: Mining and Quarrying: Crude Oil and Natural Gas data remains active status in CEIC and is reported by General Authority for Statistics. The data is categorized under Global Database’s Saudi Arabia – Table SA.A007: GDP: by Industry: Current Price.

The Romanian crude coconut oil market soared to $1.2M in 2024, jumping by 62% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a mild increase. Crude coconut oil consumption peaked in 2024 and is likely to see steady growth in the near future.

Global oil majors face pressure to cut $100+ billion in shareholder returns as persistent sub-$70 crude prices challenge sustainability of current dividend and buyback programs, prompting industry-wide restructuring and asset divestments.

Producers have faced volatile operating conditions over the past five years. The industry's small size on a global scale and concentration in the Taranaki region make it feasible for a small number of firms to hold a significant market share. Fluctuations in crude oil prices and energy demand have significantly shaped producers' performance. Declining industry production volumes and weaker pricing because of pandemic-related travel restrictions weighed heavily on industry revenue in 2020-21. Surging oil and gas prices, driven by a strong recovery in demand and supply disruptions, supported rebounding industry revenue over the two years through 2022-23. As supply conditions normalised, the softened oil prices have squeezed oil producers' revenue expansion. Gas producers are also contending with the offshore exploration bans, mounting regulatory pressures, contracting production volumes and ageing fields, compounding this slump. Overall, industry revenue is expected to have fallen at an annualised 1.8% over the five years through 2025-26, to $2.2 billion. This includes an expected decline of 4.2% in 2025-26 as oil prices abate and production volumes continue to fall. These factors are also expected to hamper operators' profitability. New Zealand's planned transition from fossil fuels towards renewable energy sources has weighed on demand for domestic gas over the past few years. However, periods of low water availability in hydropower systems have supported demand for fossil fuels from energy generators, boosting domestic natural gas prices. As the global energy transition takes shape, the industry's future will hinge on adaptability, policy shifts and gas's role in grid reliability. As New Zealand faces the issue of dwindling gas reserves, the Central Government (Te Kawanatanga o Aotearoa) has introduced a bill that will reverse its ban on offshore gas exploration in September 2024 and has committed to a$200 million contingency fund for new gas projects as part of the 2025 Budget. If the bill is approved, oil and gas producers are set to benefit as production volumes could recover over the coming years. Even so, much of it will depend on producers' willingness to invest in exploration and infrastructure development amid persistent regulatory uncertainty, policy shifts, environmental opposition and a bleak outlook. Crude oil prices are projected to remain weak over the next five years while industry output is forecast to contract. These trends are why revenue is forecast to decline at an annualised 0.9% over the five years through 2030-31, to $2.1 billion.

Latvia LV: Crude Death Rate: per 1000 Persons data was reported at 18.700 NA in 2050. This records an increase from the previous number of 18.600 NA for 2049. Latvia LV: Crude Death Rate: per 1000 Persons data is updated yearly, averaging 14.850 NA from Jun 1989 (Median) to 2050, with 62 observations. The data reached an all-time high of 18.700 NA in 2050 and a record low of 12.300 NA in 1989. Latvia LV: Crude Death Rate: per 1000 Persons data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s Latvia – Table LV.US Census Bureau: Demographic Projection.

Latvia LV: Crude Birth Rate: per 1000 Persons data was reported at 8.000 NA in 2050. This stayed constant from the previous number of 8.000 NA for 2049. Latvia LV: Crude Birth Rate: per 1000 Persons data is updated yearly, averaging 8.300 NA from Jun 1989 (Median) to 2050, with 62 observations. The data reached an all-time high of 14.700 NA in 1989 and a record low of 7.500 NA in 2033. Latvia LV: Crude Birth Rate: per 1000 Persons data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s Latvia – Table LV.US Census Bureau: Demographic Projection.

Estonia EE: Crude Birth Rate: per 1000 Persons data was reported at 7.800 NA in 2050. This records a decrease from the previous number of 7.900 NA for 2049. Estonia EE: Crude Birth Rate: per 1000 Persons data is updated yearly, averaging 8.900 NA from Jun 1989 (Median) to 2050, with 62 observations. The data reached an all-time high of 15.500 NA in 1989 and a record low of 7.600 NA in 2029. Estonia EE: Crude Birth Rate: per 1000 Persons data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s Estonia – Table EE.US Census Bureau: Demographic Projection.

The Philippine crude groundnut oil market totaled $42M in 2024, surging by 8.5% against the previous year. In general, consumption enjoyed a prominent expansion. Over the period under review, the market attained the peak level at $62M in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

Moldova MD: Crude Birth Rate: per 1000 Persons data was reported at 8.800 NA in 2050. This records a decrease from the previous number of 8.900 NA for 2049. Moldova MD: Crude Birth Rate: per 1000 Persons data is updated yearly, averaging 10.300 NA from Jun 1989 (Median) to 2050, with 62 observations. The data reached an all-time high of 19.100 NA in 1989 and a record low of 8.800 NA in 2050. Moldova MD: Crude Birth Rate: per 1000 Persons data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s Moldova – Table MD.US Census Bureau: Demographic Projection.