Oil Industry 2021

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Rely on our Market Intelligence platform to get the latest trends on the Oil Industry and anticipate the future of the sector.

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US Oil Industry 2021‑2024

  • 8174 reports

  • Shale Oil Production, Tight Oil Production, Oil Sands Production, Heavy Oil Price…
  • 3505 statistics

  • Crude Oil Import, Crude Oil Export, Natural Gas Export, Natural Gas Import…
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Global Oil Industry 2021‑2024

  • 6769 reports

  • Shale Oil Production, Tight Oil Production, Oil Sands Production, Heavy Oil Production…
  • 151 statistics

  • Crude Oil Price, Crude Oil Production, Crude Oil Demand, Fruits Production…
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North American Oil Industry 2021‑2024

  • 4871 reports

  • Oil Sands Production, Heavy Oil Production, Heavy Oil Price, Shale Oil Production…
  • 58 statistics

  • Crude Oil Demand, Crude Oil Export, Crude Oil Production, Crude Oil Import…
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Canadian Oil Industry 2021‑2024

  • 1459 reports

  • Oil Sands Production, Heavy Oil Price, Heavy Oil Production, Oil Sands Reserves…
  • 1810 statistics

  • Crude Oil Import, Crude Oil Export, Natural Gas Import, Natural Gas Export…
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Indian Oil Industry 2021‑2024

  • 1287 reports

  • Shale Oil Production, Heavy Oil Production, Oil Sands Production, Oil Sands Reserves…
  • 2315 statistics

  • Crude Oil Export, Crude Oil Import, Natural Gas Import, Natural Gas Export…
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Asian Oil Industry 2021‑2024

  • 1183 reports

  • Shale Oil Production, Oil Sands Production, Tight Oil Production, Shale Oil Price…
  • 87 statistics

  • Fruits Production, Crude Oil Demand, Crude Oil Import, Crude Oil Export…
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Chinese Oil Industry 2021‑2024

  • 1081 reports

  • Shale Oil Production, Tight Oil Production, Heavy Oil Price, Unconventional Oil Production…
  • 1761 statistics

  • Crude Oil Import, Crude Oil Export, Natural Gas Export, Crude Oil Demand…
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Middle Eastern Oil Industry 2021‑2024

  • 578 reports

  • Shale Oil Production, Tight Oil Production, Oil Shale Reserves, Oil Sands Reserves…
  • 18 statistics

  • Crude Oil Demand, Crude Oil Production, Natural Gas Condensate Production, Oil Refining Capacity…

Top Insights for Oil Markets:

Decrease in fuel consumption due to COVID-19 caused reduction in crude oil throughput. In addition, global crude oil supply increased significantly due to a geopolitically driven crude oil price war.

According to the International Energy Agency, by the end of the third quarter of 2020, oil consumption will rise steeply, due to the expected recovery of the economy and the end of lockdown measures.

Wholesale propane supply prices were lower primarily due to the increase in propane inventory levels in the U.S. compared to the prior year quarter, driven by decreased propane exports out of North America and the impact from lower average West Texas Intermediate ("WTI") crude oil prices compared to the prior year quarter.

Overview per country:

  • US: For all of 2020, EIA forecasts that U.S. motor gasoline consumption will average 8.3 million b/d, a decrease of 11% compared with 2019, while jet fuel and distillate fuel oil consumption will fall by 25% and 10%, respectively, during the same period. EIA forecasts U.S. crude oil production will average 11.7 million b/d in 2020, down 0.5 million b/d from 2019.
  • China: In addition to a forecast by the Chinese National Petroleum Company of a 2% year-over- year increase in oil imports this year they also project Chinese apparent crude oil consumption will increase by 1% to 2% this year.
  • Norway: Norwegian gas production and exports will reduce somewhat due to oil production cuts (as part of the April 2020 OPEC+ agreement) and low prices will also delay new developments.
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