Oil Industry 2022

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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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Global Oil Industry 2022‑2026

  • 17631 reports

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

  • Crude Oil Export, Crude Oil Import, Crude Oil Production, Crude Oil Demand…
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US Oil Industry 2022‑2026

  • 16283 reports

  • Shale Oil Production, Tight Oil Production, Oil Sands Production, Heavy Oil Production…
  • 1489 statistics

  • Crude Oil Import, Crude Oil Export, Palm Oil Export, Cleaning Compound Export…
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North American Oil Industry 2022‑2026

  • 9825 reports

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

  • Crude Oil Demand, Crude Oil Production, Crude Oil Reserves, Crude Oil Export…
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Indian Oil Industry 2022‑2026

  • 3428 reports

  • Shale Oil Production, Oil Sands Production, Unconventional Oil Production, Shale Oil Price…
  • 924 statistics

  • Crude Oil Export, Crude Oil Import, Crude Oil Demand, Crude Oil Production…
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Canadian Oil Industry 2022‑2026

  • 3446 reports

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

  • Crude Oil Import, Crude Oil Export, Crude Oil Production, Resins Import…
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Asian Oil Industry 2022‑2026

  • 2881 reports

  • Shale Oil Production, Shale Oil Export, Tight Oil Production, Heavy Oil Demand…
  • 18 statistics

  • Crude Oil Reserves, Crude Oil Demand, Crude Oil Import, Crude Oil Export…
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Chinese Oil Industry 2022‑2026

  • 2722 reports

  • Shale Oil Production, Tight Oil Production, Unconventional Oil Production, Heavy Oil Production…
  • 1007 statistics

  • Crude Oil Import, Crude Oil Export, Crude Oil Demand, Crude Oil Production…
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European Oil Industry 2022‑2026

  • 2981 reports

  • Shale Oil Production, Tight Oil Production, Heavy Oil Reserves, Unconventional Oil Production…
  • 671 statistics

  • Crude Oil Import, Crude Oil Export, Crude Oil Production, Crude Oil Demand…

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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