Crude Oil Market Intelligence

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Are you looking for answers on Crude Oil category?

Are you looking for answers on Crude Oil category?

  • What are the key trends in Crude Oil category?
  • Am I paying the right price?
  • Am I working with the right supplier?
  • What are the major challenges and risks in Crude Oil industry?
  • How is Crude Oil industry performing?

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Report Coverage

  • Region-wise Oil Production and Consumption
  • Global Crude Oil Market Analysis
  • Crude Oil Trade Movement
  • Crude Oil Spread Analysis

The global fuel oil supply stands at 92.7 Mbpd (Million Barrels per day) and the the global fuel oil demand stands at 98.18 Mbpd. This demand is further expected to increase at a CAGR of 1.8 percent until 2020. The OECD countries contribute about 14.3 percent of the total proven crude oil reserves globally, whereas non-OECD countries contribute about 85.7 percent. APAC is the largest crude oil consuming region, followed by North America and Europe.  A historical crude oil price trend analysis discusses how crude oil prices have been highly volatile in the past 20 years, and a fluctuation of more than  $100 in price levels has been observed

The global crude oil price forecast predicts that crude oil prices are expected to decrease within 65–75 USD per barrel in the next 12 months. The report also covers the movement of crude oil across the globe, analyzing the total crude oil imports and exports. It examines the Porter's Five Force Analysis, elaborating factors such as buying power, supplier power, barriers to new entrants, the intensity of competition and threat of substitutes.

Beroe gathers oil market intelligence through primary sources that include industry experts, researchers, and consultants, as well as current suppliers, producers and distributors. Secondary sources can include business journals, newsletters, magazines, market research data, company sources, and industry associations. Following data collation, analysis, and strategic review, the Final Research Report is published on Beroe LiVE.

Table of contents

  1. Crude Oil Executive Summary
  2. Supply Market Outlook
  3. Demand Market Outlook
  1. Crude Oil: Supply and Demand
  2. Global Market Analysis
  3. Industry Outlook
  4. Maturity of Suppliers
  1. Crude Oil Historical Trend Analysis
  2. Crude Oil Price Historical
  3. Historical Events
  1. Oil Trade Movement globally
  2. Crude Oil Spread Analysis
  1. Crude Oil Forecasting Model Process
  2. Forecasting Process
  3. Forecasting Model - ARIMA
  1. Crude Oil Technical Analysis and Outlook
  2. Bollinger Band Analysis
  3. Crude Oil price forecast and outlook

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Crude Oil Global Market Outlook 

Crude oil market size

  • Global fuel oil supply stands at 92.7 Mbpd
  • Global fuel oil demand stands at 98.18 Mbpd
  • Demand is expected to increase at a CAGR of 1.8 percent until 2020

 crude-oil-global-market-size

Crude Oil Proved Reserves Globally 

  • The total proven crude oil reserves globally in 2018 was at 1729 thousand million barrels, which is an increase of 0.1 percent compared to 2016 reserves.
  • The OECD countries contributed about 14.3 percent of the total proven reserves globally, whereas non-OECD countries contributed about 85.7 percent

Distribution of Proved Crude Oil Reserves from 1995 to 2018 

  • The global proved oil reserves increased from 1.697 billion barrels in 2016 to 1.696 billion barrels in 2017
  • Reserves have increased by 22.9 percent, or 318 billion barrels, over the past decade and are sufficient to meet 50.7 years of the global production
  • Colombia recorded a decline, with proved reserves falling by 2.3 thousand million barrels, while Iraq proved reserves grew by 153 thousand million barrels
  • OPEC countries continue to hold the largest share (85.7 percent) of global proved reserves.
  • On a regional basis, South and Central American reserves have the highest R/P ratio of 119 years.

Per Capita Consumption of Oil in 2018

  • The highest per capita consumption in 2018 for crude oil was from NAM and the Middle East with over 2.5 tons/capita
  • Australia, Japan, and the Netherlands stood in the next level of per capita consumption, from 1.5 tons to 2.5 tons
  • Chile and Colombia stood at a higher rate of consumption per capital levels, at 1 ton to 1.5 tons in LATAM

Global Crude Oil Supply and Demand Analysis

Oil Market Analytics

  •  Supply–Demand: Global demand and supply growth have sustained above 100 million barrels with supply/demand reflecting stability. The implied surplus line issloping sideways further implying stability in the global market. However, the relative levels of surplus remain high and will weigh negatively on the crude oil prices.
  •  OPEC Supply: OPEC countries have extended the production cut deal to Mar-2020 and the decline in overall supplies is evident from OPEC. However, further compliance will require major challenges as Saudi Arabia would prefer higher oil prices to support Aramco IPO which can influence other oil producers to increase production as well on higher price levels.

US Oil Production sustain all-time high levels:

  •  US Production: The US crude oil production has stabilized around 12 mbpd with marginal decrease as rig counts continue to decline steadily. However, overall levels on a historical basis continue to remain significantly high.
  • US Inventories: The inventory levels declined to 450 million barrels post increasing to 480 million barrels reflecting short-term recovery in crude oil demand. The decline in inventory levels is expected to persist as prices hold relatively higher levels.
  • US Exports: The US crude oil exports have sustained 3.0 mbpd levels, but have witnessed decline in levels intermittently and hence reflects decline in external demand which can reflect negatively on oil prices in upcoming months.

Supply Market Outlook

North America

  • The US imports crude oil for their refineries from Canada and Mexico Europe
  • European oil imports originate from Russia, other FSU countries, the Middle East,and North Africa. APAC
  • India, China, Korea are the major demand centers of Crude Oil in Asia, which are the major driver of Crude Oil prices.

LATAM

  • Brazil, Chile, and Argentina have the highest demand in LATAM countries, they generally import from neighboring countries.

Africa

  •  Nigeria, Angola, Algeria, Egypt, and Libya are the major Crude oil producing countries in Africa.

Crude Oil Price History 

  • Crude oil was within $4/bbl until 1970 before witnessing a major increase during the period of 1970-1980 in terms of percentage change
  • Post consolidating within a range of $12-35/bbl from 1980-2000, crude oil prices established a new range of $20-140/bbl
  • The current decrease in price is expected to result in an unfolding a long-term consolidation in the range of 20-140 with price mostly fluctuating in the median of mentioned range in the upcoming years

Crude Oil Market Frequently Asked Questions

  1. What is the global supply and demand for the fuel oil market?
  2. The fuel oil supply and demand in the global market stand at 92.7 Mbpd and 98.18 Mbpd (Million Barrels per day) respectively. According to Beroe’s crude oil market report, the demand for fuel oil is expected to continue growing at a CAGR of 1.8 percent through 2022.
  1. What is the price trend for the global crude oil market?
  2. According to the crude oil market news by Beroe, it is anticipated that the crude oil prices will see a downward trend owing to the rise in supply and long-term hedging contracts.
  1. Who are the top global service providers for the crude oil market?
  2. Saudi Aramco, Sinopec, CNPC, PetroChina, Exxon Mobil, Shell, KPC, and BP are the top service providers for the global crude oil market.
  1. Which are the high and medium market regions for crude oil?
  2. The US, Canada, Australia, and Europe are the high market maturity regions, while Brazil, South Africa, India, and China are the medium market maturity regions for crude oil.
  1. What are the products that are prepared from crude oil?
  2. The following products can be prepared from crude oil – gasoline, gas oil, solvents, polymer, petroleum fuels, petcoke, lubricants, waxes, kerosene, asphalt, naptha, petrochemical, fuel oil.
  1. What market region had the highest per capita consumption of crude oil in 2018?
  2. In 2018, the highest per capita consumption of crude oil was from NAM and the Middle East with over 2.5 tons per capita followed by Australia, Japan, and the Netherland within the range of 1.5 tons to 2.5 tons per capita consumption.
  1. How much were the crude oil reserves across the globe in 2018?
  2. From the 2018 crude oil market analysis by Beroe, the total reserves of crude oil over the world were at 1729 thousand million barrels, marking an increase of 0.1 percent from the total reserves in 2016. About 85.7 percent of the contribution to the global reserves came from non-OECD countries while 14.3 percent of the total proven reserves were contributed by the OECD countries.
  1. How is the global supply and demand for crude oil?
  2. The supply and demand for crude oil in the global market has been stable and has sustained above 100 million barrels. The implied surplus line is sloping sideways and the high relative levels of the surplus will weigh negatively on the prices of crude oil.
  1. Which regions drive the major demand of the crude oil market in Asia?
  2. The major demand centers of crude oil in Asian market are India, China, and Korea. These regions are also the major driver of crude oil prices.
  1. From where do the US and European oil imports originate from?
  2. The US imports crude oil from Canada and Mexico, while the European oil imports come from Russia, other FSU countries, the Middle East, and North Africa.

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