Oil and Gas Market Summary, Competitive Analysis and Forecast to 2027

Oil and Gas Market Summary, Competitive Analysis and Forecast to 2027

Summary

Global Oil & Gas industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2018-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

The oil and gas market volume is defined as the total consumption (barrels of oil equivalent) of refined petroleum products and natural gas by end-users in each country. The value of the oil segment reflects the total volume of refined petroleum products, including refinery consumption and losses, multiplied by the hub price of crude oil. The value of the gas segment is calculated as the total volume of natural gas consumed multiplied by the price of natural gas (Henry Hub spot price). The values represent the total revenues available to exploration and production companies from sales of crude oil and natural gas. All market data and forecasts are represented in nominal terms (i.e., without adjustment for inflation) and all currency conversions used in the creation of this report have been calculated using constant 2022 annual average exchange rates.

The length of the pandemic and restrictions introduced by various countries are still difficult to predict, though many governments had introduced the national lockdowns and temporarily banned sales of products that are deemed “non-essential”. As the length of the pandemic and its impact on this market is not certain, the data used in this report has been modelled on the assumption of a crisis scenario and has taken into consideration forecast impacts on national economics. Also, crude-oil and natural gas sanctions on Russia by various countries due to Russia-Ukraine war is also accounted, which would impact in short-to-mid-term high volatility in oil prices and demands across regions.

The global oil & gas market had total revenues of $7,170.4 billion in 2022, representing a compound annual growth rate (CAGR) of 8.4% between 2017 and 2022.

Market consumption volume increased with a CAGR of 0.9% between 2017 and 2022, reaching a total of 50.4 billion BoE in 2022.

The oil and gas market has massively fluctuated in recent years amid the increased volatility of oil and gas prices. For instance, according to the World Bank, the average price of Brent, WTI, and Dubai crude oils stood at $82.46 per barrel in April 2023, up from $76.47 per barrel in the previous month.

Scope

• Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the global oil & gas market
• Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the global oil & gas market
• Leading company profiles reveal details of key oil & gas market players’ global operations and financial performance
• Add weight to presentations and pitches by understanding the future growth prospects of the global oil & gas market with five year forecasts by both value and volume

Reasons to Buy

• What was the size of the global oil & gas market by value in 2022?
• What will be the size of the global oil & gas market in 2027?
• What factors are affecting the strength of competition in the global oil & gas market?
• How has the market performed over the last five years?
• What are the main segments that make up the global oil & gas market?