Hydrocarbons & Petroleum Products · Direct
Monitoring · monthlyProcurement Category Intelligence
Crude Oil - OPEC Basket
Overview
Market size
$2.10T
global, USD
CAGR
2.8%
base to forecast
Buyer power
-2.4
supplier-favoured
Suppliers
10
tracked players
Signals
12
5 high severity
Market outlook
2031$2.41T
What changed
Demand by region
Asia Pacific demand42%
North America demand24%
Europe demand15%
Middle East & Africa demand10%
Rest of world demand9%
share of global demandtotal 100%
Cost drivers
Upstream Extraction and Production Capital45%
Government Royalties and Fiscal Levies30%
Maritime Transport and Logistics15%
Refining Diet Optimization and Post-Extraction Processing10%
share of delivered cost (analyst estimate)