Petroleum Market Overview in the USA
In value terms, petroleum production fell to $ in 2019. Overall, production recorded a deep slump. The most prominent rate of growth was recorded in 2014 when the production volume decreased by -% year-to-year. Over the period under review, production reached the peak level at $ in 2013; however, from 2014 to 2019, production stood at a somewhat lower figure.
The value of the petroleum market in the U.S. shrank to $ in 2019, reducing by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption faced a abrupt decline. The growth pace was the most rapid in 2014 with a decrease of -% against the previous year. Over the period under review, the market attained the peak level at $ in 2013; however, from 2014 to 2019, consumption stood at a somewhat lower figure.