Petroleum Market Overview in the USA
In value terms, petroleum production reduced to $ in 2018. Over the period under review, production showed a abrupt curtailment. The most prominent rate of growth was recorded in 2014 with a decrease of -% against the previous year. Over the period under review, production reached the peak level at $ in 2013; however, from 2014 to 2018, production stood at a somewhat lower figure.
The revenue of the petroleum market in the U.S. declined markedly to $ in 2018, 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). In general, consumption faced a precipitous setback. The pace of growth appeared the most rapid in 2014 with a decrease of -% year-to-year. Petroleum consumption peaked at $ in 2013; however, from 2014 to 2018, consumption remained at a lower figure.