Petroleum Market in the United States
In value terms, petroleum production dropped to $ in . Overall, production continues to indicate a drastic downturn. The pace of growth appeared the most rapid in 2017 when the production volume increased by %. Petroleum production peaked at $ in 2013; however, from 2014 to , production failed to regain momentum.
The revenue of the petroleum market in the United States shrank to $ in , dropping 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). Overall, consumption recorded a drastic downturn. Petroleum consumption peaked at $ in 2013; however, from 2014 to , consumption stood at a somewhat lower figure.