Petroleum Market Overview in the USA
In value terms, petroleum production stood at $ in 2018. Over the period under review, petroleum production continues to indicate a drastic deduction. The pace of growth was the most pronounced in 2014 with a decrease of -% y-o-y. Over the period under review, petroleum production attained its maximum 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. amounted to $ in 2018, falling 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, petroleum consumption continues to indicate a sharp contraction. The pace of growth was the most pronounced in 2014 when the market value decreased by -% y-o-y. Petroleum consumption peaked at $ in 2013; however, from 2014 to 2018, consumption stood at a somewhat lower figure.