Petroleum Market Overview in the USA
In value terms, petroleum production shrank slightly to $ in . Overall, production recorded a noticeable contraction. The pace of growth was the most pronounced in 2017 when the production volume increased by % y-o-y. Over the period under review, production hit record highs at $ in 2013; however, from 2014 to , production stood at a somewhat lower figure.
The value of the petroleum market in the U.S. dropped slightly to $ in , 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). Over the period under review, consumption continues to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2017 with an increase of % year-to-year. Petroleum consumption peaked at $ in 2013; however, from 2014 to , consumption failed to regain the momentum.