Oil industry includes operations, such as exploration, production, refining, and transportation, and marketing of petroleum and crude products. There is a considerable dependency on the oil production globally coupled with the growth in the transportation sector and increasing global energy demand. As a result, global economies continuously invest in petroleum-based products. In 2018, the aviation sector has witnessed potential growth coupled with the increasing demand for air transportation since 2000. Both passenger and freight aviation has reported enormous potential in 2018.
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As per the International Energy Agency (IEA), in 2018, the total number of air passengers reached a record of 4.3 billion, increased from 4 billion in 2017. The availability of low-cost airlines and growth in the tourism sector were some crucial factors attributed to the positive growth of the aviation industry, which in turn, has led the demand for oil in the aviation sector. However, in 2020, the global demand for oil has declined sharply owing to the epidemic of coronavirus. Due to the COVID-19 outbreak, the government across the globe has stopped or reduced international travelling, which results in less consumption of kerosene oil.
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- Market Coverage
- Market number available for – 2025-2031
- Base year- 2025
- Forecast period- 2025-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Segmentation
- Production
- Onshore
- Offshore
Impact of COVID-19 on major economies
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
Company Profile
- BP p.l.c.
- Chevron Corp.
- China National Offshore Oil Corp. (CNOOC Group)
- China National Petroleum Corp. (CNPC)
- ConocoPhillips Co.
- Equinor ASA
- ExxonMobil Corp.
- PJSC LUKOIL
- PJSC Rosneft Oil Co.
- Saudi Arabian Oil Co. (Saudi Aramco)
- Royal Dutch Shell PLC
The Report Covers
- Comprehensive research methodology of the global oil industry.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global oil industry.
- Insights about market determinants which are stimulating the global oil industry.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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