Market Analysis Open Access

Market Analysis for Petroleum 2020

Abstract

There are different kind of energy source we are generating and using on daily basis. But oil is one of the major usage for transportation in energy sector grow of population demands oil production, over 68% of transport is running by Oil in USA. Nearly 8.25 billion barrels of petroleum products are consumed with the average of 20.96 million barrels per day. By their port from the BP analysis there is enough oil for next 53 years from the current oil production.   In 2019 survey China and USA is the largest oil producing countries in the world in which they are producing 13.4% and 13.8% of oil production throughout the world and oil production in Saudi Arabia then Russia, Canada, Malaysia, Singapore. In 2019 approximately 99 million barrels of oil are demand per day. The U.S. transportation sector consumes about 224 billion gallons of liquid hydrocarbon fuel per year. Major Advanced Petroleum Industries Around the Globe

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Franz Meyer