PUBLISHER: MarketLine | PRODUCT CODE: 1998620
PUBLISHER: MarketLine | PRODUCT CODE: 1998620
Global Oil & Gas industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume , and forecast to 2030). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
The oil & gas market volume is defined as the total consumption (barrels of oil equivalent) of refined petroleum products and natural gas in each country in a specific year. The value of the oil segment is calculated by multiplying the total volume of refined petroleum products, including refinery consumption and losses, by the average retail price of gasoline and diesel taken together. The value of the gas segment is calculated as the total volume of natural gas consumed multiplied by the retail price of natural gas.
All market data and forecasts are based on nominal prices, and all currency conversions used in the creation of this report have been calculated using yearly average exchange rates. The USD values may show a declining trend for a few countries, such as Argentina, Turkey, Nigeria, Egypt, and Russia. This is primarily because of the impact of exchange rates considered.
The global oil & gas market recorded a revenue of $6,227.7 billion in 2025, and the value increased with a CAGR of 5.3% between 2020 and 2025.
Market consumption volume increased with a CAGR of 1.4% between 2020 and 2025, reaching a total of 52,707.0 million BoE in 2025.
In 2025, the consumption of the global oil & gas market volume witnessed an annual growth 1.6%. The growth was driven by an increase in external trade. For instance, according to the World Trade Organization (WTO), the US total external exports and imports reached $3,331.2 billion and $4,283.1 billion, up 4.6% and 4.4% form 2024.