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Oil And Gas Market Overview And Development Analysis By 2031: In-Depth Analysis Of Key Players - Royal Dutch Shell, BP plc, Saudi Aramco, Exxon Mobil
Oil And Gas Market
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The global oil and gas market report by the business research company identifies the low interest rates in most developed countries to be a major growth driver for the oil and gas market. For instance, in 2019, the European Central Bank decreased interest rates to -0.5% on deposits from banks to encourage lending. This created a flow of cheap money for investment, both in developed and developing economies. It also encouraged borrowing and discouraged saving in advanced markets, helping to drive spending. Oil and gas companies were able to borrow more money for process improvements and expansion projects, thus driving the market during this period.
The global oil and gas market grew from $6,098.98 billion in 2021 to $7,107.49 billion in 2022 at a compound annual growth rate (CAGR) of 16.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The oil and gas market is expected to grow to $9,125.87 billion in 2026 at a CAGR of 6.4%.
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Asia Pacific was the largest region in the oil and gas market in 2021. North America was the second largest region in the oil and gas market. The regions covered in the oil and gas market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major players in the oil and gas market are Royal Dutch Shell, BP plc, Saudi Aramco, Exxon Mobil, Gazprom PAO, Chevron, Iraq Ministry of Oil, PJSC Lukoil, Total SA, and Rosneft.
The global oil and gas market is segmented -
1) By Type: Oil & Gas Upstream Activities, Oil Downstream Products
2) By Drilling Type: Offshore, Onshore
3) By Application: Residential, Commercial, Institutions, Others
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The Oil and Gas Market Report Contents Include
1. Executive Summary
2. Report Structure
3. Oil And Gas Market Characteristics
4. Oil And Gas Market Product Analysis
5. Oil And Gas Market Supply Chain
...........
21. Oil And Gas Market Competitive Landscape
22. Key Mergers And Acquisitions In The Oil And Gas Market
23. Recommendations
24. Appendix
25. Copyright And Disclaimer
This report covers the trends and market dynamics of the oil and gas market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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