Revenue for the Petroleum Refining industry has been volatile in the five years to 2018. Crude oil prices are the primary driver of industry revenue because the price of petroleum products matches trends in crude oil prices. Revenue during the current period reflected volatility in the price of crude oil. The net effect of fluctuating crude oil prices on industry product prices has resulted in industry revenue falling over the five years to 2018. Over the five years to 2023, industry revenue is projected to rise. An expanding domestic economy will prompt increased consumer spending, new car sales and overall manufacturing output.
This industry refines crude petroleum through cracking and distillation to produce gasoline, diesel fuels and other fuel oils.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.