The market is dominated by domestic suppliers, as imports account for 49.0% of total market size in 2023. B2B drives market demand, with B2B spending representing 100.0% of total demand in 2023. The US has the largest market size for extraction of crude petroleum and natural gas across the top 20 developed countries, with demand reaching USD595 billion in 2023. BP Plc is the largest company in the US, generating 15.0% of the industry’s total production value in 2023. The industry is fragmented, with the top five companies generating 31.0% of total production value in 2023. The total number of companies decreases in 2023, to 25,118 units. The costs of the industry decrease by 10.3% in 2023, largely driven by declining B2B costs. The industry’s profitability decreases and stands at 44.6% of production value in 2023, the 12th highest across the top 20 developed countries. The industry’s exports share increases in 2023 to 27.3% of total production output. With production value of USD367 billion, the US accounts for 68.5% of the North America total in 2023.
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This Euromonitor industrial report provides unique information on Extraction of Crude Petroleum and Natural Gas in the US: ISIC 11. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Extraction of Crude Petroleum and Natural Gas in the US: ISIC 11 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
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