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Growth of Fuel Oil Market to be Impacted by Adoption of Blockchain for Oil and Gas Industry | Technavio

The market will decelerate at a CAGR of 1% between 2019-2023

LONDON–(BUSINESS WIRE)–#energy–The report, global fuel oil market has been added to Technavio’s catalog. It provides a comprehensive analysis of the market, including its global and regional market share as well as market segmentation based on application and geography for the forecast period 2019-2023.

To learn more about the global trends impacting the future of market research: Download Free Sample Report

This report on the fuel oil market includes:

Fuel oil market analysis and forecast 2019-2023: Features

  • Competitive landscape
  • Market segmentation
  • Market drivers
  • Market trends
  • Market challenges
  • Five forces analysis
  • Market landscape
  • Market sizing & forecast

Fuel oil Market 2019-2023: Competitive Landscape

  • Vendors covered
  • Vendor classification

    • Chevron Corp.
    • Exxon Mobil Corp.
    • National Iranian Oil Products Distribution Co.
    • PJSC Gazprom
    • Qatar Petroleum
    • Royal Dutch Shell Plc

Fuel Oil Market 2019-2023: Geographic Landscape

  • APAC – Market size and forecast 2018-2023
  • Europe – Market size and forecast 2018-2023
  • North America – Market size and forecast 2018-2023
  • MEA – Market size and forecast 2018-2023
  • South America – Market size and forecast 2018-2023

Fuel Oil Market 2019-2023: Application

  • Marine – Market size and forecast 2018-2023
  • Industrial – Market size and forecast 2018-2023
  • Others – Market size and forecast 2018-2023

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Rise in global energy demand will drive the fuel oil market

The global energy demand has increased significantly over the years due to the strong growth of economic activities. Moreover, the demand for fuel from the transportation, residential, and commercial sectors is expected to grow exponentially, particularly in emerging economies such as China and India. This growth can be attributed to the growing transportation sector in major economies, where SUVs and trucks are taking up a major share of the automotive market. Thus, the increasing demand for energy will drive the fuel oil market growth during the forecast period.

Adoption of blockchain for oil and gas industry – An emerging trend in the fuel oil market

The growing adoption of blockchain in the oil and gas industry is identified as one of the key fuel oil market trends that will drive the market growth. The adoption of blockchain helps in overcoming various issues including the high fuel prices, environmental pollution, and complexity of logistics. Blockchain platforms facilitate secure and faster transactions between entities. Blockchain also helps in reducing cash cycle time and intermediary costs.

Other Key Topics Covered in the Report are:

MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

MARKET SIZING

  • Market definition
  • Market sizing 2018
  • Market size and forecast 2018-2023

Get Full Report: https://www.technavio.com/report/global-fuel-oil-market-industry-analysis

CUSTOMER LANDSCAPE

DECISION FRAMEWORK

DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

Market Trends

  • Requirement of new refinery based on IMO regulations
  • Growth in global seaborne trade
  • Adoption of blockchain for oil and gas industry

Technavio also offers Custom Research services providing focused, comprehensive, and tailored research.

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Media & Marketing Executive

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UK: +44 203 893 3200

Email: [email protected]

Business Wire , 2019-11-20 23:02:19 ,

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While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock


Nick Chong , 2019-11-10 12:00:38

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