Sizing Up: The Oil Market vs Top 10 Metal Markets Combined

By Govind Bhutada

The global physical oil market is astronomical in size and has a significant economic and geopolitical influence, with a few countries dominating global oil production.

The above infographic puts crude oil’s market size into perspective by comparing it to the 10 largest metal markets combined. To calculate market sizes, we used the latest price multiplied by global production in 2022, based on data from TradingEconomics and the United States Geological Survey (USGS).