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Petroleum Refining in Oklahoma

Author.Name IBISWorld United States Last Updated: August 2025 NAICS OK32411

Petroleum Refining in Oklahoma industry analysis

The Petroleum Refining industry in Oklahoma is expected to grow an annualized x.x% to $x.x billion over the five years to 2025, while the national industry will likely grow at x.x% during the same period. Industry establishments decreased an annualized -x.x% to x locations. Industry employment has decreased an annualized -x.x% to x,xxx workers, while industry wages have decreased an annualized -x.x% to $x.x million.

Over the five years to 2030, the industry is expected to grow an annualized x.x% to $x.x billion, while the national industry is expected to grow x.x%. Industry establishments are forecast to stagnate x% to x locations. Industry employment is expected to decrease an annualized -x.x% to x,xxx workers, while industry wages are forecast to decrease -x% to $x.x million.

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About the Petroleum Refining in Oklahoma Market Research Report

What’s Included in the Petroleum Refining in Oklahoma Market Research Report

Definition of the Petroleum Refining in Oklahoma?

Industry operators refine crude oil into petroleum products. Petroleum refining involves one or more of activities including fractionation, straight distillation of crude oil and cracking. This industry does not include companies that extract crude oil or retail gasoline.

What’s included in the Petroleum Refining in Oklahoma?

The Petroleum Refining in Oklahoma includes gasoline production, kerosene production, distillate fuel oil (diesel fuel) production, aviation fuel production, residual fuel oil production, lubricant production and producing aliphatic and aromatic chemicals as byproducts. Related terms covered in the Petroleum Refining in Oklahoma industry report includes light liquid petroleum product typically used as a fuel for internal combustion engines, midrange petroleum product with a higher boiling point than gasoline, typically used as a fuel for internal combustion engines, particularly for larger vehicles, primary crude oil refining unit, which includes a pipe still for vaporizing the crude oil and a fractionation tower for separating it into fractions with different boiling ranges, difference between the value of all the refined petroleum products a refinery is able to produce from a given quantity of crude oil and its cost, a form of alcohol used as a fuel, which is primarily made from grains such as corn and soybeans. it is considered to be a renewable fuel with fewer pollutants, a unit of measure for petroleum products. it is equal to 42.0 us gallons and a commodities or securities market in which goods are sold for cash and delivered immediately. contracts bought and sold on these markets are immediately effective.

Industry Performance of the Petroleum Refining industry in Oklahoma

Benchmark the Petroleum Refining in Oklahoma industry performance with all OK county and national performance.

Petroleum Refining in Oklahoma

#8 in Highest Revenue 2.3% of state's GDP
Revenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)

Petroleum Refining in the US


Revenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)

For the full list of industry drivers, see report purchase options.

Key Drivers of the Petroleum Refining industry in Oklahoma

See how key industry drivers, such as population, gross state product, per capita disposable income, world price of crude oil, demand from gasoline and petroleum bulk stations and total vehicle miles are impacting Petroleum Refining in Oklahoma

Oklahoma Economic Indicators

Population
Gross State Product
Per Capita Disposable Income

View more economic information in OK State Economic profile

US Key External Drivers

World price of crude oil
Demand from gasoline and petroleum bulk stations
Total vehicle miles

For the full list of industry drivers, see report purchase options.

County Data of the Petroleum Refining industry in Oklahoma

Access proprietary data on county in the Petroleum Refining in Oklahoma, such as Tulsa County, Oklahoma County and Rogers County. Data includes figures on revenue, establishments, employees and wages by counties.

Key Statistics of the Petroleum Refining industry in Oklahoma

Download 18 years of historical data and 5 years of projected performance.

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Top Questions Answered in this Report

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What is the market size of the Petroleum Refining industry in Oklahoma in 2025?

The market size of the Petroleum Refining industry in Oklahoma is $19.3bn in 2025.

How many businesses are there in the Petroleum Refining industry in Oklahoma in 2025?

There are 3 businesses in the Petroleum Refining industry in Oklahoma, which has been declining at an average annual rate of -5.6% from 2020 to 2025.

Has the Petroleum Refining industry in Oklahoma grown or declined over the past 5 years?

The market size of the Petroleum Refining industry in Oklahoma has been growing at an average annual rate of 16.3% from 2020 to 2025.

How many employees in the Petroleum Refining industry in Oklahoma in 2025?

There are 1,458 employees in the Petroleum Refining industry in Oklahoma, which has been declining at an average annual rate of -4.9% from 2020 to 2025.