Australia - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingCrude Oil Price in Australia - 2023
Contents:
- Crude Oil Price in Australia (FOB) - 2023
- Crude Oil Price in Australia (CIF) - 2023
- Crude Oil Exports in Australia
- Crude Oil Imports in Australia
Crude Oil Price in Australia (FOB) - 2023
The average crude oil export price stood at $534 per ton in August 2023, picking up by 8.4% against the previous month. Over the last seven months, it increased at an average monthly rate of +1.6%. The growth pace was the most rapid in February 2023 when the average export price increased by 8.5% m-o-m. Over the period under review, the average export prices attained the maximum at $546 per ton in April 2023; however, from May 2023 to August 2023, the export prices stood at a somewhat lower figure.
Average prices varied somewhat for the major foreign markets. In August 2023, the countries with the highest prices were South Korea ($587 per ton) and Malaysia ($580 per ton), while the average price for exports to Brunei Darussalam ($465 per ton) and China ($507 per ton) were amongst the lowest.
From January 2023 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.
Crude Oil Price in Australia (CIF) - 2023
In August 2023, the average crude oil import price amounted to $563 per ton, therefore, remained relatively stable against the previous month. In general, the import price continues to indicate a perceptible descent. The most prominent rate of growth was recorded in April 2023 an increase of 7.3% month-to-month. The import price peaked at $737 per ton in August 2022; however, from September 2022 to August 2023, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In August 2023, the countries with the highest prices were Malaysia ($575 per ton) and Vietnam ($570 per ton), while the price for New Zealand ($470 per ton) and Libya ($537 per ton) were amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Algeria (-1.9%), while the prices for the other major suppliers experienced a decline.
Crude Oil Exports in Australia
Crude oil exports from Australia contracted to 15M tons in 2022, shrinking by -4.1% compared with 2021 figures. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 63% against the previous year. As a result, the exports reached the peak of 16M tons, and then declined slightly in the following year.
In value terms, crude oil exports surged to $10.1B in 2022. Over the period under review, exports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by 156%. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Crude Oil in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 276 | 87.5 | 555 | N/A | 41.8% |
| Thailand | 324 | 240 | 252 | N/A | -11.8% |
| China | 697 | 298 | 75.0 | N/A | -67.2% |
| Malaysia | 946 | 378 | 458 | N/A | -30.4% |
| Japan | 76.0 | 41.7 | 114 | N/A | 22.5% |
| Papua New Guinea | 125 | 73.5 | N/A | N/A | -41.2% |
| Brunei Darussalam | N/A | 59.2 | 319 | N/A | 438.9% |
| Indonesia | 432 | 381 | 526 | N/A | 10.3% |
| United Arab Emirates | 222 | 62.7 | 75.7 | N/A | -41.6% |
| Singapore | 1,099 | 671 | 2,125 | N/A | 39.1% |
| Others | 2,370 | 683 | 3,108 | 10,054 | 61.9% |
| Total | 6,566 | 2,975 | 7,607 | 10,054 | 15.3% |
Top Export Markets for Crude Oil from Australia in 2022:
Crude Oil Imports in Australia
For the third year in a row, Australia recorded decline in supplies from abroad of crude petroleum oil, which decreased by -15.5% to 10M tons in 2022. Over the period under review, imports continue to indicate a dramatic decline.
In value terms, crude oil imports surged to $7.3B in 2022. In general, imports saw a deep downturn.
| Import of Crude Oil in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 2,486 | 1,550 | 2,376 | 2,448 | -0.5% |
| Brunei Darussalam | 917 | 272 | 680 | 1,123 | 7.0% |
| United States | 1,136 | 827 | 343 | 988 | -4.5% |
| Libya | 420 | 42.9 | 276 | 529 | 8.0% |
| Vietnam | 163 | 196 | 298 | 512 | 46.5% |
| Nigeria | 362 | 236 | 80.7 | 270 | -9.3% |
| Algeria | 723 | 133 | 130 | 252 | -29.6% |
| United Arab Emirates | N/A | N/A | N/A | 252 | 0% |
| Azerbaijan | N/A | 127 | 42.4 | 252 | 40.9% |
| Russia | 154 | 20.5 | 46.3 | 249 | 17.4% |
| New Zealand | 423 | 188 | 335 | 222 | -19.3% |
| Indonesia | 494 | 150 | 283 | 147 | -33.2% |
| Singapore | 845 | 617 | 236 | N/A | -47.2% |
| Others | 589 | 334 | 426 | 93.1 | -45.9% |
| Total | 8,712 | 4,693 | 5,553 | 7,337 | -5.6% |
Top Suppliers of Crude Oil to Australia in 2022:
- Malaysia (3353.9K tons)
- Brunei Darussalam (1511.9K tons)
- United States (1368.9K tons)
- Libya (755.9K tons)
- Vietnam (679.7K tons)
- Russia (408.6K tons)
- Nigeria (356.8K tons)
- United Arab Emirates (348.6K tons)
- New Zealand (338.1K tons)
- Azerbaijan (336.3K tons)
- Algeria (316.2K tons)
- Indonesia (211.7K tons)
This report provides an in-depth analysis of the crude oil market in Australia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
Country coverage:
- Australia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Australia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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This report provides an in-depth analysis of the crude oil market in Australia.
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This report provides an in-depth analysis of the market for crude oil and processed petroleum in Australia.
409
This report provides an in-depth analysis of the global crude oil market.
134
This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
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This report provides an in-depth analysis of the crude oil market in Australia.
103
This report provides an in-depth analysis of the market for crude oil and processed petroleum in Australia.
409
This report provides an in-depth analysis of the global crude oil market.
134
This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
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Explore the top import markets for crude oil and examine key statistics related to their import value. China, the United States, and India lead the pack.
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Explore the top import markets for crude oil and examine key statistics related to their import value. China, the United States, and India lead the pack.
