Azerbaijan - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingCrude Oil Price in Azerbaijan - 2023
Contents:
- Crude Oil Price in Azerbaijan (FOB) - 2023
- Crude Oil Price in Azerbaijan (CIF) - 2023
- Crude Oil Exports in Azerbaijan
- Crude Oil Imports in Azerbaijan
Crude Oil Price in Azerbaijan (FOB) - 2023
The average crude oil export price stood at $605 per ton in July 2023, increasing by 11% against the previous month. Overall, the export price, however, showed a pronounced slump. The export price peaked at $868 per ton in July 2022; however, from August 2022 to July 2023, the export prices remained at a lower figure.
Average prices varied somewhat for the major export markets. In July 2023, the countries with the highest prices were Italy ($676 per ton) and Greece ($590 per ton), while the average price for exports to the Czech Republic ($470 per ton) and Croatia ($549 per ton) were amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Israel (+0.6%), while the prices for the other major destinations experienced a decline.
Crude Oil Price in Azerbaijan (CIF) - 2023
The average crude oil import price stood at $546 per ton in July 2023, increasing by 6.8% against the previous month. Overall, the import price, however, saw a perceptible decline. The most prominent rate of growth was recorded in August 2022 when the average import price increased by 18% m-o-m. As a result, import price attained the peak level of $871 per ton. From September 2022 to July 2023, the average import prices remained at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for Turkmenistan.
From July 2022 to July 2023, the rate of growth in terms of prices for Russia amounted to -3.5% per month.
Crude Oil Exports in Azerbaijan
Crude oil exports from Azerbaijan declined modestly to 26M tons in 2022, shrinking by -3.9% compared with the year before. Overall, exports continue to indicate a deep contraction. The smallest decline of -1.7% was in 2021.
In value terms, crude oil exports surged to $19.5B in 2022. Over the period under review, exports, however, enjoyed a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Crude Oil in Azerbaijan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 5,537 | 4,121 | 6,065 | 6,641 | 6.2% |
| Israel | 1,328 | 434 | 888 | 1,672 | 8.0% |
| India | 953 | 453 | 584 | 1,625 | 19.5% |
| Spain | 702 | 328 | 553 | 999 | 12.5% |
| Croatia | 436 | 471 | 751 | 952 | 29.7% |
| Czech Republic | 646 | 218 | 261 | 920 | 12.5% |
| United Kingdom | 436 | 141 | 369 | 753 | 20.0% |
| Portugal | 353 | 240 | 587 | 743 | 28.2% |
| Indonesia | N/A | N/A | 87.1 | 606 | 595.8% |
| Germany | 906 | 213 | 628 | 564 | -14.6% |
| Turkey | 417 | 225 | 332 | 502 | 6.4% |
| Tunisia | N/A | 312 | 506 | 499 | 26.5% |
| Vietnam | 57.1 | 174 | 72.7 | 491 | 104.9% |
| Others | 3,043 | 2,033 | 1,536 | 2,517 | -6.1% |
| Total | 14,814 | 9,364 | 13,219 | 19,484 | 9.6% |
Top Export Markets for Crude Oil from Azerbaijan in 2022:
- Italy (8.9M tons)
- Israel (2.3M tons)
- India (2.0M tons)
- Spain (1.4M tons)
- Czech Republic (1.2M tons)
- Croatia (1.2M tons)
- Portugal (1.0M tons)
- United Kingdom (0.9M tons)
- Turkey (0.8M tons)
- Indonesia (0.8M tons)
- Germany (0.8M tons)
- Tunisia (0.7M tons)
- Vietnam (0.6M tons)
Crude Oil Imports in Azerbaijan
In 2022, supplies from abroad of crude petroleum oil was finally on the rise to reach 673K tons after two years of decline. In general, imports continue to indicate prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, crude oil imports skyrocketed to $451M in 2022. Over the period under review, imports posted significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Crude Oil in Azerbaijan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Turkmenistan | 43.7 | 58.7 | 52.5 | 245 | 77.6% |
| Russia | 147 | N/A | N/A | 131 | -3.8% |
| Kazakhstan | N/A | N/A | N/A | 74.4 | 0% |
| Others | 1.1 | N/A | N/A | N/A | 0% |
| Total | 191 | 58.7 | 52.5 | 451 | 33.2% |
Top Suppliers of Crude Oil to Azerbaijan in 2022:
- Turkmenistan (352.7K tons)
- Russia (199.6K tons)
- Kazakhstan (121.0K tons)
This report provides an in-depth analysis of the crude oil market in Azerbaijan. 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:
- Azerbaijan
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Azerbaijan
- 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
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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 Azerbaijan.
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This report provides an in-depth analysis of the market for crude oil and processed petroleum in Azerbaijan.
405
This report provides an in-depth analysis of the global crude oil market.
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This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
253
This report provides an in-depth analysis of the crude oil market in Azerbaijan.
83
This report provides an in-depth analysis of the market for crude oil and processed petroleum in Azerbaijan.
405
This report provides an in-depth analysis of the global crude oil market.
130
This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
504
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.
504
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.
