Colombia - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingCrude Oil Price in Colombia - 2022
Contents:
- Crude Oil Price in Colombia (FOB) - 2022
- Crude Oil Price in Colombia (CIF) - 2022
- Crude Oil Exports in Colombia
- Crude Oil Imports in Colombia
Crude Oil Price in Colombia (FOB) - 2022
The average crude oil export price stood at $584 per ton in February 2022, surging by 9.4% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +3.4%. The growth pace was the most rapid in September 2021 when the average export price increased by 13% against the previous month. Over the period under review, the average export prices reached the maximum in February 2022.
Average prices varied noticeably for the major external markets. In February 2022, the highest price was recorded for prices to China ($590 per ton) and Brunei Darussalam ($589 per ton), while the average price for exports to the United States ($581 per ton) and Panama ($583 per ton) were amongst the lowest.
From February 2021 to February 2022, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.
Crude Oil Price in Colombia (CIF) - 2022
In 2022, the average crude oil import price amounted to $433 per ton, reducing by -11.1% against the previous year. In general, the import price saw a abrupt setback. The most prominent rate of growth was recorded in 2017 when the average import price increased by 24% against the previous year. The import price peaked at $1,389 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($438 per ton), while the price for Panama totaled $205 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+3.1%), while the prices for the other major suppliers experienced mixed trend patterns.
Crude Oil Exports in Colombia
After two years of decline, shipments abroad of crude petroleum oil increased by 8.6% to 27M tons in 2022. In general, exports, however, continue to indicate a abrupt shrinkage.
In value terms, crude oil exports reduced rapidly to $9.2B in 2022. Over the period under review, exports, however, faced a abrupt downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 57% against the previous year.
| Export of Crude Oil in Colombia (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 4.9 | 2.7 | 3.3 | 2.9 | -16.0% |
| China | 3.9 | 2.2 | 2.6 | 2.3 | -16.1% |
| Panama | 1.9 | 1.1 | 1.9 | 1.6 | -5.6% |
| India | 0.1 | 0.4 | 1.9 | 1.6 | 152.0% |
| Saint Lucia | 0.9 | 0.3 | 0.2 | 0.4 | -23.7% |
| Netherlands | 0.4 | N/A | 0.1 | 0.1 | -37.0% |
| Ecuador | 0.3 | 0.1 | 0.1 | 0.1 | -30.7% |
| Others | 0.7 | 0.4 | 1.0 | 0.2 | -34.1% |
| Total | 13.0 | 7.1 | 11.2 | 9.2 | -10.9% |
Top Export Markets for Crude Oil from Colombia in 2022:
- United States (9.1M tons)
- China (7.6M tons)
- Panama (3.9M tons)
- India (3.9M tons)
- Saint Lucia (1.1M tons)
- Netherlands (0.4M tons)
- Ecuador (0.4M tons)
Crude Oil Imports in Colombia
In 2022, the amount of crude petroleum oil imported into Colombia declined notably to 202K tons, which is down by -34.3% compared with 2021. Overall, imports showed a deep contraction. The pace of growth appeared the most rapid in 2021 with an increase of 469%. As a result, imports attained the peak of 308K tons, and then shrank markedly in the following year.
In value terms, crude oil imports fell dramatically to $87M in 2022. In general, imports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2021 when imports increased by 498%. As a result, imports attained the peak of $150M, and then declined remarkably in the following year.
| Import of Crude Oil in Colombia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 146 | 23.0 | 56.4 | 86.3 | -16.1% |
| Panama | 0.5 | 1.9 | 0.3 | 1.0 | 26.0% |
| Trinidad and Tobago | N/A | N/A | 92.9 | N/A | 0% |
| Others | 1.6 | 0.2 | N/A | N/A | -87.5% |
| Total | 148 | 25.0 | 150 | 87.3 | -16.1% |
Top Suppliers of Crude Oil to Colombia in 2022:
- United States (196.9K tons)
- Panama (5.1K tons)
This report provides an in-depth analysis of the crude oil market in Colombia. 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:
- Colombia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Colombia
- 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 Colombia.
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This report provides an in-depth analysis of the market for crude oil and processed petroleum in Colombia.
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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.
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This report provides an in-depth analysis of the crude oil market in Colombia.
131
This report provides an in-depth analysis of the market for crude oil and processed petroleum in Colombia.
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.
