Finland - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingCrude Oil Price in Finland - 2023
Contents:
- Crude Oil Price in Finland (CIF) - 2023
- Crude Oil Price in Finland (FOB) - 2022
- Crude Oil Imports in Finland
- Crude Oil Exports in Finland
Crude Oil Price in Finland (CIF) - 2023
In July 2023, the average crude oil import price amounted to $613 per ton, with an increase of 4.8% against the previous month. Overall, the import price, however, continues to indicate a slight descent. The growth pace was the most rapid in April 2023 an increase of 14% month-to-month. The import price peaked at $742 per ton in August 2022; however, from September 2022 to July 2023, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In July 2023, the country with the highest price was Norway ($614 per ton), while the price for the UK stood at $609 per ton.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Russia (0.0%), while the prices for the other major suppliers experienced a decline.
Crude Oil Price in Finland (FOB) - 2022
The average crude oil export price stood at $23,063 per ton in 2022, declining by -63.5% against the previous year. Over the period under review, the export price, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2021 when the average export price increased by 2,397%. As a result, the export price attained the peak level of $63,182 per ton, and then dropped notably in the following year.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($42,000 per ton), while the average price for exports to the UK ($1,000 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+304.3%), while the prices for the other major destinations experienced more modest paces of growth.
Crude Oil Imports in Finland
In 2022, after two years of decline, there was significant growth in purchases abroad of crude petroleum oil, when their volume increased by 12% to 9.4M tons. Overall, imports, however, showed a drastic downturn.
In value terms, crude oil imports soared to $7.3B in 2022. In general, imports posted a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Crude Oil in Finland (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Norway | 0.7 | 0.6 | 0.8 | 5.2 | 95.1% |
| Russia | 5.1 | 2.7 | 3.4 | 1.0 | -41.9% |
| United Kingdom | N/A | 0.1 | N/A | 0.6 | 144.9% |
| United States | N/A | N/A | N/A | 0.4 | 0% |
| Others | 0.1 | N/A | 0.1 | 0.1 | 0.0% |
| Total | 5.8 | 3.4 | 4.3 | 7.3 | 8.0% |
Top Suppliers of Crude Oil to Finland in 2022:
- Norway (6.8M tons)
- Russia (1.7M tons)
- United Kingdom (0.7M tons)
- United States (0.2M tons)
Crude Oil Exports in Finland
After two years of decline, shipments abroad of crude petroleum oil increased by 191% to 32 kg in 2022. Overall, exports, however, continue to indicate a precipitous setback.
In value terms, crude oil exports reached $738 in 2022. In general, exports, however, saw a precipitous decrease.
| Export of Crude Oil in Finland (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | N/A | N/A | N/A | 0.4 | 0% |
| Russia | N/A | N/A | N/A | 0.3 | 0% |
| Latvia | 12.2 | N/A | N/A | N/A | 0% |
| United Kingdom | N/A | N/A | 0.7 | N/A | 0% |
| Poland | 69.2 | N/A | N/A | N/A | 0% |
| Estonia | 163 | 3.8 | N/A | N/A | -97.7% |
| United States | N/A | 0.4 | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 244 | 4.2 | 0.7 | 0.7 | -85.8% |
Top Export Markets for Crude Oil from Finland in 2022:
- Russia (20.0 kg)
- New Zealand (10.0 kg)
- United States (1.0 kg)
- United Kingdom (1.0 kg)
This report provides an in-depth analysis of the crude oil market in Finland. 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:
- Finland
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Finland
- 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 Finland.
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This report provides an in-depth analysis of the market for crude oil and processed petroleum in Finland.
394
This report provides an in-depth analysis of the global crude oil market.
122
This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
303
This report provides an in-depth analysis of the crude oil market in Finland.
98
This report provides an in-depth analysis of the market for crude oil and processed petroleum in Finland.
394
This report provides an in-depth analysis of the global crude oil market.
122
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.
