India - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingCrude Oil Price in India - 2023
Contents:
- Crude Oil Price in India (CIF) - 2023
- Crude Oil Price in India (FOB) - 2022
- Crude Oil Imports in India
- Crude Oil Exports in India
Crude Oil Price in India (CIF) - 2023
The average crude oil import price stood at $537 per ton in July 2023, approximately reflecting the previous month. In general, the import price, however, continues to indicate a pronounced shrinkage. The pace of growth was the most pronounced in November 2022 an increase of 2.6% m-o-m. Over the period under review, average import prices attained the peak figure at $808 per ton in July 2022; however, from August 2022 to July 2023, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In July 2023, the highest price was recorded for prices from the United Arab Emirates ($644 per ton) and the United States ($636 per ton), while the price for Colombia ($482 per ton) and South Korea ($496 per ton) were amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-2.2%), while the prices for the other major suppliers experienced a decline.
Crude Oil Price in India (FOB) - 2022
The average crude oil export price stood at $1,406 per ton in 2022, picking up by 175% against the previous year. Over the period under review, the export price saw a prominent expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($1,457 per ton), while the average price for exports to El Salvador totaled $793 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to El Salvador (-3.2%), while the prices for the other major destinations experienced a decline.
Crude Oil Imports in India
In 2022, the amount of crude petroleum oil imported into India rose sharply to 244M tons, with an increase of 14% against 2021. The total import volume increased at an average annual rate of +3.5% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, crude oil imports surged to $173.5B in 2022. In general, imports posted buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 65%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.
| Import of Crude Oil in India (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Iraq | 24.1 | 17.2 | 29.0 | 37.1 | 15.5% |
| Saudi Arabia | 22.9 | 14.4 | 20.7 | 32.7 | 12.6% |
| Russia | 1.6 | 1.1 | 2.7 | 25.5 | 151.7% |
| United Arab Emirates | N/A | N/A | N/A | 17.8 | 0% |
| United States | 5.2 | 4.3 | 12.0 | 13.0 | 35.7% |
| Kuwait | 5.6 | 3.8 | 7.9 | 9.1 | 17.6% |
| Nigeria | 10.6 | 6.1 | 9.5 | 7.4 | -11.3% |
| Oman | N/A | N/A | N/A | 3.6 | 0% |
| Mexico | 4.2 | 2.5 | 3.9 | 3.4 | -6.8% |
| Angola | 3.1 | 1.6 | 1.9 | 3.1 | 0.0% |
| Venezuela | 6.3 | 2.7 | N/A | N/A | -57.1% |
| Others | 18.3 | 10.9 | 18.8 | 20.8 | 4.4% |
| Total | 102 | 64.6 | 106 | 174 | 19.5% |
Top Suppliers of Crude Oil to India in 2022:
- Iraq (54.6M tons)
- Saudi Arabia (43.5M tons)
- Russia (37.0M tons)
- United Arab Emirates (23.4M tons)
- United States (19.0M tons)
- Kuwait (12.8M tons)
- Nigeria (9.6M tons)
- Mexico (5.5M tons)
- Oman (4.8M tons)
- Angola (4.3M tons)
Crude Oil Exports in India
In 2022, the amount of crude petroleum oil exported from India contracted rapidly to 25K tons, dropping by -68.8% on 2021 figures. In general, exports recorded a significant decrease. The smallest decline of -16.4% was in 2021.
In value terms, crude oil exports reduced to $35M in 2022. Over the period under review, exports saw a sharp slump. The pace of growth appeared the most rapid in 2021 when exports increased by 40%.
| Export of Crude Oil in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | N/A | N/A | N/A | 33.8 | 0% |
| El Salvador | N/A | N/A | N/A | 1.3 | 0% |
| United States | 72.7 | N/A | N/A | N/A | 0% |
| United Arab Emirates | N/A | 8.5 | 0.1 | N/A | -98.8% |
| South Africa | N/A | N/A | 22.7 | N/A | 0% |
| Australia | N/A | N/A | 18.5 | N/A | 0% |
| Others | N/A | 21.1 | 0.1 | 0.3 | -88.1% |
| Total | 72.7 | 29.6 | 41.3 | 35.5 | -21.3% |
Top Export Markets for Crude Oil from India in 2022:
- South Korea (23.2K tons)
- El Salvador (1.7K tons)
This report provides an in-depth analysis of the crude oil market in India. 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:
- India
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in India
- 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 India.
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This report provides an in-depth analysis of the market for crude oil and processed petroleum in India.
408
This report provides an in-depth analysis of the global crude oil market.
133
This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
247
This report provides an in-depth analysis of the crude oil market in India.
101
This report provides an in-depth analysis of the market for crude oil and processed petroleum in India.
408
This report provides an in-depth analysis of the global crude oil market.
133
This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
135
From January 2023 to November 2023, the growth of imports for Crude Oil remained at a lower figure. In value terms, crude oil imports dropped to $11.9B in November 2023.
169
From January 2023 to October 2023, the growth of imports for Crude Oil remained at a somewhat lower figure, with crude oil imports soaring to $12.4B in October 2023 in value terms.
806
The import growth of Crude Oil remained stable between January 2023 and July 2023, reaching a value of $9 billion in July 2023.
513
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.
135
From January 2023 to November 2023, the growth of imports for Crude Oil remained at a lower figure. In value terms, crude oil imports dropped to $11.9B in November 2023.
169
From January 2023 to October 2023, the growth of imports for Crude Oil remained at a somewhat lower figure, with crude oil imports soaring to $12.4B in October 2023 in value terms.
806
The import growth of Crude Oil remained stable between January 2023 and July 2023, reaching a value of $9 billion in July 2023.
513
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.
