Kuwait - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingCrude Oil Price in Kuwait - 2022
Contents:
- Crude Oil Price in Kuwait (FOB) - 2022
- Crude Oil Price in Kuwait (CIF) - 2022
- Crude Oil Exports in Kuwait
- Crude Oil Imports in Kuwait
Crude Oil Price in Kuwait (FOB) - 2022
The average crude oil export price stood at $356 per ton in 2022, reducing by -14.7% against the previous year. Overall, the export price continues to indicate a noticeable setback. The pace of growth was the most pronounced in 2021 when the average export price increased by 42% against the previous year. The export price peaked at $764 per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.
Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Japan ($385 per ton) and South Korea ($385 per ton), while the average price for exports to Vietnam ($265 per ton) and Taiwan (Chinese) ($269 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (-3.5%), while the prices for the other major destinations experienced a decline.
Crude Oil Price in Kuwait (CIF) - 2022
The average crude oil import price stood at $554 per ton in 2022, reducing by -4.5% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 25%. Over the period under review, average import prices reached the peak figure at $580 per ton in 2021, and then reduced modestly in the following year.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($1,780 per ton), while the price for Canada stood at $549 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+10.0%), while the prices for the other major suppliers experienced a decline.
Crude Oil Exports in Kuwait
In 2022, the amount of crude petroleum oil exported from Kuwait reduced to 99M tons, remaining stable against 2021 figures. Overall, exports recorded a mild slump. The most prominent rate of growth was recorded in 2021 with an increase of 2.5% against the previous year.
In value terms, crude oil exports contracted remarkably to $35.2B in 2022. Over the period under review, exports saw a abrupt slump. The growth pace was the most rapid in 2021 when exports increased by 46%.
Export of Crude Oil in Kuwait (Billion USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 5.3 | 4.2 | 7.2 | 11.7 | 30.2% |
South Korea | 4.9 | 2.6 | 3.4 | 5.1 | 1.3% |
India | 2.5 | 1.6 | 3.2 | 4.3 | 19.8% |
Japan | 3.0 | 1.8 | 2.5 | 4.0 | 10.1% |
Vietnam | 1.7 | 1.5 | 2.1 | 2.2 | 9.0% |
Taiwan (Chinese) | 2.1 | 1.1 | 2.0 | 2.1 | 0.0% |
Egypt | 0.8 | 0.8 | 0.4 | 1.0 | 7.7% |
Netherlands | 0.9 | 0.1 | 0.1 | 0.1 | -51.9% |
Others | 25.2 | 14.9 | 20.8 | 4.7 | -42.9% |
Total | 46.5 | 28.6 | 41.8 | 35.2 | -8.9% |
Top Export Markets for Crude Oil from Kuwait in 2022:
- China (30.7M tons)
- South Korea (13.3M tons)
- India (11.8M tons)
- Japan (10.3M tons)
- Vietnam (8.1M tons)
- Taiwan (Chinese) (7.6M tons)
- Egypt (2.8M tons)
- Netherlands (1.0M tons)
Crude Oil Imports in Kuwait
In 2022, after three years of growth, there was decline in overseas purchases of crude petroleum oil, when their volume decreased by -2.2% to 305K tons. The total import volume increased at an average annual rate of +2.3% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 4.9%. As a result, imports reached the peak of 311K tons, and then declined modestly in the following year.
In value terms, crude oil imports contracted to $169M in 2022. The total import value increased at an average annual rate of +7.4% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 15% against the previous year.
Import of Crude Oil in Kuwait (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Canada | 130 | 153 | 180 | 166 | 8.5% |
Others | 6.6 | 3.4 | 0.9 | 3.1 | -22.3% |
Total | 136 | 157 | 181 | 169 | 7.5% |
Top Suppliers of Crude Oil to Kuwait in 2022:
- Canada (301.9K tons)
This report provides an in-depth analysis of the crude oil market in Kuwait. 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:
- Kuwait
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Kuwait
- 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
This report provides an in-depth analysis of the crude oil market in Kuwait.
This report provides an in-depth analysis of the market for crude oil and processed petroleum in Kuwait.
This report provides an in-depth analysis of the global crude oil market.
This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
This report provides an in-depth analysis of the crude oil market in Kuwait.
This report provides an in-depth analysis of the market for crude oil and processed petroleum in Kuwait.
This report provides an in-depth analysis of the global crude oil market.
This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
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.
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.