Report Update: May 1, 2024

Peru - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends And Insights

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Crude Oil Price in Peru - 2021

Crude Oil Price in Peru (CIF) - 2021

In April 2020, the average crude oil import price amounted to $208 per ton, dropping by -45.3% against the previous month. Overall, the import price continues to indicate a dramatic slump. As a result, import price attained the peak level of $536 per ton. From February 2020 to April 2020, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In April 2020, the country with the highest price was the United States ($243 per ton), while the price for Brazil totaled $185 per ton.

From January 2020 to April 2020, the most notable rate of growth in terms of prices was attained by Brazil (+65.2%), while the prices for the other major suppliers experienced a decline.

Crude Oil Price in Peru (FOB) - 2022

In 2022, the average crude oil export price amounted to $405 per ton, declining by -13.3% against the previous year. Over the period under review, the export price continues to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2021 when the average export price increased by 38%. Over the period under review, the average export prices hit record highs at $677 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($456 per ton), while the average price for exports to Chile stood at $291 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-3.7%).

Crude Oil Imports in Peru

In 2022, the amount of crude petroleum oil imported into Peru dropped markedly to 2.7M tons, waning by -20.4% on the previous year's figure. In general, imports saw a deep downturn. The pace of growth was the most pronounced in 2021 when imports increased by 89%.

In value terms, crude oil imports reduced notably to $1.3B in 2022. Overall, imports recorded a abrupt slump. The growth pace was the most rapid in 2021 with an increase of 135% against the previous year.

Import of Crude Oil in Peru (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Brazil	0.1	121	792	511	1622.4%
United States	545	299	558	359	-13.0%
Ecuador	711	64.3	199	252	-29.2%
Nigeria	152	179	270	174	4.6%
Colombia	167	N/A	N/A	N/A	0%
Trinidad and Tobago	219	N/A	N/A	N/A	0%
Others	109	111	N/A	N/A	1.8%
Total	1,902	774	1,819	1,296	-12.0%

Top Suppliers of Crude Oil to Peru in 2022:

Brazil (1010.0K tons)
United States (714.4K tons)
Ecuador (627.2K tons)
Nigeria (348.0K tons)

Crude Oil Exports in Peru

In 2022, after three years of growth, there was decline in overseas shipments of crude petroleum oil, when their volume decreased by -2.9% to 603K tons. Over the period under review, total exports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +24.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +95.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 89%.

In value terms, crude oil exports reduced dramatically to $244M in 2022. Overall, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 62%.

Export of Crude Oil in Peru (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	35.1	96.4	207	189	75.3%
Chile	86.9	78.6	35.7	54.8	-14.2%
Saint Lucia	N/A	19.5	N/A	N/A	0%
Brazil	N/A	3.6	46.8	N/A	1200.0%
Others	N/A	N/A	N/A	N/A	0%
Total	122	198	290	244	26.0%

Top Export Markets for Crude Oil from Peru in 2022:

United States (414.9K tons)
Chile (187.9K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the crude oil market in Peru. 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:

Peru

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Peru
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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023