Singapore - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingCrude Oil Price in Singapore - 2022
Contents:
- Crude Oil Price in Singapore (CIF) - 2022
- Crude Oil Price in Singapore (FOB) - 2022
- Crude Oil Imports in Singapore
- Crude Oil Exports in Singapore
Crude Oil Price in Singapore (CIF) - 2022
The average crude oil import price stood at $1,150 per ton in September 2022, stabilizing at the previous month. Over the last eight-month period, it increased at an average monthly rate of +4.8%. The most prominent rate of growth was recorded in March 2022 an increase of 15% against the previous month. The import price peaked at $1,266 per ton in July 2022; however, from August 2022 to September 2022, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In September 2022, the highest price was recorded for prices from the United States ($1,186 per ton) and Qatar ($1,158 per ton), while the price for Iraq ($1,034 per ton) and Saudi Arabia ($1,092 per ton) were amongst the lowest.
From January 2022 to September 2022, the most notable rate of growth in terms of prices was attained by Qatar (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Crude Oil Price in Singapore (FOB) - 2022
In 2022, the average crude oil export price amounted to $1,155 per ton, jumping by 63% against the previous year. Overall, the export price, however, showed a noticeable contraction. The growth pace was the most rapid in 2016 when the average export price increased by 119%. The export price peaked at $2,517 per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($1,242 per ton), while the average price for exports to Australia ($474 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 New Zealand (+42.6%), while the prices for the other major destinations experienced more modest paces of growth.
Crude Oil Imports in Singapore
In 2022, imports of crude petroleum oil into Singapore rose remarkably to 44M tons, picking up by 5.4% compared with the previous year's figure. In general, imports, however, saw a perceptible setback.
In value terms, crude oil imports surged to $34B in 2022. Over the period under review, imports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2021 when imports increased by 57%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.
| Import of Crude Oil in Singapore (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | N/A | N/A | N/A | 9.5 | 0% |
| United States | 1.3 | 1.5 | 3.1 | 8.7 | 88.4% |
| Saudi Arabia | 4.1 | 2.0 | 3.5 | 4.1 | 0.0% |
| Qatar | 6.1 | 3.4 | 5.2 | 3.4 | -17.7% |
| Brazil | 0.2 | 1.0 | 1.8 | 2.3 | 125.7% |
| Australia | 2.0 | 0.9 | 2.1 | 1.8 | -3.5% |
| Iraq | 1.7 | 0.5 | 0.5 | 0.9 | -19.1% |
| Malaysia | 1.5 | 0.5 | 0.5 | 0.6 | -26.3% |
| Russia | 1.0 | 0.1 | 0.5 | 0.1 | -53.6% |
| Kuwait | 1.8 | 1.4 | 0.3 | N/A | -59.2% |
| Others | 4.6 | 3.2 | 5.0 | 2.7 | -16.3% |
| Total | 24.2 | 14.4 | 22.6 | 34.0 | 12.0% |
Top Suppliers of Crude Oil to Singapore in 2022:
- Kuwait (undefinedM tons)
- United Arab Emirates (12.4M tons)
- United States (10.6M tons)
- Saudi Arabia (5.3M tons)
- Qatar (4.4M tons)
- Brazil (3.2M tons)
- Australia (2.3M tons)
- Iraq (1.3M tons)
- Malaysia (0.6M tons)
- Russia (0.1M tons)
Crude Oil Exports in Singapore
In 2022, the amount of crude petroleum oil exported from Singapore shrank sharply to 148 tons, dropping by -99.9% compared with the year before. In general, exports, however, continue to indicate significant growth. The growth pace was the most rapid in 2021 when exports increased by 3,985,551%. As a result, the exports attained the peak of 240K tons, and then fell rapidly in the following year.
In value terms, crude oil exports declined markedly to $170K in 2022. Over the period under review, exports, however, showed significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 3,632,369%. As a result, the exports reached the peak of $170M, and then reduced remarkably in the following year.
| Export of Crude Oil in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | N/A | N/A | N/A | 0.1 | 0% |
| Thailand | N/A | N/A | 42.4 | N/A | 0% |
| Malaysia | N/A | N/A | 40.4 | N/A | 0% |
| Philippines | N/A | N/A | N/A | N/A | 0% |
| Mexico | N/A | N/A | N/A | N/A | 0% |
| Australia | N/A | N/A | 45.2 | N/A | 0% |
| Canada | N/A | N/A | N/A | N/A | 0% |
| Others | N/A | N/A | 41.9 | N/A | 0% |
| Total | N/A | N/A | 170 | 0.2 | -99.9% |
Top Export Markets for Crude Oil from Singapore in 2022:
- United States (104.9 tons)
- Mexico (10.1 tons)
- Malaysia (9.7 tons)
- Canada (7.5 tons)
- Australia (6.4 tons)
- Thailand (4.3 tons)
- Philippines (2.6 tons)
This report provides an in-depth analysis of the crude oil market in Singapore. 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:
- Singapore
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Singapore
- 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 Singapore.
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This report provides an in-depth analysis of the market for crude oil and processed petroleum in Singapore.
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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.
434
This report provides an in-depth analysis of the crude oil market in Singapore.
174
This report provides an in-depth analysis of the market for crude oil and processed petroleum in Singapore.
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.
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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.
