Report Update: Apr 1, 2024

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

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Crude Oil Price in the Czech Republic - 2023

Crude Oil Price in the Czech Republic (CIF) - 2023

The average crude oil import price stood at $605 per ton in July 2023, jumping by 18% against the previous month. Over the period under review, the import price, however, showed a mild slump. Over the period under review, average import prices hit record highs at $723 per ton in July 2022; however, from August 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 the United States ($658 per ton), while the price for Russia ($583 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Libya (+2.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Crude Oil Price in the Czech Republic (FOB) - 2022

In 2022, the average crude oil export price amounted to $2,560 per ton, rising by 107% against the previous year. Overall, the export price saw strong growth. The pace of growth appeared the most rapid in 2020 an increase of 285% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($20,000 per ton), while the average price for exports to Slovakia ($1,639 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 Austria (+38.2%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Oil Imports in the Czech Republic

In 2022, crude oil imports into the Czech Republic rose sharply to 7.4M tons, growing by 15% on 2021 figures. In general, imports, however, saw a slight curtailment.

In value terms, crude oil imports skyrocketed to $4.9B in 2022. Overall, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 67%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Import of Crude Oil in the Czech Republic (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Russia	1,761	972	1,746	2,297	9.3%
Azerbaijan	1,116	552	604	1,461	9.4%
Kazakhstan	512	249	665	466	-3.1%
United States	138	249	422	409	43.6%
Saudi Arabia	48.8	15.6	N/A	169	51.3%
Libya	41.6	N/A	89.5	122	43.1%
Others	125	110	65.8	N/A	-27.4%
Total	3,741	2,147	3,593	4,923	9.6%

Top Suppliers of Crude Oil to the Czech Republic in 2022:

Russia (4.2M tons)
Azerbaijan (1.8M tons)
Kazakhstan (0.7M tons)
United States (0.5M tons)
Saudi Arabia (0.2M tons)
Libya (0.1M tons)

Crude Oil Exports in the Czech Republic

In 2022, crude oil exports from the Czech Republic dropped notably to 3.9 tons, waning by -38.2% compared with 2021. In general, exports showed a precipitous decline. The growth pace was the most rapid in 2021 when exports increased by 44% against the previous year.

In value terms, crude oil exports surged to $9.9K in 2022. Over the period under review, exports saw a sharp contraction.

Export of Crude Oil in the Czech Republic (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Moldova	N/A	N/A	0.9	4.8	433.3%
Slovakia	1.6	3.1	2.3	4.0	35.7%
Germany	4.6	3.5	1.3	1.0	-39.9%
Austria	162	0.5	0.3	0.1	-91.5%
Others	0.3	0.6	3.0	N/A	216.2%
Total	169	7.6	7.7	9.9	-61.2%

Top Export Markets for Crude Oil from the Czech Republic in 2022:

Slovakia (2428.0 kg)
Moldova (1240.0 kg)
Germany (185.0 kg)
Austria (4.0 kg)

Source: IndexBox Market Intelligence Platform

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

Czech Republic

Data coverage:

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