Dominican Republic - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingCrude Oil Price in the Dominican Republic - 2023
Contents:
- Crude Oil Price in the Dominican Republic (CIF) - 2023
- Crude Oil Price in the Dominican Republic (FOB) - 2022
- Crude Oil Imports in the Dominican Republic
- Crude Oil Exports in the Dominican Republic
Crude Oil Price in the Dominican Republic (CIF) - 2023
In March 2023, the average crude oil import price amounted to $618 per ton, shrinking by -8.4% against the previous month. Over the period under review, the import price saw a pronounced setback. The most prominent rate of growth was recorded in May 2022 an increase of 9.8% against the previous month. The import price peaked at $994 per ton in June 2022; however, from July 2022 to March 2023, import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for the United States.
From March 2022 to March 2023, the rate of growth in terms of prices for Nigeria amounted to 0.0% per month.
Crude Oil Price in the Dominican Republic (FOB) - 2022
In 2022, the average crude oil export price amounted to $727 per ton, dropping by -35.7% against the previous year. In general, the export price, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2018 an increase of 125%. Over the period under review, the average export prices hit record highs at $1,130 per ton in 2021, and then dropped significantly in the following year.
As there is only one major export destination, the average price level is determined by prices for the United States.
From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +9.4% per year.
Crude Oil Imports in the Dominican Republic
In 2022, approx. 1.1M tons of crude petroleum oil were imported into the Dominican Republic; shrinking by -6.7% on the previous year. In general, imports recorded a perceptible decline. The pace of growth was the most pronounced in 2021 when imports increased by 248% against the previous year. As a result, imports reached the peak of 1.2M tons, and then fell in the following year.
In value terms, crude oil imports surged to $886M in 2022. Over the period under review, imports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 266%. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Crude Oil in the Dominican Republic (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 300 | 88.8 | 525 | 886 | 43.5% |
| Venezuela | 47.1 | 30.5 | 48.7 | N/A | 1.7% |
| Nigeria | 135 | N/A | N/A | N/A | 0% |
| Mexico | 97.8 | 58.3 | 85.9 | N/A | -6.3% |
| Others | 19.3 | 4.4 | 6.3 | N/A | -42.9% |
| Total | 599 | 182 | 666 | 886 | 13.9% |
Top Suppliers of Crude Oil to the Dominican Republic in 2022:
- United States (1.1M tons)
Crude Oil Exports in the Dominican Republic
Crude oil exports from the Dominican Republic contracted significantly to 44 kg in 2022, declining by -99.9% on the year before. Overall, exports showed a precipitous curtailment. The pace of growth was the most pronounced in 2021 when exports increased by 11%.
In value terms, crude oil exports declined sharply to $32 in 2022. In general, exports faced a dramatic decline. The pace of growth appeared the most rapid in 2021 when exports increased by 19% against the previous year.
| Export of Crude Oil in the Dominican Republic (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Barbados | 42.7 | N/A | N/A | N/A | 0% |
| Haiti | 0.3 | 29.7 | 35.2 | N/A | 983.2% |
| Trinidad and Tobago | 10.8 | N/A | N/A | N/A | 0% |
| United States | 0.4 | 32.1 | 38.1 | N/A | 876.0% |
| Jamaica | 69.4 | N/A | N/A | N/A | 0% |
| Others | N/A | N/A | 0.3 | N/A | 0% |
| Total | 124 | 61.8 | 73.5 | N/A | -23.0% |
Top Export Markets for Crude Oil from the Dominican Republic in 2022:
- United States (44.0 kg)
This report provides an in-depth analysis of the crude oil market in the Dominican 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:
- Dominican 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 Dominican 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.
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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 the Dominican Republic.
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This report provides an in-depth analysis of the market for crude oil and processed petroleum in the Dominican Republic.
407
This report provides an in-depth analysis of the global crude oil market.
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This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
334
This report provides an in-depth analysis of the crude oil market in the Dominican Republic.
100
This report provides an in-depth analysis of the market for crude oil and processed petroleum in the Dominican Republic.
407
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.
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.
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.
