U.S. Petroleum Market. Analysis And Forecast to 2030
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingPetroleum Price in the United States - 2023
Contents:
- Petroleum Price in the United States (FOB) - 2023
- Petroleum Price in the United States (CIF) - 2023
- Petroleum Exports in the United States
- Petroleum Imports in the United States
Petroleum Price in the United States (FOB) - 2023
In August 2023, the average petroleum export price amounted to $682 per ton, rising by 13% against the previous month. In general, the export price, however, showed a mild setback. Over the period under review, the average export prices attained the peak figure at $777 per ton in August 2022; however, from September 2022 to August 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In August 2023, the country with the highest price was Panama ($851 per ton), while the average price for exports to Japan ($138 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Panama (0.0%), while the prices for the other major destinations experienced a decline.
Petroleum Price in the United States (CIF) - 2023
The average petroleum import price stood at $763 per ton in August 2023, surging by 9% against the previous month. Overall, the import price, however, showed a slight shrinkage. Over the period under review, average import prices reached the peak figure at $870 per ton in August 2022; however, from September 2022 to August 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was India ($954 per ton), while the price for Mexico ($523 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Lithuania (-0.0%), while the prices for the other major suppliers experienced a decline.
Petroleum Exports in the United States
In 2022, approx. 192M tons of petroleum were exported from the United States; growing by 3.5% compared with the year before. In general, exports, however, saw a pronounced decrease.
In value terms, petroleum exports soared to $144.8B in 2022. Overall, exports showed a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Petroleum in the United States (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 28.3 | 17.2 | 28.2 | 40.6 | 12.8% |
| Canada | 10.6 | 7.4 | 11.4 | 17.0 | 17.1% |
| Brazil | 8.8 | 6.3 | 8.3 | 11.2 | 8.4% |
| Chile | 3.5 | 2.7 | 3.9 | 9.0 | 37.0% |
| Panama | 2.9 | 2.4 | 3.2 | 6.1 | 28.1% |
| Peru | 2.8 | 2.0 | 3.1 | 5.8 | 27.5% |
| Colombia | 3.0 | 1.8 | 3.1 | 5.3 | 20.9% |
| Guatemala | 2.3 | 1.6 | 2.6 | 4.0 | 20.3% |
| Netherlands | 2.8 | 1.8 | 2.4 | 3.6 | 8.7% |
| Ecuador | 2.3 | 1.3 | 1.3 | 3.6 | 16.1% |
| India | 0.7 | 0.6 | 1.1 | 1.7 | 34.4% |
| China | 0.5 | 0.4 | 1.0 | 1.6 | 47.4% |
| Japan | 1.0 | 0.9 | 1.8 | 1.5 | 14.5% |
| Others | 23.9 | 15.4 | 21.1 | 33.8 | 12.2% |
| Total | 93.4 | 61.8 | 92.4 | 145 | 15.8% |
Top Export Markets for Petroleum from the United States in 2022:
- Mexico (48.7M tons)
- Canada (20.7M tons)
- Brazil (15.7M tons)
- Chile (10.1M tons)
- China (7.0M tons)
- Panama (6.9M tons)
- Peru (6.7M tons)
- Colombia (6.3M tons)
- India (5.4M tons)
- Guatemala (4.9M tons)
- Netherlands (4.8M tons)
- Japan (4.2M tons)
- Ecuador (4.2M tons)
Petroleum Imports in the United States
In 2022, approx. 101M tons of petroleum were imported into the United States; which is down by -12% against 2021 figures. Over the period under review, imports showed a drastic downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 14%.
In value terms, petroleum imports surged to $85.2B in 2022. In general, imports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 79%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
| Import of Petroleum in the United States (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 12.4 | 7.6 | 11.8 | 18.4 | 14.1% |
| South Korea | 4.8 | 2.7 | 4.2 | 6.0 | 7.7% |
| Mexico | 1.1 | 1.2 | 2.8 | 5.3 | 68.9% |
| Russia | 9.8 | 7.5 | 12.8 | 4.6 | -22.3% |
| Saudi Arabia | 0.9 | 0.5 | 2.5 | 4.4 | 69.7% |
| Netherlands | 3.1 | 1.6 | 4.3 | 4.4 | 12.4% |
| India | 3.7 | 1.9 | 3.3 | 3.8 | 0.9% |
| United Kingdom | 2.4 | 1.1 | 2.0 | 3.2 | 10.1% |
| Italy | 1.3 | 0.7 | 1.6 | 2.3 | 20.9% |
| Spain | 1.5 | 0.7 | 1.1 | 2.1 | 11.9% |
| Brazil | 1.7 | 1.2 | 1.3 | 2.0 | 5.6% |
| Algeria | 1.7 | 0.3 | 0.9 | 1.8 | 1.9% |
| Iraq | 0.2 | N/A | 0.1 | 0.1 | -20.6% |
| Others | 18.3 | 9.7 | 17.2 | 26.9 | 13.7% |
| Total | 62.9 | 36.8 | 65.9 | 85.2 | 10.6% |
Top Suppliers of Petroleum to the United States in 2022:
- Canada (21.6M tons)
- Mexico (9.1M tons)
- Russia (6.6M tons)
- South Korea (5.7M tons)
- Saudi Arabia (5.2M tons)
- Netherlands (4.9M tons)
- India (3.7M tons)
- United Kingdom (3.5M tons)
- Iraq (3.3M tons)
- Brazil (2.8M tons)
- Italy (2.6M tons)
- Spain (2.4M tons)
- Algeria (2.1M tons)
This report provides an in-depth analysis of the petroleum market in the U.S.. 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:
- NAICS 324110 - Petroleum refineries
Companies mentioned:
- Chevron Corporation
- Exxon Mobil Corporation
- Valero Energy Corporation
- Koch Industries
- Hollyfrontier Corporation
- Calumet Specialty Products Partners
- United Refining Company
- Western Refining
- Alon USA Energy
- Pbf Energy Company
- Pbf Energy
- Cvr Energy
- Murphy Oil Usa
- Chc McPherson Refinery
- BP America
- Delek US Holdings
- Marathon Petroleum Corporation
- Placid Refining Company
- Cvr Refining
- Northern Tier Energy
- Paulsboro Refining Company
- United Refining
- Valero Refining-New Orleans
- Shell Petroleum
- Exxonmobil Oil Corporation
- Placid Holding Company
- The Sinclair Companies
- United Acquisition Corp.
- Alon Refining Krotz Springs
- Pbf Holding Company
- Phillips 66 Company
- Alon USA Partners
- BP Corporation North America
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- 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
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- 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
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- 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- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- 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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- 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- 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
-
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
-
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
1685
This report provides an in-depth analysis of the petroleum market in the U.S..
799
This report provides an in-depth analysis of the asphalt paving mixture market in the U.S..
898
This report provides an in-depth analysis of the asphalt shingle market in the U.S..
244
This report provides an in-depth analysis of the market for all other petroleum and coal products in the USA.
2905
Global Petroleum Market Report 2019.
1685
This report provides an in-depth analysis of the petroleum market in the U.S..
799
This report provides an in-depth analysis of the asphalt paving mixture market in the U.S..
898
This report provides an in-depth analysis of the asphalt shingle market in the U.S..
244
This report provides an in-depth analysis of the market for all other petroleum and coal products in the USA.
2905
Global Petroleum Market Report 2019.
177
In June 2023, the Petroleum price was $591 per ton (FOB, US), experiencing a decrease of 5.2% compared to the previous month.
1492
Prices on the USA oil products market have been falling in recent years, against tangible fluctuations in the price margin (the difference between the selling price of petroleum products and the crude oil price). The mid-2015 transient margin's increas
1430
The U.S. owns a X% share (based on USD) of global petroleum exports, tied for first place in the world together with Russia (X%). In 2015, the U.S. exported X billion USD, X% under the previous year. Overall, from X
899
In value terms, asphalt imports totaled $X in 2016. In general, asphalt imports continue to indicate a relatively flat trend pattern. Global asphalt import peaked of $X in 2013; however, from 2014...
660
In value terms, asphalt exports amounted to $X in 2016. Overall, asphalt exports continue to indicate a relatively flat trend pattern. Global asphalt export peaked of $X in 2012; however, from X>
403
In July 2023, the price of Asphalt Shingle reached $920 per ton (FOB, US), showing a 5.1% increase compared to the previous month.
226
In February 2023 the price of asphalt shingles was $870 per ton (FOB, US), a 1.7% rise from the previous month.
451
In August 2022, the asphalt shingle price per ton amounted to $830.9 (FOB, US), waning by -5% against the previous month.
587
In value terms, petroleum resins, coumarone-indene resins imports totaled $X in 2016. The total import value increased at an average annual rate of +X% over the period from 2007 to 2016; however,...
924
In value terms, petroleum resins, coumarone-indene resins exports totaled $X in 2016. Overall, petroleum resins, coumarone-indene resins exports continue to indicate a pronounced downturn. Over the...
