U.S. - Processed Petroleum Oils and Distillates - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Processed Petroleum Oils and Distillates in the United States - 2023
Contents:
- Price for Processed Petroleum Oils and Distillates in the United States (FOB) - 2023
- Price for Processed Petroleum Oils and Distillates in the United States (CIF) - 2023
- Exports of Processed Petroleum Oils and Distillates in the United States
- Imports of Processed Petroleum Oils and Distillates in the United States
Price for Processed Petroleum Oils and Distillates in the United States (FOB) - 2023
In August 2023, the average export price for processed petroleum oils and distillates amounted to $831 per ton, with an increase of 12% against the previous month. Overall, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $917 per ton in October 2022; however, from November 2022 to August 2023, the export prices failed to regain momentum.
Average prices varied noticeably for the major overseas markets. In August 2023, the countries with the highest prices were Guatemala ($869 per ton) and Canada ($866 per ton), while the average price for exports to Bahamas ($706 per ton) and Costa Rica ($741 per ton) were 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.
Price for Processed Petroleum Oils and Distillates in the United States (CIF) - 2023
In August 2023, the average import price for processed petroleum oils and distillates amounted to $785 per ton, growing by 9.8% against the previous month. Overall, the import price, however, showed a mild contraction. The import price peaked at $897 per ton in August 2022; however, from September 2022 to August 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In August 2023, 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.
Exports of Processed Petroleum Oils and Distillates in the United States
In 2022, after two years of decline, there was growth in shipments abroad of processed petroleum oils and distillates, when their volume increased by 2.4% to 151M tons. Over the period under review, exports, however, showed a abrupt decrease.
In value terms, processed petroleum oils and distillates exports soared to $133.8B in 2022. Overall, exports enjoyed resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Processed Petroleum Oils and Distillates in the United States (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 27.0 | 17.5 | 27.4 | 39.5 | 13.5% |
| Canada | 9.9 | 7.3 | 10.6 | 16.0 | 17.4% |
| Brazil | 8.5 | 6.4 | 7.9 | 10.5 | 7.3% |
| Chile | 3.5 | 2.8 | 3.9 | 9.0 | 37.0% |
| Panama | 2.9 | 2.5 | 3.2 | 6.1 | 28.1% |
| Peru | 2.8 | 2.1 | 3.1 | 5.8 | 27.5% |
| Colombia | 3.0 | 1.9 | 3.1 | 5.3 | 20.9% |
| Guatemala | 2.2 | 1.6 | 2.5 | 3.9 | 21.0% |
| Ecuador | 2.3 | 1.4 | 1.3 | 3.5 | 15.0% |
| Netherlands | 2.6 | 1.7 | 2.1 | 3.3 | 8.3% |
| Argentina | 1.3 | 0.6 | 0.6 | 3.2 | 35.0% |
| Bahamas | 1.1 | 0.9 | 1.0 | 2.8 | 36.5% |
| Dominican Republic | 1.5 | 0.7 | 1.2 | 2.5 | 18.6% |
| Others | 18.8 | 13.4 | 17.4 | 22.4 | 6.0% |
| Total | 87.5 | 60.7 | 85.3 | 134 | 15.3% |
Top Export Markets for Processed Petroleum Oils and Distillates from the United States in 2022:
- Mexico (44.6M tons)
- Canada (18.9M tons)
- Brazil (12.2M tons)
- Chile (10.0M tons)
- Panama (6.8M tons)
- Peru (6.6M tons)
- Colombia (6.3M tons)
- Guatemala (4.2M tons)
- Netherlands (4.1M tons)
- Ecuador (3.9M tons)
- Bahamas (3.6M tons)
- Argentina (3.3M tons)
- Dominican Republic (2.7M tons)
Imports of Processed Petroleum Oils and Distillates in the United States
In 2022, the amount of processed petroleum oils and distillates imported into the United States shrank to 92M tons, falling by -14.6% against 2021. Over the period under review, imports showed a abrupt setback. The smallest decline of -1.7% was in 2021.
In value terms, processed petroleum oils and distillates imports surged to $79.4B in 2022. Overall, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 72%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the near future.
| Import of Processed Petroleum Oils and Distillates in the United States (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 11.5 | 7.1 | 10.4 | 15.5 | 10.5% |
| Mexico | 1.1 | 1.3 | 2.8 | 5.3 | 68.9% |
| South Korea | 4.4 | 2.5 | 3.8 | 5.1 | 5.0% |
| Russia | 10.2 | 7.9 | 12.7 | 4.6 | -23.3% |
| Saudi Arabia | 0.9 | 0.5 | 2.5 | 4.4 | 69.7% |
| Netherlands | 3.3 | 1.6 | 4.2 | 4.3 | 9.2% |
| India | 3.7 | 1.9 | 3.1 | 3.8 | 0.9% |
| United Kingdom | 2.4 | 1.2 | 2.0 | 3.2 | 10.1% |
| Italy | 1.3 | 0.7 | 1.5 | 2.3 | 20.9% |
| Iraq | 0.2 | N/A | 0.1 | 2.3 | 125.7% |
| Spain | 1.5 | 0.7 | 1.1 | 2.0 | 10.1% |
| Algeria | 1.8 | 0.3 | 0.9 | 1.8 | 0.0% |
| Brazil | 1.6 | 1.1 | 1.1 | 1.7 | 2.0% |
| Others | 18.2 | 9.6 | 16.2 | 23.2 | 8.4% |
| Total | 61.9 | 36.3 | 62.5 | 79.4 | 8.7% |
Top Suppliers of Processed Petroleum Oils and Distillates to the United States in 2022:
- Canada (16.3M tons)
- Mexico (9.1M tons)
- Russia (6.6M tons)
- Saudi Arabia (5.2M tons)
- Netherlands (4.7M tons)
- South Korea (4.7M tons)
- India (3.7M tons)
- United Kingdom (3.5M tons)
- Iraq (3.3M tons)
- Italy (2.6M tons)
- Brazil (2.3M tons)
- Spain (2.3M tons)
- Algeria (2.1M tons)
This report provides an in-depth analysis of the market for processed petroleum oils and distillates 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:
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.
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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
-
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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