Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Kuwait - 2022
Contents:
- Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Kuwait (CIF) - 2022
- Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Kuwait (FOB) - 2022
- Imports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Kuwait
- Exports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Kuwait
Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Kuwait (CIF) - 2022
In December 2021, the average import price for residues; of petroleum oils or of oils obtained from bituminous mineralses amounted to $1,043 per ton, picking up by 29% against the previous month. Over the last two months, it increased at an average monthly rate of +15.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
As there is only one major supplying country, the average price level is determined by prices for India.
From October 2021 to December 2021, the rate of growth in terms of prices for India amounted to +15.2% per month.
Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Kuwait (FOB) - 2022
The average export price for residues; of petroleum oils or of oils obtained from bituminous mineralses stood at $123 per ton in 2022, increasing by 3.1% against the previous year. Overall, the export price, however, showed a abrupt shrinkage. The growth pace was the most rapid in 2021 when the average export price increased by 36% against the previous year. The export price peaked at $441 per ton in 2012; however, from 2013 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 India ($139 per ton), while the average price for exports to China ($54 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 Saudi Arabia (+3.9%), while the prices for the other major destinations experienced a decline.
Imports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Kuwait
In 2022, imports of residues; of petroleum oils or of oils obtained from bituminous mineralses into Kuwait fell markedly to 401 tons, which is down by -45.8% on the previous year's figure. Over the period under review, imports, however, saw prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by 838%. As a result, imports reached the peak of 739 tons, and then reduced notably in the following year.
In value terms, imports of residues; of petroleum oils or of oils obtained from bituminous mineralses fell significantly to $390K in 2022. Overall, imports continue to indicate a noticeable slump. The most prominent rate of growth was recorded in 2021 with an increase of 655%. As a result, imports reached the peak of $634K, and then fell dramatically in the following year.
| Import of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Kuwait (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 45.2 | 61.3 | 598 | 323 | 92.6% |
| United Arab Emirates | N/A | N/A | N/A | 66.3 | 0% |
| United States | 407 | 22.6 | 35.5 | 0.2 | -92.1% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 452 | 83.9 | 634 | 390 | -4.8% |
Top Suppliers of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals to Kuwait in 2022:
- India (332.3 tons)
- United Arab Emirates (68.2 tons)
- United States (0.2 tons)
Exports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Kuwait
In 2022, the amount of residues; of petroleum oils or of oils obtained from bituminous mineralses exported from Kuwait soared to 531 tons, increasing by 73% against the year before. In general, exports, however, showed a deep reduction.
In value terms, exports of residues; of petroleum oils or of oils obtained from bituminous mineralses skyrocketed to $65K in 2022. Overall, exports, however, saw a deep reduction.
| Export of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Kuwait (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Saudi Arabia | 26.1 | 37.5 | 15.8 | 33.6 | 8.8% |
| India | 35.7 | 37.8 | 11.8 | 16.2 | -23.2% |
| Bahrain | 15.8 | 16.1 | 7.0 | 12.4 | -7.8% |
| United Arab Emirates | 0.6 | 0.8 | 0.3 | 0.8 | 10.1% |
| China | 1.6 | 1.5 | 0.4 | 0.6 | -27.9% |
| Others | 30.5 | N/A | 1.2 | 1.5 | -63.4% |
| Total | 110 | 93.6 | 36.6 | 65.1 | -16.0% |
Top Export Markets for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals from Kuwait in 2022:
- Saudi Arabia (241.4 tons)
- Bahrain (145.9 tons)
- India (116.6 tons)
- China (11.2 tons)
- United Arab Emirates (11.0 tons)
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