Algeria: Crude Oil Market 2024

Crude Oil Market Size in Algeria

The Algerian crude oil market declined to $X in 2022, waning by X% against the previous year. Over the period under review, consumption saw a slight shrinkage. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Crude Oil Production in Algeria

In value terms, crude oil production contracted to $X in 2022 estimated in export price. In general, production saw a deep contraction. The pace of growth was the most pronounced in 2018 with an increase of X%. Crude oil production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Crude Oil Exports

Exports from Algeria

In 2022, approx. X tons of crude petroleum oil were exported from Algeria; waning by X% against 2021 figures. Over the period under review, exports saw a deep contraction. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude oil exports fell sharply to $X in 2022. In general, exports saw a deep reduction. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

France (X tons), Spain (X tons) and the Netherlands (X tons) were the main destinations of crude oil exports from Algeria, with a combined X% share of total exports. The UK, India, Italy, Belgium, Germany, Portugal, the United States, Cuba, Brazil and Canada lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cuba (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for crude oil exported from Algeria were France ($X), Spain ($X) and the Netherlands ($X), together comprising X% of total exports. The UK, Italy, India, Germany, Portugal, the United States, Brazil, Belgium, Canada and Cuba lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Germany, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average crude oil export price stood at $X per ton in 2022, declining by X% against the previous year. Overall, the export price recorded a deep reduction. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. The export price peaked at $X 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 the Netherlands ($X per ton), while the average price for exports to Cuba ($X 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 Germany (X%), while the prices for the other major destinations experienced a decline.

Crude Oil Imports

Imports into Algeria

In 2022, approx. X tons of crude petroleum oil were imported into Algeria; increasing by X% on 2021. In general, imports saw a temperate increase. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, crude oil imports surged to $X in 2022. Overall, imports enjoyed buoyant growth. The growth pace was the most rapid in 2016 with an increase of X%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, France (X tons) constituted the largest crude oil supplier to Algeria, with a X% share of total imports. Moreover, crude oil imports from France exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume from France totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and China (X% per year).

In value terms, France ($X) constituted the largest supplier of crude petroleum oil to Algeria, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from France stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Spain (X% per year).

Import Prices by Country

The average crude oil import price stood at $X per ton in 2022, which is down by X% against the previous year. In general, the import price, however, saw a measured expansion. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :