Australia and Oceania: Crude Oil Market 2024

Crude Oil Market Size in Australia and Oceania

In 2022, the crude oil market in Australia and Oceania decreased by X% to $X, falling for the fourth consecutive year after two years of growth. Over the period under review, consumption saw a abrupt decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Crude Oil Production in Australia and Oceania

In value terms, crude oil production shrank to $X in 2022 estimated in export price. In general, production, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Crude Oil Exports

Exports in Australia and Oceania

In 2022, the amount of crude petroleum oil exported in Australia and Oceania contracted modestly to X tons, with a decrease of X% against the year before. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude oil exports skyrocketed to $X in 2022. Over the period under review, exports saw a noticeable setback. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Australia dominates exports structure, recording X tons, which was approx. X% of total exports in 2022. It was distantly followed by Papua New Guinea (X tons), making up an X% share of total exports. New Zealand (X tons) followed a long way behind the leaders.

Australia was also the fastest-growing in terms of the crude petroleum oil exports, with a CAGR of X% from 2012 to 2022. Papua New Guinea experienced a relatively flat trend pattern. New Zealand (X%) illustrated a downward trend over the same period. Australia (X p.p.) significantly strengthened its position in terms of the total exports, while New Zealand saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) remains the largest crude oil supplier in Australia and Oceania, comprising X% of total exports. The second position in the ranking was taken by Papua New Guinea ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia totaled X%. In the other countries, the average annual rates were as follows: Papua New Guinea (X% per year) and New Zealand (X% per year).

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Papua New Guinea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (X%), while the other leaders experienced a decline in the export price figures.

Crude Oil Imports

Imports in Australia and Oceania

In 2022, overseas purchases of crude petroleum oil decreased by X% to X tons, falling for the fourth year in a row after three years of growth. Overall, imports saw a deep contraction. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, crude oil imports stood at $X in 2022. Over the period under review, imports continue to indicate a deep setback. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Australia prevails in imports structure, resulting at X tons, which was near X% of total imports in 2022. It was distantly followed by New Zealand (X tons), making up a X% share of total imports. Papua New Guinea (X tons) followed a long way behind the leaders.

Imports into Australia decreased at an average annual rate of X% from 2012 to 2022. Papua New Guinea (X%) and New Zealand (X%) illustrated a downward trend over the same period. Australia (X p.p.) significantly strengthened its position in terms of the total imports, while New Zealand saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported crude petroleum oil in Australia and Oceania, comprising X% of total imports. The second position in the ranking was taken by New Zealand ($X), with a X% share of total imports.

In Australia, crude oil imports decreased by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: New Zealand (X% per year) and Papua New Guinea (X% per year).

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price, however, recorded a noticeable curtailment. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Australia ($X per ton), while Papua New Guinea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :