Qatar: Crude Oil Market 2024

Crude Oil Market Size in Qatar

The Qatari crude oil market shrank to $X in 2022, waning by X% against the previous year. Overall, consumption showed a noticeable contraction. Crude oil consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Crude Oil Production in Qatar

In value terms, crude oil production contracted to $X in 2022 estimated in export price. In general, production saw a noticeable downturn. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Crude oil production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

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Crude Oil Exports

Exports from Qatar

In 2022, overseas shipments of crude petroleum oil increased by X% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports, however, recorded a pronounced contraction. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude oil exports soared to $X in 2022. Overall, exports, however, saw a perceptible downturn. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X tons), China (X tons) and Singapore (X tons) were the main destinations of crude oil exports from Qatar, with a combined X% share of total exports. India, Thailand, Myanmar, Brunei Darussalam, South Korea and Malaysia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Brunei Darussalam (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Singapore ($X) were the largest markets for crude oil exported from Qatar worldwide, with a combined X% share of total exports. India, Thailand, Myanmar, Brunei Darussalam, South Korea and Malaysia lagged somewhat behind, together comprising a further X%.

Brunei Darussalam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average crude oil export price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid 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 stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Myanmar ($X per ton) and India ($X per ton), while the average price for exports to South Korea ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brunei Darussalam (X%), while the prices for the other major destinations experienced mixed trend patterns.

Crude Oil Imports

Imports into Qatar

In 2022, overseas purchases of crude petroleum oil decreased by X% to X tons, falling for the third consecutive year after three years of growth. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, crude oil imports soared to $X in 2022. In general, imports, however, posted significant growth. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest crude oil supplier to Qatar, with a X% share of total imports. Moreover, crude oil imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold.

From 2016 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and France (X% per year).

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

From 2016 to 2022, the average annual growth rate of value from Spain totaled X.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

In 2022, the average crude oil import price amounted to $X per kg, picking up by X% against the previous year. In general, the import price continues to indicate a significant expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per kg), while the price for the United Arab Emirates ($X per kg) was amongst the lowest.

From 2016 to 2022, the most notable rate of growth in terms of prices was attained by Spain (X.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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