Romania: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Romania

The Romanian market for processed petroleum oils and distillates declined modestly to $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, and then shrank modestly in the following year.

Production of Processed Petroleum Oils and Distillates in Romania

In value terms, processed petroleum oils and distillates production shrank to $X in 2022 estimated in export price. Overall, production continues to indicate a noticeable setback. The pace of growth was the most pronounced in 2021 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Processed Petroleum Oils and Distillates

Exports from Romania

In 2022, shipments abroad of processed petroleum oils and distillates increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, total exports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when exports increased by X%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, processed petroleum oils and distillates exports skyrocketed to $X in 2022. Over the period under review, exports recorded moderate growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Moldova (X tons) was the main destination for processed petroleum oils and distillates exports from Romania, accounting for a X% share of total exports. Moreover, processed petroleum oils and distillates exports to Moldova exceeded the volume sent to the second major destination, Bulgaria (X tons), threefold. The third position in this ranking was held by Hungary (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Moldova stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (X% per year) and Hungary (X% per year).

In value terms, Moldova ($X) remains the key foreign market for processed petroleum oils and distillates exports from Romania, comprising X% of total exports. The second position in the ranking was taken by Bulgaria ($X), with a X% share of total exports. It was followed by Ukraine, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Moldova totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (X% per year) and Ukraine (X% per year).

Export Prices by Country

In 2022, the average export price for processed petroleum oils and distillates amounted to $X per ton, jumping 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 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; afterwards, it flattened through to 2022.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Ukraine ($X per ton) and Morocco ($X per ton), while the average price for exports to Libya ($X per ton) and Italy ($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 Ukraine (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Processed Petroleum Oils and Distillates

Imports into Romania

In 2022, approx. X tons of processed petroleum oils and distillates were imported into Romania; increasing by X% on 2021. Over the period under review, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, processed petroleum oils and distillates imports soared to $X in 2022. Overall, imports saw buoyant growth. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Turkey (X tons) constituted the largest processed petroleum oils and distillates supplier to Romania, accounting for a X% share of total imports. Moreover, processed petroleum oils and distillates imports from Turkey exceeded the figures recorded by the second-largest supplier, Hungary (X tons), fivefold. The third position in this ranking was taken by Italy (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (X% per year) and Italy (X% per year).

In value terms, Turkey ($X) constituted the largest supplier of processed petroleum oils and distillates to Romania, comprising X% of total imports. The second position in the ranking was held by Italy ($X), with a X% share of total imports. It was followed by India, with a X% share.

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

Import Prices by Country

In 2022, the average import price for processed petroleum oils and distillates amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the import price recorded a deep reduction. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 Germany ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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