United Arab Emirates: Market for Crude Oil and Processed Petroleum 2024

Market Size for Crude Oil and Processed Petroleum in the United Arab Emirates

For the fourth year in a row, the market for crude oil and processed petroleum in the United Arab Emirates recorded decline in sales value, which decreased by X% to $X in 2022. In general, consumption showed a abrupt downturn. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Production of Crude Oil and Processed Petroleum in the United Arab Emirates

In value terms, crude oil and processed petroleum production reduced to $X in 2022 estimated in export price. In general, production, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Crude Oil and Processed Petroleum

Exports from the United Arab Emirates

Crude oil and processed petroleum exports from the United Arab Emirates surged to X tons in 2022, with an increase of X% against the previous year's figure. In general, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, crude oil and processed petroleum exports soared to $X in 2022. Over the period under review, exports continue to indicate a pronounced expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Singapore (X tons), South Korea (X tons) and Pakistan (X tons) were the main destinations of crude oil and processed petroleum exports from the United Arab Emirates, together accounting for X% of total exports. China, Japan, Taiwan (Chinese), South Africa, Kenya, India, Mozambique, the UK, Thailand and Tanzania 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 Mozambique (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Singapore ($X) and Pakistan ($X) constituted the largest markets for crude oil and processed petroleum exported from the United Arab Emirates worldwide, with a combined X% share of total exports. Japan, South Africa, Kenya, Taiwan (Chinese), the UK, China, India, Tanzania, Thailand and Mozambique lagged somewhat behind, together accounting for a further X%.

South Africa, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 export price for crude oil and processed petroleum stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the export price, however, showed a perceptible curtailment. The pace of growth appeared the most rapid in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure 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 UK ($X per ton), while the average price for exports to Mozambique ($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 Kenya (X%), while the prices for the other major destinations experienced a decline.

Imports of Crude Oil and Processed Petroleum

Imports into the United Arab Emirates

After two years of growth, overseas purchases of crude oil and processed petroleum decreased by X% to X tons in 2022. In general, imports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2016 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2021, and then shrank dramatically in the following year.

In value terms, crude oil and processed petroleum imports dropped to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of crude oil and processed petroleum to the United Arab Emirates, with a X% share of total imports. Moreover, crude oil and processed petroleum imports from India exceeded the figures recorded by the second-largest supplier, Qatar (X tons), sixfold. Malaysia (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, India ($X) constituted the largest supplier of crude oil and processed petroleum to the United Arab Emirates, comprising X% of total imports. The second position in the ranking was held by Qatar ($X), with a X% share of total imports. It was followed by Libya, with a X% share.

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

Import Prices by Country

In 2022, the average import price for crude oil and processed petroleum amounted to $X per ton, growing by X% against the previous year. Overall, the import price, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Libya ($X per ton), while the price for Kuwait ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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