Lithuania - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingCrude Oil Price in Lithuania - 2023
Contents:
- Crude Oil Price in Lithuania (CIF) - 2023
- Crude Oil Price in Lithuania (FOB) - 2022
- Crude Oil Imports in Lithuania
- Crude Oil Exports in Lithuania
Crude Oil Price in Lithuania (CIF) - 2023
The average crude oil import price stood at $756 per ton in September 2023, surging by 7.7% against the previous month. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2023 when the average import price increased by 10% m-o-m. The import price peaked in September 2023.
Average prices varied noticeably amongst the major supplying countries. In September 2023, the country with the highest price was the United States ($842 per ton), while the price for Saudi Arabia ($709 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by the United States (+1.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Crude Oil Price in Lithuania (FOB) - 2022
The average crude oil export price stood at $756 per ton in 2022, rising by 43% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 58% against the previous year. Over the period under review, the average export prices reached the peak figure at $808 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for Poland.
From 2012 to 2022, the rate of growth in terms of prices for Poland amounted to +0.9% per year.
Crude Oil Imports in Lithuania
In 2022, the amount of crude petroleum oil imported into Lithuania rose slightly to 8.2M tons, increasing by 1.6% compared with the previous year. Overall, imports, however, saw a perceptible reduction. The pace of growth appeared the most rapid in 2021 when imports increased by 8.9%.
In value terms, crude oil imports surged to $6.1B in 2022. In general, imports recorded strong growth. The pace of growth was the most pronounced in 2021 with an increase of 74%. Imports peaked in 2022 and are likely to see gradual growth in years to come.
Import of Crude Oil in Lithuania (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Saudi Arabia | 280 | 186 | N/A | 2,224 | 99.5% |
United Kingdom | 44.0 | N/A | N/A | 1,096 | 192.0% |
Norway | N/A | N/A | N/A | 955 | 0% |
Russia | 3,303 | 1,542 | 2,725 | 754 | -38.9% |
United States | 40.7 | N/A | 248 | 530 | 135.3% |
Kazakhstan | 741 | 662 | 1,225 | 417 | -17.4% |
Algeria | N/A | N/A | N/A | 125 | 0% |
Others | 0.2 | 25.0 | 0.5 | 8.1 | 243.4% |
Total | 4,410 | 2,415 | 4,198 | 6,109 | 11.5% |
Top Suppliers of Crude Oil to Lithuania in 2022:
- Saudi Arabia (3.0M tons)
- United Kingdom (1.3M tons)
- Norway (1.3M tons)
- Russia (1.1M tons)
- United States (0.7M tons)
- Kazakhstan (0.6M tons)
- Algeria (0.2M tons)
Crude Oil Exports in Lithuania
In 2022, shipments abroad of crude petroleum oil was finally on the rise to reach 23K tons after two years of decline. In general, exports, however, saw a deep contraction.
In value terms, crude oil exports skyrocketed to $17M in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern.
Export of Crude Oil in Lithuania (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Poland | 17.5 | 12.3 | 10.3 | 17.2 | -0.6% |
Others | N/A | N/A | 0.4 | N/A | 0% |
Total | 17.5 | 12.3 | 10.7 | 17.2 | -0.6% |
Top Export Markets for Crude Oil from Lithuania in 2022:
- Poland (22.8K tons)
This report provides an in-depth analysis of the crude oil market in Lithuania. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
Country coverage:
- Lithuania
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Lithuania
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
This report provides an in-depth analysis of the crude oil market in Lithuania.
This report provides an in-depth analysis of the market for crude oil and processed petroleum in Lithuania.
This report provides an in-depth analysis of the global crude oil market.
This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
This report provides an in-depth analysis of the crude oil market in Lithuania.
This report provides an in-depth analysis of the market for crude oil and processed petroleum in Lithuania.
This report provides an in-depth analysis of the global crude oil market.
This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
Explore the top import markets for crude oil and examine key statistics related to their import value. China, the United States, and India lead the pack.
Explore the top import markets for crude oil and examine key statistics related to their import value. China, the United States, and India lead the pack.