Turkey - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingCrude Oil Price in Turkey - 2022
Contents:
- Crude Oil Price in Turkey (CIF) - 2022
- Crude Oil Price in Turkey (FOB) - 2022
- Crude Oil Imports in Turkey
- Crude Oil Exports in Turkey
Crude Oil Price in Turkey (CIF) - 2022
The average crude oil import price stood at $525 per ton in 2022, declining by -2.4% against the previous year. In general, the import price continues to indicate a drastic downturn. The growth pace was the most rapid in 2018 when the average import price increased by 42%. Over the period under review, average import prices reached the peak figure at $936 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Nigeria ($646 per ton) and Kazakhstan ($512 per ton), while the price for Azerbaijan ($468 per ton) and Norway ($498 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+6.0%), while the prices for the other major suppliers experienced a decline.
Crude Oil Price in Turkey (FOB) - 2022
In 2022, the average crude oil export price amounted to $745 per ton, picking up by 47% against the previous year. In general, the export price recorded a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $806 per ton in 2013; however, from 2014 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 highest price was recorded for prices to India ($766 per ton) and the UK ($742 per ton), while the average price for exports to Tunisia ($641 per ton) and Italy ($681 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 Italy (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.
Crude Oil Imports in Turkey
In 2022, crude oil imports into Turkey declined to 9.3M tons, dropping by -13% on the year before. The total import volume increased at an average annual rate of +5.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 35%. As a result, imports attained the peak of 11M tons, and then fell in the following year.
In value terms, crude oil imports fell notably to $4.9B in 2022. Overall, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +18.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +66.1% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 44% against the previous year. As a result, imports attained the peak of $5.7B, and then reduced dramatically in the following year.
| Import of Crude Oil in Turkey (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Kazakhstan | 692 | 1,226 | 1,668 | 3,078 | 64.5% |
| Nigeria | 346 | 812 | 518 | 919 | 38.5% |
| Azerbaijan | 185 | 222 | 332 | 533 | 42.3% |
| Norway | 50.9 | 731 | 860 | 217 | 62.1% |
| Russia | 1,634 | 884 | 2,106 | N/A | 13.5% |
| Others | 19.5 | 120 | 248 | 116 | 81.2% |
| Total | 2,927 | 3,995 | 5,733 | 4,864 | 18.4% |
Top Suppliers of Crude Petroleum Oil to Turkey in 2022:
- Kazakhstan (6.0M tons)
- Nigeria (1.4M tons)
- Azerbaijan (1.1M tons)
- Norway (0.4M tons)
Crude Oil Exports in Turkey
In 2022, the amount of crude petroleum oil exported from Turkey skyrocketed to 4M tons, rising by 62% against 2021. Over the period under review, exports continue to indicate a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, crude oil exports soared to $3B in 2022. Overall, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Crude Oil in Turkey (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 910 | 455 | 555 | 1,366 | 14.5% |
| Romania | N/A | N/A | 434 | 920 | 112.0% |
| United Kingdom | 356 | 77.7 | 50.6 | 368 | 1.1% |
| Tunisia | N/A | N/A | N/A | 120 | 0% |
| Indonesia | N/A | N/A | N/A | 62.4 | 0% |
| Italy | 79.7 | 29.2 | 132 | 47.5 | -15.8% |
| Spain | 37.0 | 72.8 | N/A | N/A | 96.8% |
| Thailand | 173 | 155 | N/A | N/A | -10.4% |
| Others | 48.1 | 36.3 | 68.3 | 72.9 | 14.9% |
| Total | 1,604 | 826 | 1,241 | 2,957 | 22.6% |
Top Export Markets for Crude Petroleum Oil from Turkey in 2022:
- India (1782.4K tons)
- Romania (1310.1K tons)
- United Kingdom (495.9K tons)
- Tunisia (187.3K tons)
- Indonesia (87.3K tons)
- Italy (69.8K tons)
This report provides an in-depth analysis of the crude oil market in Turkey. 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:
- Turkey
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Turkey
- 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
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This report provides an in-depth analysis of the crude oil market in Turkey.
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This report provides an in-depth analysis of the market for crude oil and processed petroleum in Turkey.
500
This report provides an in-depth analysis of the global crude oil market.
236
This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
435
This report provides an in-depth analysis of the crude oil market in Turkey.
173
This report provides an in-depth analysis of the market for crude oil and processed petroleum in Turkey.
500
This report provides an in-depth analysis of the global crude oil market.
236
This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
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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.
1230
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.
