Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Venezuela - 2022

Contents:

1. Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Venezuela (FOB) - 2022
2. Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Venezuela (CIF) - 2022
3. Exports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Venezuela
4. Imports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Venezuela

Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Venezuela (FOB) - 2022

The average export price for residues; of petroleum oils or of oils obtained from bituminous mineralses stood at $298 per ton in 2022, shrinking by -4.3% against the previous year. Overall, the export price, however, recorded a perceptible increase. The pace of growth appeared the most rapid in 2013 when the average export price increased by 105%. As a result, the export price attained the peak level of $402 per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to -0.2% per year.

Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Venezuela (CIF) - 2022

In 2022, the average import price for residues; of petroleum oils or of oils obtained from bituminous mineralses amounted to $2,271 per ton, waning by -6.9% against the previous year. Overall, the import price, however, recorded a noticeable expansion. The growth pace was the most rapid in 2021 when the average import price increased by 32%. As a result, import price reached the peak level of $2,440 per ton, and then reduced in the following year.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +2.6% per year.

Exports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Venezuela

After three years of growth, shipments abroad of residues; of petroleum oils or of oils obtained from bituminous mineralses decreased by -2.8% to 1.9K tons in 2022. The total export volume increased at an average annual rate of +2.9% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 5.8%. As a result, the exports attained the peak of 2K tons, and then fell modestly in the following year.

In value terms, exports of residues; of petroleum oils or of oils obtained from bituminous mineralses contracted to $566K in 2022. The total export value increased at an average annual rate of +7.8% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 16% against the previous year. As a result, the exports reached the peak of $608K, and then reduced in the following year.

Top Export Markets for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals from Venezuela in 2022:

1. United States (1.9K tons)

Imports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Venezuela

In 2022, approx. 27 tons of residues; of petroleum oils or of oils obtained from bituminous mineralses were imported into Venezuela; with a decrease of -30.3% on the previous year's figure. Overall, imports, however, recorded strong growth. The pace of growth was the most pronounced in 2021 with an increase of 153% against the previous year. As a result, imports reached the peak of 38 tons, and then reduced remarkably in the following year.

In value terms, imports of residues; of petroleum oils or of oils obtained from bituminous mineralses shrank rapidly to $60K in 2022. In general, imports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 235% against the previous year. As a result, imports attained the peak of $93K, and then dropped notably in the following year.

Top Suppliers of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals to Venezuela in 2022:

1. United States (26.5 tons)

Source: IndexBox Market Intelligence Platform