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Kuwait - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingKuwait: Crude Oil Market 2024
Crude Oil Market Size in Kuwait
In 2023, the Kuwaiti crude oil market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Over the period under review, consumption, however, showed a noticeable downturn. Crude oil consumption peaked at $X in 2014; however, from 2015 to 2023, consumption stood at a somewhat lower figure.
Crude Oil Production in Kuwait
In value terms, crude oil production reduced to $X in 2023 estimated in export price. Overall, production, however, saw a perceptible downturn. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Crude oil production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.
Crude Oil Exports
Exports from Kuwait
In 2023, crude oil exports from Kuwait totaled X tons, approximately reflecting the previous year. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.
In value terms, crude oil exports shrank dramatically to $X in 2023. In general, exports, however, showed a noticeable decrease. The most prominent rate of growth was recorded in 2022 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.
Exports by Country
China (X tons) was the main destination for crude oil exports from Kuwait, with a X% share of total exports. Moreover, crude oil exports to China exceeded the volume sent to the second major destination, Japan (X tons), twofold. The third position in this ranking was held by India (X tons), with a X% share.
From 2012 to 2023, the average annual growth rate of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and India (X% per year).
In value terms, China ($X) remains the key foreign market for crude petroleum oil exports from Kuwait, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports. It was followed by India, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and India (X% per year).
Export Prices by Country
In 2023, the average crude oil export price amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price recorded a pronounced contraction. The pace of growth was the most pronounced in 2022 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major foreign markets. In 2023, amid the top suppliers, the highest price was recorded for prices to Singapore ($X per ton) and India ($X per ton), while the average price for exports to the United States ($X per ton) and Egypt ($X per ton) were amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced a decline.
Crude Oil Imports
Imports into Kuwait
After six years of growth, overseas purchases of crude petroleum oil decreased by X% to X tons in 2023. Over the period under review, imports continue to indicate a precipitous curtailment. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2023, imports failed to regain momentum.
In value terms, crude oil imports shrank remarkably to $X in 2023. In general, imports recorded a significant decrease. The most prominent rate of growth was recorded in 2022 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2023, imports remained at a lower figure.
Imports by Country
In 2023, the United Arab Emirates (X tons) was the main crude oil supplier to Kuwait, with a approx. X% share of total imports.
From 2015 to 2023, the average annual growth rate of volume from the United Arab Emirates stood at X%.
In value terms, the United Arab Emirates ($X) constituted the largest supplier of crude petroleum oil to Kuwait.
From 2015 to 2023, the average annual rate of growth in terms of value from the United Arab Emirates stood at X%.
Import Prices by Country
In 2023, the average crude oil import price amounted to $X per ton, standing approx. at the previous year. Over the period under review, the import price, however, showed a significant increase. The most prominent rate of growth was recorded in 2022 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton, leveling off in the following year.
As there is only one major supplying country, the average price level is determined by prices for the United Arab Emirates.
From 2015 to 2023, the rate of growth in terms of prices for the United Arab Emirates amounted to X% per year.
Source: IndexBox Platform
This report provides an in-depth analysis of the crude oil market in Kuwait. 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:
- Kuwait
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Kuwait
- 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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