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MENA - Crude Oil and Processed Petroleum - Market Analysis, Forecast, Size, Trends and Insights
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View PricingMENA: Market for Crude Oil and Processed Petroleum 2024
Market Size for Crude Oil and Processed Petroleum in MENA
The MENA's market for crude oil and processed petroleum fell to $X in 2023, which is down by X% against the previous year. Over the period under review, consumption showed a noticeable downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.
Production of Crude Oil and Processed Petroleum in MENA
In value terms, crude oil and processed petroleum production soared to $X.8B in 2023 estimated in export price. Overall, production recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of production peaked at $X.4B in 2018; however, from 2019 to 2023, production remained at a lower figure.
Exports of Crude Oil and Processed Petroleum
Exports in MENA
Crude oil and processed petroleum exports surged to X tons in 2023, increasing by X% on the previous year's figure. Total exports indicated a notable increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X%. The volume of export peaked in 2023 and is expected to retain growth in the near future.
In value terms, crude oil and processed petroleum exports soared to $X in 2023. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.
Exports by Country
In 2023, Saudi Arabia (X tons), distantly followed by the United Arab Emirates (X tons), Iraq (X tons), Kuwait (X tons), Iran (X tons) and Oman (X tons) were the main exporters of crude oil and processed petroleum, together committing X% of total exports. Libya (X tons) held a minor share of total exports.
From 2012 to 2023, the biggest increases were recorded for Iraq (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Iraq ($X) appeared to be the countries with the highest levels of exports in 2023, together accounting for X% of total exports.
The United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2023, the export price in MENA amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price continues to indicate a pronounced curtailment. The pace of growth appeared the most rapid in 2022 an increase of X%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.
Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in the United Arab Emirates ($X per ton) and Oman ($X per ton), while Iran ($X per ton) and Iraq ($X per ton) were amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced a decline in the export price figures.
Imports of Crude Oil and Processed Petroleum
Imports in MENA
Crude oil and processed petroleum imports expanded notably to X tons in 2023, increasing by X% against 2022. Total imports indicated a noticeable increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.
In value terms, crude oil and processed petroleum imports totaled $X in 2023. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. The level of import peaked in 2023 and is likely to see steady growth in years to come.
Imports by Country
In 2023, the United Arab Emirates (X tons), Turkey (X tons) and Israel (X tons) represented the major importer of crude oil and processed petroleum in MENA, comprising X% of total import. Egypt (X tons) took the next position in the ranking, followed by Saudi Arabia (X tons), Iraq (X tons) and Morocco (X tons). All these countries together took approx. X% share of total imports. Lebanon (X tons), Libya (X tons), Tunisia (X tons), Algeria (X tons), Oman (X tons) and Jordan (X tons) followed a long way behind the leaders.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Saudi Arabia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest crude oil and processed petroleum importing markets in MENA were the United Arab Emirates ($X), Turkey ($X) and Saudi Arabia ($X), together comprising X% of total imports.
Saudi Arabia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
The import price in MENA stood at $X per ton in 2023, with a decrease of X% against the previous year. Overall, the import price recorded a perceptible reduction. The pace of growth appeared the most rapid in 2022 when the import price increased by X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Libya ($X per ton), while Israel ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Libya (X%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for crude oil and processed petroleum in MENA. 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:
- Algeria
- Bahrain
- Djibouti
- Egypt
- Iran
- Iraq
- Israel
- Jordan
- Kuwait
- Lebanon
- Libya
- Morocco
- Oman
- Palestine
- Qatar
- Saudi Arabia
- Syrian Arab Republic
- Tunisia
- Turkey
- United Arab Emirates
- Yemen
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in MENA, split by region and country
- Trade (exports and imports) in MENA
- 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
- CONSUMPTION BY COUNTRY
- 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
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- 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 -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Algeria
- Bahrain
- Djibouti
- Egypt
- Iran
- Iraq
- Israel
- Jordan
- Kuwait
- Lebanon
- Libya
- Morocco
- Oman
- Palestine
- Qatar
- Saudi Arabia
- Syrian Arab Republic
- Tunisia
- Turkey
- United Arab Emirates
- Yemen
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 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
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 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, 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, 2012–2023
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