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Singapore - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSingapore: Crude Oil Market 2024
Crude Oil Market Size in Singapore
In 2023, after two years of growth, there was significant decline in the Singaporean crude oil market, when its value decreased by X% to $X. Over the period under review, consumption showed a perceptible descent. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.
Crude Oil Exports
Exports from Singapore
In 2023, shipments abroad of crude petroleum oil was finally on the rise to reach X tons for the first time since 2016, thus ending a six-year declining trend. In general, exports, however, recorded a dramatic downturn. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2023, the exports failed to regain momentum.
In value terms, crude oil exports skyrocketed to $X in 2023. Overall, exports, however, saw a abrupt shrinkage. The exports peaked at $X in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.
Exports by Country
Japan (X tons) was the main destination for crude oil exports from Singapore, accounting for a X% share of total exports. Moreover, crude oil exports to Japan exceeded the volume sent to the second major destination, Malaysia (X tons), more than tenfold. The third position in this ranking was held by the United States (X kg), with less than X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume to Japan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and the United States (X% per year).
In value terms, Japan ($X) emerged as the key foreign market for crude petroleum oil exports from Singapore, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports. It was followed by Australia, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value to Japan totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Australia (X% per year).
Export Prices by Country
In 2023, the average crude oil export price amounted to $X per ton, reducing by X% against the previous year. In general, the export price, however, saw a buoyant increase. The growth pace was the most rapid in 2019 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2022, and then reduced markedly in the following year.
There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (X%), while the prices for the other major destinations experienced more modest paces of growth.
Crude Oil Imports
Imports into Singapore
In 2023, after two years of growth, there was decline in supplies from abroad of crude petroleum oil, when their volume decreased by X% to X tons. Overall, imports saw a mild reduction. The most prominent rate of growth was recorded in 2017 when imports increased by X%. As a result, imports reached the peak of X tons. From 2018 to 2023, the growth of imports remained at a somewhat lower figure.
In value terms, crude oil imports reduced markedly to $X in 2023. Over the period under review, imports recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.
Imports by Country
The United States (X tons), the United Arab Emirates (X tons) and Qatar (X tons) were the main suppliers of crude oil imports to Singapore, together accounting for X% of total imports. Saudi Arabia, Brazil, Australia, Iraq, Malaysia, Russia, Indonesia and Kuwait lagged somewhat behind, together accounting for a further X%.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the United States ($X), the United Arab Emirates ($X) and Qatar ($X) were the largest crude oil suppliers to Singapore, together accounting for X% of total imports. Saudi Arabia, Brazil, Australia, Iraq, Malaysia, Russia, Indonesia and Kuwait lagged somewhat behind, together comprising a further X%.
In terms of the main suppliers, Brazil, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2023, the average crude oil import price amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price saw a perceptible curtailment. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were Russia ($X per ton) and Malaysia ($X per ton), while the price for Iraq ($X per ton) and Brazil ($X per ton) were amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced a decline.
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This report provides an in-depth analysis of the crude oil market in Singapore. 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:
- Singapore
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Singapore
- 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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