Thailand - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingCrude Oil Price in Thailand - 2023
Contents:
- Crude Oil Price in Thailand (CIF) - 2023
- Crude Oil Price in Thailand (FOB) - 2022
- Crude Oil Imports in Thailand
- Crude Oil Exports in Thailand
Crude Oil Price in Thailand (CIF) - 2023
In July 2023, the average crude oil import price amounted to $556 per ton, rising by 2.5% against the previous month. Over the period under review, the import price, however, saw a perceptible contraction. The pace of growth was the most pronounced in November 2022 an increase of 8.9% month-to-month. Over the period under review, average import prices reached the peak figure at $744 per ton in July 2022; however, from August 2022 to July 2023, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In July 2023, the countries with the highest prices were Libya ($611 per ton) and Malaysia ($591 per ton), while the price for Saudi Arabia ($523 per ton) and the United Arab Emirates ($548 per ton) were amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Brazil (-0.9%), while the prices for the other major suppliers experienced a decline.
Crude Oil Price in Thailand (FOB) - 2022
In 2022, the average crude oil export price amounted to $620 per ton, with an increase of 78% against the previous year. Overall, the export price, however, continues to indicate a perceptible descent. Over the period under review, the average export prices hit record highs at $766 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($1,000 per ton), while the average price for exports to South Korea ($444 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+2.6%), while the prices for the other major destinations experienced a decline.
Crude Oil Imports in Thailand
Crude oil imports into Thailand expanded modestly to 53M tons in 2022, growing by 2.6% compared with 2021. The total import volume increased at an average annual rate of +6.5% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 22% against the previous year. As a result, imports reached the peak of 54M tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, crude oil imports skyrocketed to $36.3B in 2022. Overall, imports saw significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
Import of Crude Oil in Thailand (Billion USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United Arab Emirates | N/A | 4.1 | 6.3 | 14.0 | 84.8% |
Saudi Arabia | 5.7 | 2.8 | 4.3 | 5.0 | -4.3% |
United States | 2.6 | 1.5 | 1.6 | 2.8 | 2.5% |
Malaysia | 2.3 | 0.9 | 1.1 | 2.1 | -3.0% |
Libya | 0.6 | 0.3 | 1.0 | 1.8 | 44.2% |
Angola | 0.7 | 1.1 | 1.4 | 1.6 | 31.7% |
Australia | 1.0 | 0.8 | 1.0 | 1.3 | 9.1% |
Indonesia | 1.0 | 0.6 | 1.4 | 1.3 | 9.1% |
Qatar | 1.8 | 0.5 | 0.8 | 1.2 | -12.6% |
Nigeria | 0.5 | 0.9 | 0.5 | 0.9 | 21.6% |
Vietnam | 0.4 | 0.4 | 0.6 | 0.7 | 20.5% |
Brunei Darussalam | 0.7 | 0.3 | 0.4 | 0.3 | -24.6% |
Russia | 1.5 | 0.9 | 0.8 | 0.3 | -41.5% |
Others | 2.1 | 1.0 | 2.2 | 3.0 | 12.6% |
Total | 20.9 | 16.2 | 23.4 | 36.3 | 20.2% |
Top Suppliers of Crude Oil to Thailand in 2022:
- United Arab Emirates (21.0M tons)
- Saudi Arabia (7.6M tons)
- United States (4.0M tons)
- Malaysia (2.9M tons)
- Libya (2.5M tons)
- Angola (2.2M tons)
- Australia (2.0M tons)
- Qatar (1.8M tons)
- Indonesia (1.7M tons)
- Nigeria (1.3M tons)
- Vietnam (0.9M tons)
- Brunei Darussalam (0.4M tons)
- Russia (0.4M tons)
Crude Oil Exports in Thailand
In 2022, the amount of crude petroleum oil exported from Thailand dropped sharply to 788K tons, shrinking by -34.1% compared with the year before. Overall, exports continue to indicate a dramatic slump. The smallest decline of -0.4% was in 2021.
In value terms, crude oil exports soared to $489M in 2022. Over the period under review, exports saw a deep setback.
Export of Crude Oil in Thailand (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Malaysia | 228 | 147 | 45.7 | 315 | 11.4% |
China | 298 | 174 | 254 | 145 | -21.3% |
Singapore | 120 | 39.0 | 75.6 | 28.8 | -37.9% |
Australia | 18.1 | N/A | 21.2 | N/A | 8.2% |
Others | N/A | 5.4 | 20.1 | N/A | 272.2% |
Total | 664 | 365 | 417 | 489 | -9.7% |
Top Export Markets for Crude Oil from Thailand in 2022:
- Malaysia (516.0K tons)
- China (234.4K tons)
- Singapore (37.9K tons)
This report provides an in-depth analysis of the crude oil market in Thailand. 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:
- Thailand
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Thailand
- 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
This report provides an in-depth analysis of the crude oil market in Thailand.
This report provides an in-depth analysis of the market for crude oil and processed petroleum in Thailand.
This report provides an in-depth analysis of the global crude oil market.
This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
This report provides an in-depth analysis of the crude oil market in Thailand.
This report provides an in-depth analysis of the market for crude oil and processed petroleum in Thailand.
This report provides an in-depth analysis of the global crude oil market.
This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
According to September 2023 data, imports dropped by -12.9% compared to the indices in June 2023. The value of Crude Oil imports reached $3B in September 2023.
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.
According to September 2023 data, imports dropped by -12.9% compared to the indices in June 2023. The value of Crude Oil imports reached $3B in September 2023.
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.