Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in the United States - 2023
Contents:
- Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in the United States (FOB) - 2023
- Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in the United States (CIF) - 2022
- Exports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in the United States
- Imports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in the United States
Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in the United States (FOB) - 2023
In September 2023, the average export price for residues; of petroleum oils or of oils obtained from bituminous mineralses amounted to $294 per ton, reducing by -47.2% against the previous month. Overall, the export price showed a deep downturn. The growth pace was the most rapid in August 2023 when the average export price increased by 58% against the previous month. As a result, the export price attained the peak level of $556 per ton, and then reduced markedly in the following month.
There were significant differences in the average prices for the major export markets. In September 2023, the country with the highest price was China ($507 per ton), while the average price for exports to Vietnam ($126 per ton) was amongst the lowest.
From December 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (-1.1%), while the prices for the other major destinations experienced a decline.
Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in the United States (CIF) - 2022
The average import price for residues; of petroleum oils or of oils obtained from bituminous mineralses stood at $441 per ton in 2022, dropping by -50.6% against the previous year. Overall, the import price continues to indicate a pronounced decrease. The pace of growth was the most pronounced in 2021 when the average import price increased by 354%. As a result, import price attained the peak level of $892 per ton, and then declined dramatically in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($483 per ton), while the price for Canada stood at $135 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Trinidad and Tobago (+19.7%), while the prices for the other major suppliers experienced a decline.
Exports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in the United States
After three years of growth, shipments abroad of residues; of petroleum oils or of oils obtained from bituminous mineralses decreased by -65.5% to 38K tons in 2022. In general, exports saw a dramatic setback. The most prominent rate of growth was recorded in 2020 when exports increased by 32%.
In value terms, exports of residues; of petroleum oils or of oils obtained from bituminous mineralses reduced remarkably to $17M in 2022. Over the period under review, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 42%. As a result, the exports reached the peak of $44M, and then contracted notably in the following year.
| Export of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 8.9 | 12.2 | 26.7 | 8.7 | -0.8% |
| Mexico | 16.0 | 7.2 | 7.9 | 6.5 | -25.9% |
| Vietnam | 0.1 | 0.1 | 0.8 | 0.5 | 71.0% |
| Italy | N/A | N/A | 5.3 | N/A | 0% |
| Others | 4.4 | 11.5 | 3.3 | 1.4 | -31.7% |
| Total | 29.4 | 31.0 | 44.0 | 17.1 | -16.5% |
Top Export Markets for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals from the United States in 2022:
- Canada (20.6K tons)
- Mexico (13.9K tons)
- Vietnam (1.5K tons)
Imports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in the United States
In 2022, overseas purchases of residues; of petroleum oils or of oils obtained from bituminous mineralses increased by 1,715% to 3.1K tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, saw a sharp curtailment.
In value terms, imports of residues; of petroleum oils or of oils obtained from bituminous mineralses soared to $1.4M in 2022. Over the period under review, imports, however, faced a sharp curtailment.
| Import of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | N/A | N/A | N/A | 1.1 | 0% |
| Canada | 18.3 | 1.2 | N/A | 0.1 | -82.4% |
| Others | 0.2 | N/A | 0.1 | 0.1 | -20.6% |
| Total | 18.6 | 1.2 | 0.2 | 1.4 | -57.8% |
Top Suppliers of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals to the United States in 2022:
- Mexico (2.4K tons)
- Canada (0.7K tons)
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