Report Update Apr 1, 2024

Romania - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends and Insights

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Romania: Crude Oil Market 2024

Crude Oil Market Size in Romania

In 2022, the Romanian crude oil market increased by X% to $X, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Crude Oil Production in Romania

In value terms, crude oil production reduced to $X in 2022 estimated in export price. In general, production showed a abrupt contraction. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Crude oil production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Crude Oil Exports

Exports from Romania

In 2022, approx. X tons of crude petroleum oil were exported from Romania; increasing by X% on the previous year's figure. In general, exports, however, continue to indicate a noticeable shrinkage. The pace of growth was the most pronounced in 2019 when exports increased by X%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, crude oil exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Serbia (X tons) was the main destination for crude oil exports from Romania, with a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Serbia stood at X%.

In value terms, Serbia ($X) also remains the key foreign market for crude petroleum oil exports from Romania.

From 2012 to 2022, the average annual rate of growth in terms of value to Serbia stood at X%.

Export Prices by Country

The average crude oil export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Serbia.

From 2012 to 2022, the rate of growth in terms of prices for Ukraine amounted to X% per year.

Crude Oil Imports

Imports into Romania

In 2022, purchases abroad of crude petroleum oil was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, crude oil imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a measured increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Kazakhstan (X tons), Russia (X tons) and Azerbaijan (X tons) were the main suppliers of crude oil imports to Romania, together comprising X% of total imports. Iraq and Tunisia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Tunisia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X) constituted the largest supplier of crude petroleum oil to Romania, comprising X% of total imports. The second position in the ranking was taken by Russia ($X), with a X% share of total imports. It was followed by Azerbaijan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Kazakhstan stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (X% per year) and Azerbaijan (X% per year).

Import Prices by Country

The average crude oil import price stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the import price, however, saw a slight slump. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Azerbaijan ($X per ton) and Kazakhstan ($X per ton), while the price for Russia ($X per ton) and Iraq ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for crude petroleum oil in the world?

The countries with the highest volumes of consumption in 2023 were the United States, China and Saudi Arabia, together comprising 43% of global consumption.

What are the largest producers of crude petroleum oil in the world?

The countries with the highest volumes of production in 2022 were the United States, Russia and Saudi Arabia, with a combined 40% share of global production.

What are the leading suppliers of crude petroleum oil to Romania?

In value terms, Kazakhstan constituted the largest supplier of crude petroleum oil to Romania, comprising 54% of total imports. The second position in the ranking was held by Russia, with a 24% share of total imports. It was followed by Azerbaijan, with a 9.2% share.

What are the leading importers of crude petroleum oil from Romania?

In value terms, Serbia remains the key foreign market for crude petroleum oil exports from Romania.

What is the average export price for crude petroleum oil in Romania?

The average crude oil export price stood at $754 per ton in 2022, growing by 37% against the previous year.

What is the average import price for crude petroleum oil in Romania?

In 2022, the average crude oil import price amounted to $673 per ton, growing by 35% against the previous year.

This report provides an in-depth analysis of the crude oil market in Romania. 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:

Romania

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Romania
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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023