U.S. - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingCrude Oil Prices in the United States
U.S. Crude Oil Import Price per Ton in August 2022
In August 2022, the crude oil price per ton amounted to $689.8 (CIF, US), reducing by -8.2% against the previous month. Over the last seven months, it increased at an average monthly rate of +4.4%. The growth pace was the most rapid in March 2022 an increase of 14% against the previous month. Over the period under review, average import prices reached the peak figure at $770.7 per ton in June 2022; however, from July 2022 to August 2022, import prices stood at a somewhat lower figure.
Average prices varied somewhat amongst the major supplying countries. In August 2022, the highest price was recorded for prices from Nigeria ($858.0 per ton) and Brazil ($776.0 per ton), while the price for Mexico ($658.0 per ton) and Canada ($664.0 per ton) were amongst the lowest.
From January 2022 to August 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.
U.S. Crude Oil Imports
For the fourth consecutive month, the United States recorded growth in supplies from abroad of crude petroleum oil, which increased by 0.9% to 27M tons in August 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2022 when imports increased by 14% month-to-month. Imports peaked in August 2022.
In value terms, crude oil imports shrank to $18.7B (IndexBox estimates) in August 2022. The total import value increased at an average monthly rate of +4.7% from January 2022 to August 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain months. The growth pace was the most rapid in March 2022 with an increase of 30% against the previous month.
U.S. Crude Oil Imports by Country
In August 2022, Canada (17M tons) constituted the largest crude oil supplier to the United States, accounting for a 62% share of total imports. Moreover, crude oil imports from Canada exceeded the figures recorded by the second-largest supplier, Mexico (2.7M tons), sixfold. The third position in this ranking was held by Saudi Arabia (1.6M tons), with a 6.1% share.
From January 2022 to August 2022, the average monthly rate of growth in terms of volume from Canada was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: Mexico (-0.5% per month) and Saudi Arabia (-2.4% per month).
In value terms, Canada ($11.1B) constituted the largest supplier of crude oil to the United States, comprising 60% of total imports. The second position in the ranking was held by Mexico ($1.8B), with a 9.5% share of total imports. It was followed by Saudi Arabia, with a 6.5% share.
From January 2022 to August 2022, the average monthly rate of growth in terms of value from Canada stood at +5.2%. The remaining supplying countries recorded the following average monthly rates of imports growth: Mexico (+2.7% per month) and Saudi Arabia (+1.1% per month).
This report provides an in-depth analysis of the crude oil market in the U.S.. 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:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- 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 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- 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 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- 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, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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