Report Update Nov 1, 2024

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

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Angola: Crude Oil Market 2024

Crude Oil Market Size in Angola

The Angolan crude oil market contracted sharply to $X in 2022, waning by -15.3% against the previous year. Overall, consumption, however, continues to indicate a significant increase. Over the period under review, the market reached the peak level at $X in 2021, and then declined sharply in the following year.

Crude Oil Production in Angola

In value terms, crude oil production contracted to $X in 2022 estimated in export price. In general, production saw a deep slump. The pace of growth appeared the most rapid in 2021 with an increase of 13%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Crude Oil Exports

Exports from Angola

After five years of decline, shipments abroad of crude petroleum oil increased by 376% to X tons in 2022. Overall, exports, however, faced a sharp slump. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude oil exports soared to $X in 2022. In general, exports, however, showed a deep reduction. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons), China (X tons) and Colombia (X tons) were the main destinations of crude oil exports from Angola, with a combined 64% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Colombia (with a CAGR of +11.6%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for crude petroleum oil exports from Angola, comprising 56% of total exports. The second position in the ranking was taken by India ($X), with a 7.8% share of total exports. It was followed by France, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value to China stood at -15.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-18.3% per year) and France (-4.8% per year).

Export Prices by Country

In 2022, the average crude oil export price amounted to $X per ton, waning by -12.2% against the previous year. In general, the export price, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by 335%. The export price peaked at $X per ton in 2018; however, from 2019 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 ($X per ton), while the average price for exports to Indonesia ($X 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 (+17.7%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Oil Imports

Imports into Angola

In 2022, overseas purchases of crude petroleum oil were finally on the rise to reach X kg after three years of decline. In general, imports, however, showed a precipitous shrinkage. The growth pace was the most rapid in 2018 when imports increased by 120%. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, crude oil imports fell to $X in 2022. Over the period under review, imports, however, saw a sharp curtailment. The most prominent rate of growth was recorded in 2019 when imports increased by 70% against the previous year. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Congo (X kg), the United Arab Emirates (X kg) and South Africa (X kg) were the main suppliers of crude oil imports to Angola, together comprising 97% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Congo (with a CAGR of -53.6%), while imports for the other leaders experienced a decline.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of crude petroleum oil to Angola, comprising 80% of total imports. The second position in the ranking was taken by Congo ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates stood at -87.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Congo (-46.5% per year) and South Africa (-63.1% per year).

Import Prices by Country

In 2022, the average crude oil import price amounted to $X per ton, reducing by -14.5% against the previous year. Over the period under review, the import price, however, posted a significant increase. The pace of growth appeared the most rapid in 2014 an increase of 134% against the previous year. The import price peaked at $X per ton in 2021, and then contracted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Congo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Congo (+15.3%), while the prices for the other major suppliers experienced mixed trend patterns.

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 in 2021 were the United States, China and Russia, together accounting for 45% of global consumption. These countries were followed by India, Saudi Arabia, South Korea, Japan, Brazil, Canada, Israel, Germany, the Netherlands and Thailand, which together accounted for a further 28%.

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

The countries with the highest volumes of in 2021 were the United States, Russia and Saudi Arabia, together comprising 42% of global production.

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

In value terms, the United Arab Emirates constituted the largest supplier of crude oil to Angola, comprising 80% of total imports. The second position in the ranking was occupied by Congo, with a 14% share of total imports.

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

In value terms, China remains the key foreign market for crude oil exports from Angola, comprising 68% of total exports. The second position in the ranking was occupied by India, with a 5.4% share of total exports. It was followed by Thailand, with a 4.2% share.

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

The average crude oil export price stood at $425 per ton in 2021, jumping by 18% against the previous year.

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

The average crude oil import price stood at $685 per ton in 2021, increasing by 22% against the previous year.

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

Angola

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Angola
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

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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