Report Update Nov 1, 2024

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

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Argentina: Crude Oil Market 2024

Crude Oil Market Size in Argentina

The Argentinian crude oil market declined to $X in 2022, which is down by -14.1% against the previous year. Over the period under review, consumption continues to indicate a deep downturn. Crude oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Crude Oil Production in Argentina

In value terms, crude oil production contracted to $X in 2022 estimated in export price. In general, production recorded a drastic downturn. The growth pace was the most rapid in 2021 when the production volume increased by 18%. 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 Argentina

In 2022, shipments abroad of crude petroleum oil increased by 94% to X tons, rising for the second consecutive year after two years of decline. Overall, exports saw notable growth. The pace of growth appeared the most rapid in 2018 when exports increased by 103%. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, crude oil exports surged to $X in 2022. Over the period under review, exports recorded a mild expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for crude oil exports from Argentina, accounting for a 70% share of total exports. Moreover, crude oil exports to the United States exceeded the volume sent to the second major destination, Brazil (X tons), fivefold. The Netherlands (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+28.4% per year) and the Netherlands (+11.2% per year).

In value terms, the United States ($X) remains the key foreign market for crude petroleum oil exports from Argentina, comprising 72% of total exports. The second position in the ranking was held by Brazil ($X), with a 14% share of total exports. It was followed by the Netherlands, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+26.4% per year) and the Netherlands (+9.5% per year).

Export Prices by Country

The average crude oil export price stood at $X per ton in 2022, rising by 36% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 41% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were the United States ($X per ton) and Brazil ($X per ton), while the average price for exports to the Netherlands ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+1.6%), while the prices for the other major destinations experienced a decline.

Crude Oil Imports

Imports into Argentina

For the fifth year in a row, Argentina recorded decline in purchases abroad of crude petroleum oil, which decreased by 0% to X tons in 2022. Overall, imports continue to indicate a sharp decrease. The most prominent rate of growth was recorded in 2015 with an increase of 74% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, crude oil imports amounted to $X in 2022. In general, imports continue to indicate a precipitous setback. The most prominent rate of growth was recorded in 2013 with an increase of 88% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) was the main crude oil supplier to Argentina, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +21.6%.

In value terms, the United States ($X) constituted the largest supplier of crude petroleum oil to Argentina.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +21.9%.

Import Prices by Country

The average crude oil import price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Over the period under review, the import price recorded a pronounced expansion. The most prominent rate of growth was recorded in 2013 an increase of 41% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for Bolivia amounted to +5.5% per year.

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, with a combined 45% share 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, with a combined 42% share of global production.

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

In value terms, Nigeria constituted the largest supplier of crude oil to Argentina, comprising 87% of total imports. The second position in the ranking was occupied by Bolivia, with a 13% share of total imports.

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

In value terms, the United States remains the key foreign market for crude oil exports from Argentina, comprising 55% of total exports. The second position in the ranking was occupied by China, with a 22% share of total exports. It was followed by the Netherlands, with an 11% share.

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

In 2021, the average crude oil export price amounted to $266 per ton, picking up by 11% against the previous year.

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

The average crude oil import price stood at $760 per ton in 2021, dropping by -13.4% against the previous year.

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

Argentina

Data coverage:

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