Report Australia - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update May 1, 2025

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

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Australia: Crude Oil Market 2025

Crude Oil Market Size in Australia

In 2022, after two years of decline, there was significant growth in the Australian crude oil market, when its value increased by 15% to $X. Overall, consumption saw a abrupt downturn. Crude oil consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Crude Oil Production in Australia

In value terms, crude oil production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2019 when the production volume increased by 40%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Crude Oil Exports

Exports from Australia

In 2022, approx. X tons of crude petroleum oil were exported from Australia; with a decrease of -4.6% compared with the year before. Overall, exports, however, enjoyed slight growth. The growth pace was the most rapid in 2021 when exports increased by 149%. As a result, the exports attained the peak of X tons, and then dropped modestly in the following year.

In value terms, crude oil exports skyrocketed to $X in 2022. Over the period under review, exports recorded a mild decline. The growth pace was the most rapid in 2021 with an increase of 229% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

From 2012 to 2022, the average annual rate of growth in terms of volume to No country was relatively modest.

From 2012 to 2022, the average annual growth rate of value to No country was relatively modest.

Crude Oil Imports

Imports into Australia

In 2022, purchases abroad of crude petroleum oil decreased by -20.6% to X tons, falling for the fourth year in a row after three years of growth. Overall, imports saw a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 22%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, crude oil imports soared to $X in 2022. In general, imports faced a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 41% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest crude oil supplier to Australia, accounting for a 33% share of total imports. Moreover, crude oil imports from Malaysia exceeded the figures recorded by the second-largest supplier, Brunei Darussalam (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia amounted to -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Brunei Darussalam (+1.8% per year) and the United States (+349.4% per year).

In value terms, Malaysia ($X) constituted the largest supplier of crude petroleum oil to Australia, comprising 33% of total imports. The second position in the ranking was held by Brunei Darussalam ($X), with a 15% share of total imports. It was followed by the United States, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia stood at -6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Brunei Darussalam (-1.0% per year) and the United States (+394.2% per year).

Import Prices by Country

In 2022, the average crude oil import price amounted to $X per ton, increasing by 56% against the previous year. Over the period under review, the import price, however, recorded a noticeable shrinkage. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Algeria ($X per ton) and Nigeria ($X per ton), while the price for Russia ($X per ton) and New Zealand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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%.
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.
In value terms, Malaysia constituted the largest supplier of crude oil to Australia, comprising 43% of total imports. The second position in the ranking was occupied by Brunei Darussalam, with a 12% share of total imports. It was followed by the United States, with a 6.2% share.
In value terms, Singapore remains the key foreign market for crude oil exports from Australia, comprising 48% of total exports. The second position in the ranking was occupied by South Korea, with a 13% share of total exports. It was followed by Indonesia, with a 12% share.
In 2021, the average crude oil export price amounted to $477 per ton, jumping by 39% against the previous year.
The average crude oil import price stood at $463 per ton in 2021, rising by 47% against the previous year.

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

    • Australia

    Data coverage:

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

    1. How to diversify your business and benefit from new market opportunities
    2. How to load your idle production capacity
    3. How to boost your sales on overseas markets
    4. How to increase your profit margins
    5. How to make your supply chain more sustainable
    6. How to reduce your production and supply chain costs
    7. How to outsource production to other countries
    8. 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. 1. INTRODUCTION

      Making Data-Driven Decisions to Grow Your Business

      1. REPORT DESCRIPTION
      2. RESEARCH METHODOLOGY AND THE AI PLATFORM
      3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
      4. GLOSSARY AND SPECIFIC TERMS
    2. 2. EXECUTIVE SUMMARY

      A Quick Overview of Market Performance

      1. KEY FINDINGS
      2. MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO
    3. 3. MARKET OVERVIEW

      Understanding the Current State of The Market and its Prospects

      1. MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      2. MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      3. TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      4. PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      5. MARKET FORECAST TO 2035
    4. 4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

      Finding New Products to Diversify Your Business

      1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
      2. BEST-SELLING PRODUCTS
      3. MOST CONSUMED PRODUCTS
      4. MOST TRADED PRODUCTS
      5. MOST PROFITABLE PRODUCTS FOR EXPORTS
    5. 5. MOST PROMISING SUPPLYING COUNTRIES

      Choosing the Best Countries to Establish Your Sustainable Supply Chain

      1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
      2. TOP PRODUCING COUNTRIES
      3. TOP EXPORTING COUNTRIES
      4. LOW-COST EXPORTING COUNTRIES
    6. 6. MOST PROMISING OVERSEAS MARKETS

      Choosing the Best Countries to Boost Your Export

      1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
      2. TOP CONSUMING MARKETS
      3. UNSATURATED MARKETS
      4. TOP IMPORTING MARKETS
      5. MOST PROFITABLE MARKETS
    7. 7. PRODUCTION

      The Latest Trends and Insights into The Industry

      1. PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    8. 8. IMPORTS

      The Largest Import Supplying Countries

      1. IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      2. IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
      3. IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
    9. 9. EXPORTS

      The Largest Destinations for Exports

      1. EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      2. EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
      3. EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
    10. 10. PROFILES OF MAJOR PRODUCERS

      The Largest Producers on The Market and Their Profiles

    11. LIST OF TABLES

      1. Key Findings In 2024
      2. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      3. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
      4. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
      5. Imports, In Physical Terms, By Country, 2012–2024
      6. Imports, In Value Terms, By Country, 2012–2024
      7. Import Prices, By Country, 2012–2024
      8. Exports, In Physical Terms, By Country, 2012–2024
      9. Exports, In Value Terms, By Country, 2012–2024
      10. Export Prices, By Country, 2012–2024
    12. LIST OF FIGURES

      1. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      2. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
      3. Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      4. Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      5. Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      6. Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      7. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
      8. Market Volume Forecast to 2035
      9. Market Value Forecast to 2035
      10. Market Size and Growth, By Product
      11. Average Per Capita Consumption, By Product
      12. Exports and Growth, By Product
      13. Export Prices and Growth, By Product
      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: Historical Data (2012–2024) and Forecast (2025–2035)
      22. Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      23. Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      24. Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      25. Imports, In Physical Terms, By Country, 2024
      26. Imports, In Physical Terms, By Country, 2012–2024
      27. Imports, In Value Terms, By Country, 2012–2024
      28. Import Prices, By Country, 2012–2024
      29. Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      30. Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      31. Exports, In Physical Terms, By Country, 2024
      32. Exports, In Physical Terms, By Country, 2012–2024
      33. Exports, In Value Terms, By Country, 2012–2024
      34. Export Prices, By Country, 2012–2024

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