Report Update Nov 1, 2024

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

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Belgium: Crude Oil Market 2024

Crude Oil Market Size in Belgium

In 2022, the Belgian crude oil market increased by 18% to $X, rising for the second year in a row after two years of decline. Overall, consumption recorded a relatively flat trend pattern. Crude oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Crude Oil Exports

Exports from Belgium

In 2022, shipments abroad of crude petroleum oil decreased by -91.1% to X tons, falling for the eighth consecutive year after three years of growth. In general, exports saw a sharp slump. The pace of growth appeared the most rapid in 2013 with an increase of 12% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, crude oil exports reduced sharply to $X in 2022. Over the period under review, exports saw a significant curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by 8.5% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for crude oil exports from Belgium, with a 88% share of total exports. Moreover, crude oil exports to the Netherlands exceeded the volume sent to the second major destination, Gibraltar (X tons), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands amounted to -27.8%.

In value terms, the Netherlands ($X) remains the key foreign market for crude petroleum oil exports from Belgium, comprising 95% of total exports. The second position in the ranking was taken by Gibraltar ($X), with a 5.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the Netherlands totaled -29.2%.

Export Prices by Country

In 2022, the average crude oil export price amounted to $X per ton, growing by 26% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable slump. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Gibraltar totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (-2.0%).

Crude Oil Imports

Imports into Belgium

Crude oil imports into Belgium shrank to X tons in 2022, dropping by -6.8% against 2021 figures. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 12%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, crude oil imports skyrocketed to $X in 2022. In general, imports showed a perceptible decrease. The pace of growth was the most pronounced in 2021 with an increase of 83% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the Netherlands (X tons) was the main supplier of crude oil to Belgium, accounting for a 98% share of total imports. It was followed by Algeria (X tons), with a 0.2% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Algeria (-27.7% per year) and Russia (-40.8% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of crude petroleum oil to Belgium, comprising 98% of total imports. The second position in the ranking was taken by Algeria ($X), with a 0.3% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the Netherlands was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Algeria (-28.3% per year) and Russia (-40.8% per year).

Import Prices by Country

In 2022, the average crude oil import price amounted to $X per ton, with an increase of 41% against the previous year. Over the period under review, the import price, however, saw a slight decline. The pace of growth appeared the most rapid in 2021 when the average import price increased by 63%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Algeria ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (-0.1%), 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 in 2021 were the United States, China and Russia, with a combined 45% share of global consumption. India, Saudi Arabia, South Korea, Japan, Brazil, Canada, Israel, Germany, the Netherlands and Thailand lagged somewhat behind, together comprising 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 Belgium?

In value terms, the Netherlands constituted the largest supplier of crude oil to Belgium, comprising 94% of total imports. The second position in the ranking was occupied by Algeria, with a 2.3% share of total imports.

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

In value terms, the Netherlands remains the key foreign market for crude oil exports from Belgium, comprising 89% of total exports. The second position in the ranking was occupied by Germany, with a 6.8% share of total exports.

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

In 2021, the average crude oil export price amounted to $562 per ton, rising by 10% against the previous year.

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

The average crude oil import price stood at $517 per ton in 2021, jumping by 63% against the previous year.

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

Belgium

Data coverage:

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