Report Update May 1, 2025

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

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Greece: Crude Oil Market 2025

Crude Oil Market Size in Greece

In 2022, the Greek crude oil market increased by 26% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. Crude oil consumption peaked at $X in 2012; afterwards, it flattened through to 2022.

Crude Oil Exports

Exports from Greece

In 2022, the amount of crude petroleum oil exported from Greece dropped notably to X tons, which is down by -99.9% against the previous year. Over the period under review, exports continue to indicate a significant curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 1,263% against the previous year. As a result, the exports reached the peak of X tons, and then reduced sharply in the following year.

In value terms, crude oil exports reduced rapidly to $X in 2022. Overall, exports faced a deep setback. The pace of growth appeared the most rapid in 2021 when exports increased by 2,068% against the previous year. As a result, the exports reached the peak of $X, and then reduced remarkably in the following year.

Exports by Country

Cyprus (X tons) was the main destination for crude oil exports from Greece, accounting for a 100% share of total exports. It was followed by Bulgaria (X tons), with a 0.2% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Cyprus was relatively modest.

In value terms, Cyprus ($X) emerged as the key foreign market for crude petroleum oil exports from Greece, comprising 99.9% of total exports. The second position in the ranking was taken by Bulgaria ($X), with less than 0.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Cyprus was relatively modest.

Export Prices by Country

The average crude oil export price stood at $X per ton in 2022, surging by 1,184% against the previous year. In general, the export price enjoyed a significant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Cyprus ($X per ton), while the average price for exports to Bulgaria stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (+6.4%).

Crude Oil Imports

Imports into Greece

In 2022, the amount of crude petroleum oil imported into Greece reduced to X tons, waning by -6.4% on the previous year. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 7.5%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, crude oil imports soared to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 67% 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, Iraq (X tons) constituted the largest crude oil supplier to Greece, with a 48% share of total imports. Moreover, crude oil imports from Iraq exceeded the figures recorded by the second-largest supplier, Kazakhstan (X tons), threefold. Libya (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Iraq stood at +13.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (+6.2% per year) and Libya (+2.6% per year).

In value terms, Iraq ($X) constituted the largest supplier of crude petroleum oil to Greece, comprising 44% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 17% share of total imports. It was followed by Libya, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Iraq stood at +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (+5.2% per year) and Libya (+1.5% per year).

Import Prices by Country

The average crude oil import price stood at $X per ton in 2022, rising by 43% against the previous year. In general, the import price, however, saw a slight shrinkage. The pace of growth was the most pronounced in 2021 an increase of 59% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (-0.0%), 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. 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 Greece?

In value terms, the largest crude oil suppliers to Greece were Iraq, Kazakhstan and Libya, with a combined 71% share of total imports. Russia, Egypt, Saudi Arabia and Norway lagged somewhat behind, together comprising a further 22%.

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

In value terms, Turkey remains the key foreign market for crude oil exports from Greece.

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

The average crude oil export price stood at $122 per ton in 2021, declining by -37% against the previous year.

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

The average crude oil import price stood at $500 per ton in 2021, growing by 60% against the previous year.

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

Greece

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Greece
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 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
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 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 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 Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
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, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
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 Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
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 Of Destination, 2012–2024