Report Update Nov 1, 2024

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

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Mexico: Crude Oil Market 2024

Crude Oil Market Size in Mexico

In 2022, the Mexican crude oil market increased by 33% to $X, rising for the second consecutive year after seven years of decline. In general, consumption, however, saw a deep contraction. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Crude Oil Production in Mexico

In value terms, crude oil production declined slightly to $X in 2022 estimated in export price. In general, production, however, showed a drastic downturn. The growth pace was the most rapid in 2021 with an increase of 9%. Crude oil production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Crude Oil Exports

Exports from Mexico

Crude oil exports from Mexico reduced sharply to X tons in 2022, with a decrease of -19.8% against 2021 figures. Overall, exports continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2016 when exports increased by 8.3% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, crude oil exports surged to $X in 2022. In general, exports saw a noticeable decline. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for crude oil exports from Mexico, accounting for a approx. 22% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Taiwan (Chinese) was relatively modest.

In value terms, Taiwan (Chinese) ($X) emerged as the key foreign market for crude petroleum oil exports from Mexico.

From 2012 to 2022, the average annual growth rate of value to Taiwan (Chinese) was relatively modest.

Export Prices by Country

The average crude oil export price stood at $X per ton in 2022, with an increase of 148% against the previous year. Overall, the export price, however, showed a slight curtailment. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Taiwan (Chinese).

From 2012 to 2022, the rate of growth in terms of prices for Spain amounted to -10.4% per year.

Crude Oil Imports

Imports into Mexico

In 2022, purchases abroad of crude petroleum oil decreased by 0% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports faced a sharp shrinkage. The smallest decline of 99.9% was in 2020. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, crude oil imports totaled $X in 2022. Over the period under review, imports showed a precipitous curtailment. The smallest decline of 99.9% was in 2020. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the UK (X tons) was the main supplier of crude oil to Mexico, with a 93% share of total imports. Moreover, crude oil imports from the UK exceeded the figures recorded by the second-largest supplier, the United States (X kg), more than tenfold.

From 2019 to 2022, the average annual growth rate of volume from the UK was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-93.1% per year) and Taiwan (Chinese) (0.0% per year).

In value terms, the UK ($X) constituted the largest supplier of crude petroleum oil to Mexico, comprising 93% of total imports. The second position in the ranking was taken by the United States ($X), with a 3.8% share of total imports.

From 2019 to 2022, the average annual growth rate of value from the UK was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-96.9% per year) and Taiwan (Chinese) (0.0% per year).

Import Prices by Country

In 2022, the average crude oil import price amounted to $X per ton, standing approx. at the previous year. Overall, the import price continues to indicate a dramatic downturn. The growth pace was the most rapid in 2020 a decrease of 99.9%. Over the period under review, average import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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

From 2019 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-54.6%).

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 comprising 45% of global consumption. India, Saudi Arabia, South Korea, Japan, Brazil, Canada, Israel, Germany, the Netherlands and Thailand lagged somewhat behind, together accounting 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 Mexico?

In value terms, the United States constituted the largest supplier of crude oil to Mexico.

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

In value terms, the United States remains the key foreign market for crude oil exports from Mexico, comprising 66% of total exports. The second position in the ranking was occupied by Spain, with a 17% share of total exports.

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

In 2021, the average crude oil export price amounted to $393 per ton, growing by 52% against the previous year.

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

In 2019, the average crude oil import price amounted to $440 per ton, stabilizing at the previous year.

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

Mexico

Data coverage:

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