Middle East: Petroleum Market 2020

Petroleum Market Size in the Middle East

The revenue of the petroleum market in Middle East amounted to $X in 2017, jumping by X% against the previous year. The petroleum consumption continues to indicate a prominent increase. The growth pace was the most rapid in 2011, when market value increased by X% against the previous year. The level of petroleum consumption peaked of $X in 2013; however, from 2014 to 2017, it failed to regain its momentum.

Petroleum Production in the Middle East

In 2017, the amount of petroleum produced in Middle East amounted to X tons, going up by X% against the previous year. The total output volume increased an average annual rate of +X% over the period from 2007 to 2017; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2011, with an increase of X% y-o-y. The volume of petroleum production peaked in 2017, and is likely to see steady growth in the immediate term.

Petroleum Exports

Exports in the Middle East

In 2017, exports of petroleum in Middle East stood at X tons, surging by X% against the previous year. The petroleum exports continue to indicate a moderate setback. The pace of growth appeared the most rapid in 2017, when it surged by X% against the previous year. The volume of exports peaked of X tons in 2008; however, from 2009 to 2017, it stood at a somewhat lower level.

In value terms, petroleum exports totaled $X in 2017. The petroleum exports continue to indicate a relatively flat trend pattern. The level of exports peaked of $X in 2013; however, from 2014 to 2017, it stood at a somewhat lower level.

Exports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) were the key exporters of petroleum in 2017, resulting at approx. X% and X% of total exports, respectively. Kuwait (X tons) took the second position in the ranking, followed by Qatar (X tons) and Turkey (X tons). All these countries together occupied near X% share of total exports. Oman (X tons) and Bahrain (X tons) followed a long way behind the leaders.

From 2007 to 2017, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Qatar (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, the largest petroleum markets worldwide were the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X), with a combined X% share of total exports. Qatar, Oman, Turkey and Bahrain lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Qatar (+X% per year) experienced the highest rates of growth with regard to exports, over the last decade, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The petroleum export price in Middle East stood at $X per ton in 2017, jumping by X% against the previous year. The export price indicated a modest increase from 2007 to 2017: its price increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the petroleum export price decreased by -X% against 2013 indices. The most prominent rate of growth was recorded in 2011, when it surged by X% against the previous year. The level of export price peaked of $X per ton in 2013; however, from 2014 to 2017, it stood at a somewhat lower level.

Export prices varied noticeably by the country of destination; the country with the highest export price was Oman ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by Oman (+X% per year), while the other leaders experienced more modest paces of growth.

Petroleum Imports

Imports in the Middle East

In 2017, the amount of petroleum imported in Middle East stood at X tons, jumping by X% against the previous year. The total import volume increased an average annual rate of +X% over the period from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2011, when imports increased by X% against the previous year. Over the period under review, the petroleum imports attained its maximum volume of X tons in 2012; however, from 2013 to 2017, it stood at a somewhat lower level.

In value terms, petroleum imports stood at $X in 2017. The petroleum imports continue to indicate a notable increase. Over the period under review, the petroleum imports reached its peak figure level of $X in 2012; however, from 2013 to 2017, it failed to regain its momentum.

Imports by Country

Turkey was the largest importer of petroleum in Middle East, with the volume of imports reaching X tons, which was approx. X% of total imports in 2017. The United Arab Emirates (X tons) ranks second in terms of the global imports with a X% share, followed by Lebanon (X%), Saudi Arabia (X%) and Israel (X%). The following importers - Jordan (X tons) and Oman (X tons) each amounted to a X% share of total imports.

From 2007 to 2017, average annual rates of growth with regard to petroleum imports into Turkey stood at +X%. At the same time, the United Arab Emirates (+X%), Saudi Arabia (+X%), Jordan (+X%) and Oman (+X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest growing importer in Middle East, with a CAGR of +X% from 2007-2017. By contrast, Lebanon (-X%) and Israel (-X%) illustrated a downward trend over the same period. From 2007 to 2017, the share of Israel increased by X% percentage points, while Jordan (-X%), Saudi Arabia (-X%), the United Arab Emirates (-X%) and Turkey (-X%) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported petroleum in Middle East, making up X% of global imports. The second position in the ranking was occupied by Lebanon ($X), with a X% share of global imports. It was followed by Saudi Arabia, with a X% share.

In Turkey, petroleum imports expanded at an average annual rate of +X% over the period from 2007-2017. In the other countries, the average annual rates were as follows: Lebanon (+X% per year) and Saudi Arabia (+X% per year).

Import Prices by Country

The petroleum import price in Middle East stood at $X per ton in 2017, jumping by X% against the previous year. The petroleum import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2008, an increase of X% y-o-y. The level of import price peaked of $X per ton in 2012; however, from 2013 to 2017, it stood at a somewhat lower level.

There were significant differences in the average import prices amongst the major importing countries. In 2017, the country with the highest import price was Oman ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Oman (+X% per year), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform