Oman: Market for Petroleum Lubricating Oil And Grease 2025

Market Size for Petroleum Lubricating Oil And Grease in Oman

The Omani market for petroleum lubricating oil and grease shrank modestly to $X in 2022, which is down by X% against the previous year. Overall, consumption, however, posted a buoyant increase. Petroleum lubricating oil and grease consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Petroleum Lubricating Oil And Grease in Oman

In value terms, petroleum lubricating oil and grease production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a strong increase. The growth pace was the most rapid in 2018 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Exports of Petroleum Lubricating Oil And Grease

Exports from Oman

In 2022, overseas shipments of petroleum lubricating oil and grease decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, exports saw a deep contraction. The pace of growth was the most pronounced in 2019 when exports increased by X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, petroleum lubricating oil and grease exports dropped remarkably to $X in 2022. Over the period under review, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons), India (X tons) and Egypt (X tons) were the main destinations of petroleum lubricating oil and grease exports from Oman, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X), the United Arab Emirates ($X) and Egypt ($X) were the largest markets for petroleum lubricating oil and grease exported from Oman worldwide, together comprising X% of total exports.

In terms of the main countries of destination, Egypt, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for petroleum lubricating oil and grease amounted to $X per ton, shrinking by X% against the previous year. In general, the export price recorded a slight curtailment. The most prominent rate of growth was recorded in 2015 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Petroleum Lubricating Oil And Grease

Imports into Oman

In 2022, approx. X tons of petroleum lubricating oil and grease were imported into Oman; surging by X% on the previous year. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, petroleum lubricating oil and grease imports soared to $X in 2022. Over the period under review, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the main petroleum lubricating oil and grease supplier to Oman, accounting for a approx. X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates stood at X%.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of petroleum lubricating oil and grease to Oman.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates amounted to X%.

Import Prices by Country

In 2022, the average import price for petroleum lubricating oil and grease amounted to $X per ton, with an increase of X% against the previous year. In general, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, petroleum lubricating oil and grease import price increased by X% against 2020 indices. The growth pace was the most rapid in 2013 when the average import price increased by X%. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to X% per year.

Source: IndexBox Platform

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