Report Update Nov 1, 2024

Romania - 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

Romania: Crude Oil Market 2024

Crude Oil Market Size in Romania

In 2022, the Romanian crude oil market increased by 41% to $X, rising for the second consecutive year after two years of decline. Over the period under review, the total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +71.3% against 2020 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Crude Oil Production in Romania

In value terms, crude oil production shrank to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a pronounced downturn. The growth pace was the most rapid in 2016 when the production volume increased by 31% against the previous year. Crude oil production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Crude Oil Exports

Exports from Romania

In 2022, overseas shipments of crude petroleum oil were finally on the rise to reach X tons after two years of decline. Overall, exports, however, continue to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2019 with an increase of 159% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude oil exports surged to $X in 2022. In general, exports, however, saw a noticeable decrease. The pace of growth was the most pronounced in 2021 with an increase of 73% against the previous year. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Serbia (X tons) was the main destination for crude oil exports from Romania, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Serbia totaled -2.1%.

In value terms, Serbia ($X) also remains the key foreign market for crude petroleum oil exports from Romania.

From 2012 to 2022, the average annual rate of growth in terms of value to Serbia amounted to -2.4%.

Export Prices by Country

The average crude oil export price stood at $X per ton in 2022, surging by 38% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 176% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Serbia.

From 2012 to 2022, the rate of growth in terms of prices for Serbia amounted to -0.2% per year.

Crude Oil Imports

Imports into Romania

After two years of decline, overseas purchases of crude petroleum oil increased by 28% to X tons in 2022. In general, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, crude oil imports soared to $X in 2022. Over the period under review, imports posted a tangible expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Russia (X tons), Kazakhstan (X tons) and Turkey (X tons) were the main suppliers of crude oil imports to Romania, together comprising 96% of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +489.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Kazakhstan ($X) and Turkey ($X) constituted the largest crude oil suppliers to Romania, with a combined 96% share of total imports.

Turkey, with a CAGR of +368.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average crude oil import price stood at $X per ton in 2022, picking up by 36% against the previous year. Over the period under review, the import price, however, showed a slight decrease. The growth pace was the most rapid in 2021 when the average import price increased by 52% 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 noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Turkey ($X per ton) and Kazakhstan ($X per ton), while the price for Tunisia ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (+9.5%), 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 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 accounting for 42% of global production.

What are the leading suppliers of crude petroleum oil to Romania?

In value terms, the largest crude oil suppliers to Romania were Kazakhstan, Russia and Iraq, together accounting for 84% of total imports. These countries were followed by Turkmenistan, Azerbaijan and Tunisia, which together accounted for a further 15%.

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

In value terms, Serbia remains the key foreign market for crude oil exports from Romania.

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

The average crude oil export price stood at $552 per ton in 2021, picking up by 80% against the previous year.

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

In 2021, the average crude oil import price amounted to $498 per ton, jumping by 52% against the previous year.

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

Romania

Data coverage:

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