Report Update Nov 1, 2024

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

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Russian Federation: Crude Oil Market 2024

Crude Oil Market Size in the Russian Federation

The Russian crude oil market contracted to $X in 2022, which is down by -8.5% against the previous year. In general, consumption continues to indicate a perceptible decline. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Crude Oil Production in the Russian Federation

In value terms, crude oil production declined to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a pronounced downturn. The pace of growth was the most pronounced in 2018 when the production volume increased by 18%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Crude Oil Exports

Exports from the Russian Federation

In 2022, overseas shipments of crude petroleum oil increased by 2% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 7.3% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude oil exports dropped dramatically to $X in 2022. Overall, exports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 52%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for crude oil exports from Russia, with a 34% share of total exports. Moreover, crude oil exports to China exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. Germany (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled +13.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-5.0% per year) and Germany (+2.2% per year).

In value terms, China ($X) remains the key foreign market for crude petroleum oil exports from Russia, comprising 35% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 13% share of total exports. It was followed by Germany, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-11.7% per year) and Germany (-4.3% per year).

Export Prices by Country

The average crude oil export price stood at $X per ton in 2022, with a decrease of -18.7% against the previous year. In general, the export price recorded a abrupt descent. The most prominent rate of growth was recorded in 2021 an increase of 58%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were the Czech Republic ($X per ton) and Hungary ($X per ton), while the average price for exports to Italy ($X per ton) and Finland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belarus (-0.4%), while the prices for the other major destinations experienced a decline.

Crude Oil Imports

Imports into the Russian Federation

In 2022, crude oil imports into Russia skyrocketed to X tons, rising by 175% against the previous year's figure. Over the period under review, imports, however, showed a abrupt downturn. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, crude oil imports soared to $X in 2022. Overall, imports, however, continue to indicate a precipitous decline. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Kazakhstan (X tons) was the main supplier of crude oil to Russia, with a approx. 99% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Kazakhstan stood at -16.2%.

In value terms, Kazakhstan ($X) constituted the largest supplier of crude petroleum oil to Russia.

From 2012 to 2022, the average annual rate of growth in terms of value from Kazakhstan amounted to -25.0%.

Import Prices by Country

The average crude oil import price stood at $X per ton in 2022, remaining constant against the previous year. Overall, the import price, however, showed a drastic downturn. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for Kazakhstan amounted to -10.5% per year.

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 the Russian Federation?

In value terms, Azerbaijan constituted the largest supplier of crude oil to Russia.

What are the leading importers of crude petroleum oil from the Russian Federation?

In value terms, China remains the key foreign market for crude oil exports from Russia, comprising 32% of total exports. The second position in the ranking was occupied by the Netherlands, with a 16% share of total exports. It was followed by Germany, with an 8.4% share.

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

The average crude oil export price stood at $479 per ton in 2021, jumping by 58% against the previous year.

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

The average crude oil import price stood at $4,143 per ton in 2021, dropping by -8.5% against the previous year.

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

Russia

Data coverage:

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