Report Update Nov 1, 2024

Venezuela - Processed Petroleum Oils and Distillates - Market Analysis, Forecast, Size, Trends and Insights

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Venezuela: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Venezuela

The Venezuelan market for processed petroleum oils and distillates shrank to $X in 2022, with a decrease of -2.8% against the previous year. In general, consumption faced a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of 5.6%. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Processed Petroleum Oils and Distillates in Venezuela

In value terms, processed petroleum oils and distillates production contracted modestly to $X in 2022 estimated in export price. Overall, production faced a precipitous descent. The pace of growth appeared the most rapid in 2021 with an increase of 8.4%. Processed petroleum oils and distillates production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Imports of Processed Petroleum Oils and Distillates

Imports into Venezuela

In 2022, approx. X tons of processed petroleum oils and distillates were imported into Venezuela; approximately mirroring the previous year. Over the period under review, imports recorded tangible growth. The growth pace was the most rapid in 2015 when imports increased by 71% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, processed petroleum oils and distillates imports stood at $X in 2022. In general, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 126%. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest processed petroleum oils and distillates supplier to Venezuela, with a 79% share of total imports. Moreover, processed petroleum oils and distillates imports from the United States exceeded the figures recorded by the second-largest supplier, Turkey (X tons), more than tenfold. Brazil (X tons) ranked third in terms of total imports with a 3.8% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+141.8% per year) and Brazil (+70.3% per year).

In value terms, the United States ($X) constituted the largest supplier of processed petroleum oils and distillates to Venezuela, comprising 62% of total imports. The second position in the ranking was held by Turkey ($X), with a 9.2% share of total imports. It was followed by Brazil, with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +15.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+167.6% per year) and Brazil (+81.7% per year).

Import Prices by Country

The average import price for processed petroleum oils and distillates stood at $X per ton in 2022, with an increase of 2.8% against the previous year. Overall, the import price recorded buoyant growth. The most prominent rate of growth was recorded in 2018 an increase of 321% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+14.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for processed petroleum oils and distillates in the world?

The countries with the highest volumes of in 2021 were the United States, Saudi Arabia and Russia, with a combined 32% share of global consumption. These countries were followed by Iraq, Canada, Iran, India, China, the United Arab Emirates, Brazil, Kuwait, Mexico and Venezuela, which together accounted for a further 35%.

What are the largest producers of processed petroleum oils and distillates in the world?

The countries with the highest volumes of in 2021 were the United States, Saudi Arabia and Russia, with a combined 35% share of global production. Iraq, India, Iran, Canada, China, the United Arab Emirates, Kuwait, Brazil, Venezuela and Mexico lagged somewhat behind, together comprising a further 36%.

What are the leading suppliers of processed petroleum oils and distillates to Venezuela?

In value terms, India constituted the largest supplier of processed petroleum oils and distillates to Venezuela, comprising 71% of total imports. The second position in the ranking was occupied by the United States, with a 22% share of total imports.

What are the leading importers of processed petroleum oils and distillates from Venezuela?

In value terms, Guyana remains the key foreign market for processed petroleum oils and distillates exports from Venezuela.

What is the average export price for processed petroleum oils and distillates in Venezuela?

The average export price for processed petroleum oils and distillates stood at $404 per ton in 2021, increasing by 2.2% against the previous year.

What is the average import price for processed petroleum oils and distillates in Venezuela?

In 2021, the average import price for processed petroleum oils and distillates amounted to $502 per ton, increasing by 2.8% against the previous year.

This report provides an in-depth analysis of the market for processed petroleum oils and distillates in Venezuela. 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:

Venezuela

Data coverage:

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