Crude Oil Import 2025: Market Volatility
Global Crude Oil Import Market Landscape
In global trade, Crude Oil is tracked under HS Code 2709, covering petroleum oils and crude extracts. As the lifeblood of industrial economies, it serves as the primary feedstock for refining into fuels and petrochemicals, making it a highly volatile yet strategically vital commodity.
Strategic Insights
- Market Momentum: Global crude oil imports in 2025 saw sharp volatility, starting strong with $58B in March before collapsing to $20B by November, reflecting a supply glut and demand contraction.
- Geographic Power: Kazakhstan dominates supply (31.28% share), while India leads demand (36.93%). Trade flows skew from resource-rich exporters (Kazakhstan, Russia) to industrial/developing importers (India, US, Europe).
- Supply Chain Structure: Highly consolidated—Dominators (39.33% of suppliers) control 81.82% of value. Buyers face high dependence risk, with limited alternatives for large-volume contracts.
Global Crude Oil Import Trend in 2025 Whole Year
Global crude oil imports in 2025 were marked by significant volatility, with forecasts initially predicting strong demand growth [Global crude oil demand 2025 - Statista] before a sharp contraction in the latter half, reflecting a market adjusting to a potential supply glut and shifting demand [Oil market glut: surging output and sluggish demand pressure prices].
- Aggregate Performance: Total import value showed wide fluctuations, with a notable overall decline from the year's start to its end.
- Period Dynamics: The year began strongly with over $58B in March but finished with a steep downturn, falling to just $20B by November.
Table: Crude Oil Import Trend in 2025 Whole Year
| Date | Value | Weight | Unit Price | Value MoM | Weight MoM | Unit Price MoM |
|---|---|---|---|---|---|---|
| 2025-01-01 | 52.13B USD | 47.92B kg | $1.09/kg | N/A | N/A | N/A |
| 2025-02-01 | 48.75B USD | 56.16B kg | $0.87/kg | -6.49% | +17.18% | -20.20% |
| 2025-03-01 | 58.26B USD | 62.43B kg | $0.93/kg | +19.51% | +11.17% | +7.50% |
| 2025-04-01 | 53.72B USD | 66.36B kg | $0.81/kg | -7.79% | +6.30% | -13.25% |
| 2025-05-01 | 48.06B USD | 63.85B kg | $0.75/kg | -10.53% | -3.78% | -7.02% |
| 2025-06-01 | 50.18B USD | 66.34B kg | $0.76/kg | +4.41% | +3.90% | +0.49% |
| 2025-07-01 | 50.98B USD | 63.14B kg | $0.81/kg | +1.59% | -4.84% | +6.75% |
| 2025-08-01 | 46.32B USD | 56.59B kg | $0.82/kg | -9.14% | -10.36% | +1.37% |
| 2025-09-01 | 45.16B USD | 80.33B kg | $0.56/kg | -2.50% | +41.94% | -31.31% |
| 2025-10-01 | 26.30B USD | 52.77B kg | $0.50/kg | -41.77% | -34.30% | -11.37% |
| 2025-11-01 | 20.00B USD | 39.08B kg | $0.51/kg | -23.96% | -25.95% | +2.69% |
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Crude Oil Global Market Structure: Supply vs. Demand
Top Origin Countries & Production Hubs
- Kazakhstan dominates supply with 31.28% global value share, indicating monopolistic control.
- Market structure is consolidated: Top 3 exporters (Kazakhstan, Mexico, Russia) hold 49.58% of export value.
- Argentina emerges as key challenger with 15.67% quantity share despite ranking fourth in value.
Top Destination Countries & Consumption Markets
- India leads demand (36.93% import value), followed by Italy (7.97%) and the US (7.22%).
- Demand split between consumption and processing: India/US reflect end-user needs; Italy/Netherlands suggest refining/re-export hubs.
- Nigeria's dual presence as top-5 exporter and importer indicates complex trade flows.
Supply-Demand Dynamics
- Extreme supplier concentration meets fragmented demand: Single exporter (Kazakhstan) holds >30% share versus top importer (India) at 36.93%.
- Primary flow from resource-rich nations to industrial/developing economies: Kazakhstan/Argentina → India/US/Europe.
- Pricing power favors exporters: Kazakhstan's supply monopoly outweighs India's demand share in leverage.
Table: Global Crude Oil Import —— Top Destination Countries
| Destination Country | Value | Quantity | Frequency | Weight |
|---|---|---|---|---|
| INDIA | 149.71B | 19.05B | 3.62K | 85.13B |
| ITALY | 32.30B | 58.65B | 1.09K | 61.23B |
| UNITED STATES | 29.26B | 23.50B | 1.58K | 56.63B |
| NIGERIA | 25.62B | 159.03K | 969.00 | 1.24B |
| CHILE | 13.82B | 7.69B | 1.02K | 21.52B |
| PANAMA | ****** | ****** | ****** | ****** |
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Table: Global Crude Oil Import —— Top origin Countries
| Origin Country | Value | Quantity | Frequency | Weight |
|---|---|---|---|---|
| KAZAKHSTAN | 156.25B | 287.40B | 5.05K | 298.21B |
| MEXICO | 47.46B | 713.76M | 1.20K | 95.33B |
| RUSSIA | 43.97B | 8.53B | 1.16K | 23.95B |
| ARGENTINA | 38.71B | 62.08B | 3.52K | 44.23B |
| NIGERIA | 37.19B | 449.73M | 1.36K | 11.48B |
| UNITED ARAB EMIRATES | ****** | ****** | ****** | ****** |
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Global Crude Oil Import Analysis: Key Suppliers & Buyers
Suppliers Concentration & Strategy
- Power Center = Highly Consolidated: Dominators (39.33% of shipments) control 81.82% of total value. A tiny group commands the market.
- Operational Style = High-Frequency Dominant: 86.17% of all shipments (High Freq clusters) occur frequently, but only Dominators combine this with high value. Bulk Movers exist but are secondary.
- Buyer Implication: High dependence risk on Dominators like NNPC. Few alternatives for large, steady volumes. Spot market exists via Bulk Movers (13.65% value) but is infrequent. Small players offer high flexibility but minimal volume.
Oversea Buyers Procurement Patterns
- Procurement Behavior = Mix: Dominators (47.66% frequency, 77.10% value) drive constant high-volume buying. Bulk Movers (3.62% frequency, 20.22% value) show large, infrequent stockpiling (36.75% quantity).
- Market Tier = Dominator-Led: Dominators (47.66% shipments, 77.10% value) are core. Bulk Movers (3.62% shipments) handle major project/seasonal volumes. High-frequency, low-value buyers (48.73% shipments) are numerous but marginal (1.35% quantity, 0.63% value).
Market Entry & Negotiation Strategy
- Target Dominators First: Secure long-term contracts with major suppliers (NNPC, АО МАНГИСТАУМУНАЙГАЗ) for volume stability. Expect limited negotiation power.
- Use Bulk Movers for Spot: Fill gaps or build inventory via players like Nexus Oil Trading. Be ready for irregular availability.
- Buyers: Hedge Dominator Dependence: Major importers (PETROPERU SA, TOTSA) wield power, but diversify sources. Bulk Movers (REFINARIA DE MATARIPE) offer large spot deals.
- Small Buyers: Seek Niche Suppliers: Low-value, high-frequency suppliers offer flexibility for small orders but limited scale. Avoid reliance here for core supply.
Table: Global Crude Oil Import —— Top Buyers
| Buyer Company | Value | Quantity | Frequency | Weight |
|---|---|---|---|---|
| TENGIZCHEVROIL INTERNATIONAL BERMUDA LIMITED | 43.12B | 77.98B | 62.00 | 77.98B |
| P.M.I. COMERCIO INTERNACIONAL S.A. DE C.V | 33.55B | 497.72M | 935.00 | 77.47B |
| HINDUSTAN PETROLEUM CORPORATION LIMITED | 27.73B | 1.06B | 695.00 | 9.16B |
| KAZMUNAYGAS TRADING AG | ****** | ****** | ****** | ****** |
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Table: Global Crude Oil Import —— Top Suppliers
| Supplier Company | Value | Quantity | Frequency | Weight |
|---|---|---|---|---|
| ТОО ТЕНГИЗШЕВРОЙЛ | 80.02B | 145.03B | 798.00 | 145.13B |
| АОЗТ КАРАЧАГАНАК ПЕТРОЛИУМ ОПЕРЕЙТИНГ Б.В. НИДЕРЛАНДЫ, СТРАВИНСКИЛААН | 21.93B | 42.59B | 328.00 | 42.59B |
| PETROLEOS MEXICANOS | 17.94B | 277.93M | 525.00 | 42.76B |
| КОМПАНИЯ С ОГРАНИЧЕННОЙ ОТВЕТСТВЕННОСТЬЮ КОО КАЗАХСТАН ПАЙПЛАЙН ВЕНЧУРС | ****** | ****** | ****** | ****** |
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Frequently Asked Questions
What is the HS Code for Crude Oil?
The HS Code for Crude Oil is 2709, covering petroleum oils and oils obtained from bituminous minerals in their crude form.
Which country is the largest exporter of Crude Oil in 2025 Whole Year?
KAZAKHSTAN dominated global Crude Oil exports in 2025, with shipments valued at $156.25B, making it the leading supply hub.
Who are the top importers of Crude Oil in 2025 Whole Year?
The top importers were INDIA ($149.71B), ITALY ($32.30B), and the UNITED STATES ($29.26B), reflecting major consumption and refining hubs.
Who are the major suppliers and companies trading Crude Oil in 2025 Whole Year?
Key suppliers include ТОО ТЕНГИЗШЕВРОЙЛ ($80.02B) and PETROLEOS MEXICANOS ($17.94B), while top buyers feature TENGIZCHEVROIL INTERNATIONAL BERMUDA LIMITED ($43.12B) and HINDUSTAN PETROLEUM CORPORATION LIMITED ($27.73B).
Why do Crude Oil import rankings sometimes differ from export destination lists?
Discrepancies arise from Trade Asymmetries: exports report FOB value/intended destinations, while imports reflect CIF value/actual arrivals. Trans-shipments via hubs like PANAMA further skew data between origin and final receipt.
How to find reliable Crude Oil suppliers and exporters in 2025 Whole Year?
Access verified shipment records and active suppliers for HS Code 2709 via the yTrade database, covering key regions like KAZAKHSTAN and beyond.
Crude Oil Import 2024: Demand Softening
Track global Crude Oil import trends for HS Code 2709 on yTrade. Data shows year-end demand softening, with India leading imports and Russia dominating supply.
Global Crude Oil Import 2025 Q1: Demand Resilience
Explore 2025 Q1 crude oil imports (HS Code 2709) via yTrade. India leads as Kazakhstan dominates exports, with TotalEnergies and KAZMUNAYGAS controlling 84.69% of supply.
