Australia’s crude oil export volume has steadily declined over the past decade. In financial year 2023, the volume of crude oil exported from Australia was approximately 16.3 thousand megaliters. Crude oil is refined to produce petroleum products such as automotive gasoline, diesel, jet fuel, and LPG.
The global coronavirus outbreak has led to a sharp decline in fuel demand. This has affected Australia as it is dependent on imported crude oil to supplement its reserves. While the decrease in demand reduced the cost of imported crude oil, the situation for domestic crude oil refineries has been negative. Recently, one of the country’s four operating oil refineries has had to shut down in response to growing financial pressure. While Australia already imported most of its crude oil, it may have to increase this volume even further in the future once demand begins to rise again.
Export volume of crude oil from Australia from financial year 2012 to 2023 (in 1,000 megaliters)*
*Volume includes crude oil and other refinery feedstocks.
Note: The source does not specify the period for the financial year. In general, the Australian financial year runs from July 1 to June 30. Values have been rounded.
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Department of Industry, Science, Energy and Resources (Australia). (October 13, 2023). Export volume of crude oil from Australia from financial year 2012 to 2023 (in 1,000 megaliters)* [Graph]. In Statista. Retrieved November 11, 2024, from https://www.statista.com/statistics/674836/australia-export-volume-of-crude-oil/
Department of Industry, Science, Energy and Resources (Australia). "Export volume of crude oil from Australia from financial year 2012 to 2023 (in 1,000 megaliters)*." Chart. October 13, 2023. Statista. Accessed November 11, 2024. https://www.statista.com/statistics/674836/australia-export-volume-of-crude-oil/
Department of Industry, Science, Energy and Resources (Australia). (2023). Export volume of crude oil from Australia from financial year 2012 to 2023 (in 1,000 megaliters)*. Statista. Statista Inc.. Accessed: November 11, 2024. https://www.statista.com/statistics/674836/australia-export-volume-of-crude-oil/
Department of Industry, Science, Energy and Resources (Australia). "Export Volume of Crude Oil from Australia from Financial Year 2012 to 2023 (in 1,000 Megaliters)*." Statista, Statista Inc., 13 Oct 2023, https://www.statista.com/statistics/674836/australia-export-volume-of-crude-oil/
Department of Industry, Science, Energy and Resources (Australia), Export volume of crude oil from Australia from financial year 2012 to 2023 (in 1,000 megaliters)* Statista, https://www.statista.com/statistics/674836/australia-export-volume-of-crude-oil/ (last visited November 11, 2024)
Export volume of crude oil from Australia from financial year 2012 to 2023 (in 1,000 megaliters)* [Graph], Department of Industry, Science, Energy and Resources (Australia), October 13, 2023. [Online]. Available: https://www.statista.com/statistics/674836/australia-export-volume-of-crude-oil/