Between January and October 2024, Algeria’s oil exports saw a marked increase. These reached an average of 410,000 barrels per day in 10 monthscompared to 378,000 b/d over the same period in 2023.
Although production is down, following OPEC+ decisions aimed at stabilize prices on world markets. The demand from Algeria’s partners for hydrocarbons remains notable.
In this article, we reveal the ranking ofs main customers of Algeria between January and October 2024.
1- France: 86,000 barrels of oil/day
Between January and October 2024, France stands out as Algeria’s main oil customer, with an average of 86,000 barrels purchased each day. An energy partnership maintained for several years. This figure demonstrates Algeria’s contribution to supplying French refineries.
2- Spain: 55,000 barrels/day
In this ranking, Spain occupies second place with the import of 55,000 barrels of oil daily. Additionally, in October 2024, Algeria confirmed its leading role as the main supplier of natural gas to Spain. By covering more than half of its total imports. In fact, 53% of natural gas imports into Spain come from Algeria.
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3- Italy: 49,000 barrels of oil/day
Italy completes the Top 3 of Algeria’s crude oil clients with 49,000 barrels imported per day. That said, trade was dynamic between these two shores of the Mediterranean during the first 10 months of 2024.
4- South Korea: 35,000 barrels/day
Algeria also delivers part of its energy wealth to Asia, particularly in South Koreawhich matters surroundings 35,000 barrels of oil per day. This figure illustrates the global reach of our country’s oil industry.
5- Portugal: 32,000 barrels/day
Portugal occupies fifth place in this ranking with the import of 32,000 barrels daily this year. Confirming Algeria’s position as an important supplier in the Iberian Peninsula.
6- India: 31,000 barrels of oil/day
The import of 31,000 b/d from India this year highlights the interest of Asian markets in Algerian oil. To meet its energy needs, India is turning to Algeria.
7- United Kingdom: 30,000 barrels/day
The United Kingdom is also among Algeria’s main clients, with an average of 30,000 barrels imported every day between January and October 2024. The United Kingdom is diversifying its oil suppliers, and often turns to Algeria, particularly in times of strong demand.
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Furthermore, Algeria exported additional volumes, totaling 92 barrels per day, to other countries this year.
In conclusion, this ranking sheds light a diverse network of partners of Algeria in the hydrocarbon sector.
