The Middle East was the only source of crude oil imported to the Philippines in the past two years. In particular, the highest share of crude oil imports originated from Saudi Arabia. ASEAN member countries and local producers used to account for about *** percent of the share.

Key information about Philippines Crude Oil: Imports

• Philippines Crude Oil: Imports was reported at 126.000 Barrel/Day th in Dec 2023
• This records a decrease from the previous number of 129.545 Barrel/Day th for Dec 2022
• Philippines Crude Oil: Imports data is updated yearly, averaging 197.041 Barrel/Day th from Dec 1980 to 2023, with 44 observations
• The data reached an all-time high of 356.163 Barrel/Day th in 1997 and a record low of 107.889 Barrel/Day th in 2021
• Philippines Crude Oil: Imports data remains active status in CEIC and is reported by Organization of the Petroleum Exporting Countries
• The data is categorized under World Trend Plus’s Association: Energy Sector – Table RB.OPEC.CO: Crude Oil Imports

In 2023, the total volume of crude oil imported to the Philippines reached approximately **** million barrels, reflecting an increase from the previous year. The importation of crude oil in the country significantly declined in 2020 and 2021.

Philippines Imports: Crude Oil: Others data was reported at 5.500 Barrel mn in 2016. This records an increase from the previous number of 5.000 Barrel mn for 2015. Philippines Imports: Crude Oil: Others data is updated yearly, averaging 3.300 Barrel mn from Dec 1999 (Median) to 2016, with 18 observations. The data reached an all-time high of 14.400 Barrel mn in 2011 and a record low of 0.200 Barrel mn in 2006. Philippines Imports: Crude Oil: Others data remains active status in CEIC and is reported by Department of Energy. The data is categorized under Global Database’s Philippines – Table PH.RB001: Energy Imports.

During year-to-date December 2023, about 20.4 billion liters of petroleum products were imported to the Philippines, the highest share of which were diesel which amounted to over eight billion liters. On the other hand, gasoline imports had a total volume of over five billion liters.

About half of crude oil imported to the Philippines in 2023 came from Saudi Arabia, followed by around ** percent coming from the UAE. The Middle East has been the primary source of crude oil to the Philippines for the past two years.

China Import Price: Crude Oil: Asia: Philippines data was reported at 277.472 USD/Ton in Jul 2020. This records a decrease from the previous number of 582.067 USD/Ton for Jun 2019. China Import Price: Crude Oil: Asia: Philippines data is updated monthly, averaging 859.832 USD/Ton from Dec 2011 (Median) to Jul 2020, with 5 observations. The data reached an all-time high of 20,916.667 USD/Ton in Jan 2016 and a record low of 277.472 USD/Ton in Jul 2020. China Import Price: Crude Oil: Asia: Philippines data remains active status in CEIC and is reported by CEIC Data. The data is categorized under China Premium Database’s Price – Table CN.PH: Crude Oil Import and Export Price.

Vietnam Imports from Philippines of Crude Oil was US$16.55 Million during 2017, according to the United Nations COMTRADE database on international trade. Vietnam Imports from Philippines of Crude Oil - data, historical chart and statistics - was last updated on September of 2025.

In 2022, the total volume of crude oil exported from the Philippines reached approximately *** thousand barrels, reflecting a significant decrease from the previous year when export volume reached its peak. The Philippines imports more crude oil than it exports.

Philippines Imports from Saudi Arabia of Crude Oil was US$1.79 Billion during 2024, according to the United Nations COMTRADE database on international trade. Philippines Imports from Saudi Arabia of Crude Oil - data, historical chart and statistics - was last updated on September of 2025.

Philippines Imports: Crude Oil: Indonesia data was reported at 0.400 Barrel mn in 2016. This records an increase from the previous number of 0.000 Barrel mn for 2015. Philippines Imports: Crude Oil: Indonesia data is updated yearly, averaging 0.200 Barrel mn from Dec 1999 (Median) to 2016, with 18 observations. The data reached an all-time high of 1.500 Barrel mn in 2001 and a record low of 0.000 Barrel mn in 2015. Philippines Imports: Crude Oil: Indonesia data remains active status in CEIC and is reported by Department of Energy. The data is categorized under Global Database’s Philippines – Table PH.RB001: Energy Imports.

As of 2023, China was the leading source of finished petroleum products imported to the Philippines at 24.54 percent. South Korea and Singapore were also among the major sources of finished petroleum product imports to the country.

The Philippine crude oil market surged to $4.8B in 2024, rising by 178% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, recorded a mild reduction. Over the period under review, the market attained the maximum level at $5.8B in 2018; however, from 2019 to 2024, consumption remained at a lower figure.

Philippines Imports: Crude Oil: Malaysia data was reported at 4.200 Barrel mn in 2016. This records a decrease from the previous number of 5.700 Barrel mn for 2015. Philippines Imports: Crude Oil: Malaysia data is updated yearly, averaging 4.050 Barrel mn from Dec 1999 (Median) to 2016, with 18 observations. The data reached an all-time high of 6.900 Barrel mn in 2010 and a record low of 1.000 Barrel mn in 2013. Philippines Imports: Crude Oil: Malaysia data remains active status in CEIC and is reported by Department of Energy. The data is categorized under Global Database’s Philippines – Table PH.RB001: Energy Imports.

The Philippine market for crude oil and processed petroleum soared to $20B in 2024, jumping by 25% against the previous year. In general, the total consumption indicated slight growth from 2012 to 2024: its value increased at an average annual rate of +1.4% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -1.6% against 2022 indices.

Philippines Imports from United Arab Emirates of Crude Oil was US$1.22 Billion during 2024, according to the United Nations COMTRADE database on international trade. Philippines Imports from United Arab Emirates of Crude Oil - data, historical chart and statistics - was last updated on September of 2025.

Philippines Imports: Crude Oil: Middle East: Others data was reported at 26.400 Barrel mn in 2016. This records an increase from the previous number of 16.900 Barrel mn for 2015. Philippines Imports: Crude Oil: Middle East: Others data is updated yearly, averaging 0.000 Barrel mn from Dec 2009 (Median) to 2016, with 8 observations. The data reached an all-time high of 26.400 Barrel mn in 2016 and a record low of 0.000 Barrel mn in 2014. Philippines Imports: Crude Oil: Middle East: Others data remains active status in CEIC and is reported by Department of Energy. The data is categorized under Global Database’s Philippines – Table PH.RB001: Energy Imports.

Brunei Imports of crude oil from Philippines was US$30.89 Million during 2023, according to the United Nations COMTRADE database on international trade. Brunei Imports of crude oil from Philippines - data, historical chart and statistics - was last updated on September of 2025.

South Korea Imports: Crude Oil: by Country: Philippines data was reported at 474.000 Barrel th in Feb 2024. This records an increase from the previous number of 323.000 Barrel th for Jul 2023. South Korea Imports: Crude Oil: by Country: Philippines data is updated monthly, averaging 325.000 Barrel th from Oct 1992 (Median) to Feb 2024, with 108 observations. The data reached an all-time high of 935.000 Barrel th in Aug 2010 and a record low of 145.000 Barrel th in Mar 2022. South Korea Imports: Crude Oil: by Country: Philippines data remains active status in CEIC and is reported by Petronet. The data is categorized under Global Database’s South Korea – Table KR.RB006: Crude Oil and Refined Products Exports, Imports, and Inventory. [COVID-19-IMPACT]

Philippines Imports from Kuwait of Crude Oil was US$190.84 Million during 2023, according to the United Nations COMTRADE database on international trade. Philippines Imports from Kuwait of Crude Oil - data, historical chart and statistics - was last updated on September of 2025.