Morocco’s oil imports rise slightly in Q1 2025, driven by diesel demand, market fluctuations

Morocco saw a slight year-on-year rise in oil derivative imports in the first quarter of 2025, increasing by 2,000 barrels per day to reach an average of 244,000 barrels per day.

This represents a 0.8% rise from the 242,000 barrels per day recorded in Q1 2024, according to the Attaqa platform.

On a quarterly basis, Morocco’s oil imports dipped by 7,000 barrels per day in Q1 2025, down from an average of 251,000 barrels per day in the final quarter of 2024.

This rise follows a steady increase in Morocco’s oil imports throughout 2024, compared to 224,000 barrels per day in 2023. Morocco’s ongoing reliance on imports to meet its fuel needs continues to put pressure on the country’s budget and exposes it to global price fluctuations.

In Q1 2025, the primary focus of oil imports remained on diesel and fuel oil, driven by ongoing domestic demand and supply challenges. Diesel imports, including red diesel, rose by 14,000 barrels per day to 157,000, compared to 140,000 in the same period of 2024.

It explained that diesel imports fluctuated monthly, peaking in March at 198,000 barrels per day, up from 84,000 in January and over 190,000 in February.

Fuel oil, on the other hand, ranked second, with average imports of 41,000 barrels per day, down from 55,000 in Q1 2024.

Gasoline imports remained steady at 18,000 barrels per day, similar to Q1 2024, while aviation fuel averaged 14,000 barrels per day, with other petroleum products also averaging 14,000 barrels per day.

Imports of oil derivatives in Morocco fluctuated significantly in the first quarter of 2025, starting with a sharp 45% drop in January to 170,000 barrels per day compared to 311,000 in January 2024.

February rebounded to 288,000 barrels per day, up from 196,000 in February 2024, but March saw a decline to 273,000 barrels per day, down from 219,000 in March 2024.

Official data, however, revealed that in Q4 2024, both diesel and gasoline imports rose by 15.7% to 1.68 million metric tons, while the import value dropped by 11.8% to MAD 12 billion,  with around 82% of both volume and value accounted for by the leading distribution companies.