Bitumen Price

Latest Iran Bitumen Price Private Drum 2020


1st-7th Apr

What Items Affect Bitumen Price ?

Bitumen is mainly derived from vacuum bottom in oil refineries. Bitumen manufacturers refer to it the heaviest part of crude oil, which is the base material for producing bitumen.

The below-mentioned items affect straightly on the Vacuum Bottom (VB) Price:

Fuel price
Crude oil price
Political conditions
Currency rates equality
Bitumen demand and supply rates in the market, and
The rate of demands on the hot season of the year when constructions are increased
These items are responsible for the vacuum bottom price changes.

In 2018, regarding the global growth of GDP, developing countries’ demand for bitumen, and an increase in the global oil prices, bitumen price gained a better state in 2017.

  • Average annual OPEC crude oil price 2017: 52.51 USD
  • Average annual OPEC crude oil price 2018: 69.78 USD
  • Average annual OPEC crude oil price 2019: 63.83 USD