Petroleum Crude Oil Global Exports by Country, Region and Trade Groups

20 December 2017

Crude oil is a mixture of hydrocarbons that exists as a liquid in geologic formations and remains a liquid when brought to the surface. Petroleum includes more quantity of crude oil and refined petroleum products such as gasoline, unfinished oils and other refinery inputs. These are produced from processing of crude oil, and other liquids at petroleum refineries. Crude Petroleum oils and oils obtained from bituminous minerals comes under HS Code 2709. Global petroleum crude oil exports amounted to USD 655327420000 in 2016 and trade balance stood at USD -13480 million (trade deficit) . Saudi Arabia, Russia, Iraq, Canada and UAE are the most exporting crude petroleum oil countries in the world.

Saudi Arabia, United States and Russia are the world’s most producing crude petroleum oil countries. However, USA consumes crude oil for its domestic purpose and then exports remaining oil to the world and stood as 18^th largest exporter country. USA produces a large share of petroleum it consumes but it still relies on imports to help meet demand. Let’s take a comprehensive look at the crude petroleum oil exports in the global market.

Top 10 Petroleum Crude Oil Exporting Countries

More than 100 countries in the world are exporting crude petroleum oil to its partner countries. Saudi Arabia is largest in most exporting countries of crude petroleum oil. It recorded USD 136179 million from crude oil exports in 2016 which represented 20.8% of the total’s output and it was 382196504 tons in terms of quantity. The country imports of crude petroleum oil declined by 22% between 2012 and 2016.

Russia stood as second largest petroleum crude oil exporting country in the world. The country has registered export value of USD 73676 million from 254767395 tons of crude oil in 2016. Russia exports of crude petroleum oil represented 11.2% of the world exports. However, Russia export of this product is decreased by 18% during 2015-16.

Iraq is one of the largest exporting and producing country of crude petroleum oil. Iraq exports of crude petroleum oil stood at USD 46309 million which was 7.1% of the global exports of this product and the country exports is raised by 12% between 2012 and 2016. In terms of quantity, Iraq has exported 167488140 tons of crude petroleum oil to its partner countries. Here, we are providing 10 largest countries which are exporting petroleum crude oil to the world.

*above stats are based on 2016 report

World’s Top-most Petroleum Crude Oil Exporting Regions

Asia is the largest region/continent in the world and it is also the biggest petroleum crude oil export market. In 2016, Asian countries mostly supplied crude oil to the world and it recorded that 33 Asian countries were in the list of petroleum crude oil exporting countries including Saudi Arabia, Iraq, UAE, Kuwait, Iran etc. According to petroleum crude oil export data, Middle East countries, Europe, America and Africa are other largest crude petroleum oil exporting regions in the world. Refer the below table to check the trade figures of all these regions recorded during 2016.

*above stats are based on 2016 report

Trade Group Wise Analysis of Petroleum Crude Oil Global Exports

WTO (World Trade Organization) stood as largest group which is exporting maximum crude petroleum oil to the world. Around 100 registered countries of WTO did crude petroleum oil export business last year. In 2016, WTO exports of this product recorded USD 531819 million followed by OPEC (USD 377752 million). OPEC stands for organization of petroleum exporting countries and it is the largest global association for petroleum products traders. Total 12 countries of OPEC mainly Saudi Arabia and Iraq did exports of this product in 2016. Take a look at export figures of five largest groups recorded in 2016.

*above stats are based on 2016 report

Subscribe for Crude Oil Import Export Data

Are you in the import export business of petroleum oil or its products? Are you looking for new importers or exporters of your product? Access the trade data of crude petroleum oil and get the authentic list of importers and exporters across the world. You will know about price, net weight, destination point and other shipment details. Here is the sample of Petroleum Crude Oil Exports from Russia and take a fair idea about the data fields covered in trade data.

You can easily get the import export data of crude oil and petroleum products with name of buyers and suppliers. You just need to fill up a quick enquiry form on our website i.e. www.exportgenius.in or also reach us through email [email protected] or call at +91-11-47048012