OPEC Crude Oil Exports – Arab Region Top Crude Oil Producer & Exporter

29 December 2017
Crude Oil OPEC

Organization of the Petroleum Exporting Countries (OPEC) is an inter-governmental organization, which unifies the petroleum policies of its member countries and ensures the stabilization of oil markets. Its mission is to secure an economic, an efficient and a regular supply of petroleum crude oil to consumers, a steady income to producer nations and a fair return on capital for those investing in the petroleum industry. Global OPEC’s exports of petroleum crude oil and products amounted to USD 501 billion in 2016. Their petroleum crude oil exports stood at USD 377 billion in this year. Let’s have a wider crude oil export picture of OPEC countries.


OPEC was founded in 1960 by 5 members namely Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. Now 9 more members have added to the list including Algeria, Angola, Ecuador, Equatorial Guinea, Gabon, Libya, Nigeria, Qatar and United Arab Emirates. In all, it has 14 member countries. Headquartered in Vienna, OPEC nations accounted for an estimated 81.5% of global oil production. And the bulk of OPEC proven oil reserves amounted to 65.5% in Middle-East of the total OPEC crude oil production. They have a major influence on global oil prices that were earlier determined by American-dominated multinational oil companies. The Organization of the Petroleum Exporting Countries is also a significant provider of information about the international oil market. Read more about Petroleum Crude Oil Exports by Country, Region and Trade Groups.



OPEC Petroleum Crude Oil Production by Country


According to a report on OPEC exports of crude oil, two-thirds of organization’s oil production and reserves come from six Middle Eastern countries that are surrounded the oil-rich Persian Gulf. In 2016, crude oil production growth amounted to 0.8%, which was sluggish amid low price environment. Among crude oil OPEC countries, Saudi Arabia produces maximum petroleum crude oil, followed by Iraq, Iran, United Arab Emirates, Kuwait and Venezuela. How much crude oil produced by these countries in 2016? Let’s find out!


 


Country

2016 Quantity Produced (MT)

Saudi Arabia

598

Iraq

193

Iran

186

United Arab Emirates

166

Kuwait

164

Venezuela

132

      


Petroleum Crude Oil Exports of OPEC Countries


Saudi Arabia is both world’s largest producing and exporting country of petroleum crude oil among OPEC countries. In 2016, it exported USD 136179 million of crude oil. Iraq and the United Arab Emirates stood as the 2nd and 3rd largest supplier of petroleum crude oil in this year. Saudi Arabia share value in total OPEC crude exports was 20.8%. Overall, OPEC countries contributed 57.6% share in value to global exports of crude oil in 2016. What was the crude oil export performance of OPEC countries in 2016? Let’s find out top oil exporting countries in OPEC from the chart and table given below.


 


Country

2016 Export Value (USD Million)

Saudi Arabia

136179

Iraq

46309

United Arab Emirates

32999

Kuwait

30694

Iran

28679

Nigeria

26917

Angola

25301

Venezuela

20494

Algeria

11332

Qatar

8851

Ecuador

5053

Libya

4939

 



OPEC Petroleum Crude Oil Exports by Importing Country


According to a report on crude oil trade data 2016, China bought petroleum crude oil the most from OPEC countries in this year. India stood at 2nd position, while the United States of America stood at 3rd largest importer country of crude oil from OPEC. China imported crude oil valued at USD 44322 million in 2016, while India imported crude oil valued at USD 36249 million in the said year. How much crude oil other countries imported from OPEC in 2016? Here are their trade figures.

 


Country

2016 Import Value (USD Million)

China

44322

India

36249

United States of America

30794

South Korea

19171

Japan

15910

Italy

13209

Spain

11397

France

8450

Netherlands

6138

Singapore

5991

 


How to get complete information on petroleum crude oil exports in OPEC countries? Well, Export Genius is one trusted platform around the world, which gives 100% authentic customs-based details on crude oil exports in OPEC. Our shipment data of crude oil covers importer & exporter name, HS Code, product description, value, quantity, loading port, unloading port, etc. This sample is based on actual shipments, received from our genuine sources. It contains complete information about US imports of crude oil from Nigeria with loading and unloading port name. Look at the sample of petroleum crude oil exports below.


Id

15217

Estimate Arrival Date

16-Sep-16

Actual Arrival Date

16-Sep-16

Bill of Lading

SMKITCHA30081601

Bill Type Code

R

Carrier SASC Code

Smki, Shoemake Trucking Inc

Vessel Country Code

Mh

Vessel Code

9681144

Vessel Name

Sti St Charles

Manifest No.

1000

HS Code

270900

Product Description

Condensate 172338 Bbls<Br/>

Shipper Name

Euronat Nigeria Limited

Shipper Address

Terrier Finance Limited 25 F Otb Building 160 Gloucester Road Hong Kong

Consignee Name

George E Warren Corp

Consignee Address

3001 Ocean Dr 203 Vero Beach Fl 32963 Usa

Notify Party Name

George E Warren Corp

Notify Party Address

3001 Ocean Dr 203 Vero Beach Fl 32963 Usa

Loading Port

Bonny

Unloading Port

4601, New York/Newark Area, Newark, Nj

Country

NG, Nigeria

Weight In KG

18921855

Weight

18921855

Weight Unit

Kg

 


The formation of OPEC is marked as a turning point towards national sovereignty over natural resources. It plays a prominent role in the global oil market and international relations. Always keep yourself updated from the petroleum crude oil exports in OPEC right here.  For any query, drop an e-mail to info@exportgenius.in. 

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