Refined Oil Exports by Country

Texan Oil Refinery

Texan Oil Refinery

Global sales for exports of refined petroleum oils by country totaled US$785.7 billion in 2018.

Overall, the value of exported refined petroleum oils fell by an average -20.3% for all exporting countries since 2014 when refined oil shipments were valued at $985.6 billion. Year over year, the value of global refined oil exports rose 18.8% from 2017 to 2018.

Among continents, Asia sold the highest dollar worth of refined oil exports during 2018 with shipments valued at $323.6 billion or 41.2% of the global total. In second place were European exporters at 39.6% while 13.9% of worldwide refined oil shipments originated from North America.

Smaller percentages came from Africa (2.4%), Latin America (2.3%) excluding Mexico but including the Caribbean, then Oceania (0.4%) led by Australia and Papua New Guinea.

The 4-digit Harmonized Tariff System code prefix is 2710 for refined petroleum oils, a category that excludes crude oil.

Refined Oil Exports by Country


Below are the 15 countries that exported the highest dollar value worth of refined oil during 2018.

  1. United States: US$94.2 billion (12% of exported refined petroleum)
  2. Russia: $78.1 billion (9.9%)
  3. Netherlands: $54 billion (6.9%)
  4. Singapore: $52 billion (6.6%)
  5. India: $46.8 billion (6%)
  6. South Korea: $44.9 billion (5.7%)
  7. China: $35.8 billion (4.6%)
  8. United Arab Emirates: $31.7 billion (4%)
  9. Belgium: $31.6 billion (4%)
  10. Saudi Arabia: $26.2 billion (3.3%)
  11. Italy: $16.8 billion (2.1%)
  12. Spain: $16.4 billion (2.1%)
  13. Malaysia: $16.2 billion (2.1%)
  14. Germany: $13.9 billion (1.8%)
  15. United Kingdom: $13.7 billion (1.7%)

By value, the listed 15 countries shipped 72.9% of global refined petroleum oil exports in 2018.

Four among the top exporters grew their international sales of refined petroleum oils since 2014 namely: China (up 38.7%), United Arab Emirates (up 15.8%), Spain (up 12.3%) and Saudi Arabia (up 1.7%).

Those countries that posted declines in their export sales of refined petroleum oils were led by: Russia (down -32.6%), United Kingdom (down -32.2%), Germany (down -23.3%), India (down -23.1%) and Belgium (down -22.3%).


The following countries posted the highest positive net exports for refined petroleum oils during 2018. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. Thus, the statistics below present the surplus between the value of each country’s refined oil exports and its import purchases for that same commodity.

  1. Russia: US$77.2 billion (net export surplus down -32.1% since 2014)
  2. India: $41.1 billion (down -27.5%)
  3. United States: $32.7 billion (up 5.6%)
  4. South Korea: $23.9 billion (up 22.9%)
  5. Saudi Arabia: $23.4 billion (down -2.5%)
  6. United Arab Emirates: $21.9 billion (up 10.7%)
  7. Netherlands: $21.4 billion (down -10.5%)
  8. China: $15.7 billion (up 575%)
  9. Qatar: $10.9 billion (up 74.5%)
  10. Greece: $8.1 billion (down -7%)
  11. Belgium: $7.8 billion (down -32.6%)
  12. Spain: $7.7 billion (up 234%)
  13. Kuwait: $7 billion (down -69.1%)
  14. Italy: $6.8 billion (up 14.9%)
  15. Belarus: $5.3 billion (down -44.5%)

Russia has the highest surplus in the international trade of refined oil. In turn, this positive cashflow confirms Russia’s strong competitive advantage for this specific product category.


The following countries posted the highest negative net exports for refined petroleum oils during 2018. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. Thus, the statistics below present the deficit between the value of each country’s refined oil import purchases and its exports for that same commodity.

  1. Mexico: -US$30.5 billion (net export deficit up 62.9% since 2014)
  2. Australia: -$16.6 billion (up 14.4%)
  3. Indonesia: -$16.2 billion (down -36.2%)
  4. France: -$13.7 billion (down -27.4%)
  5. Hong Kong: -$11.9 billion (down -0.8%)
  6. Germany: -$11.7 billion (down -21%)
  7. Nigeria: -$10.4 billion (up 1372.7%)
  8. Turkey: -$9 billion (down -9.3%)
  9. Brazil: -$8.7 billion (down -36.4%)
  10. United Kingdom: -$8.4 billion (up 49.8%)
  11. Vietnam: -$8.3 billion (up 19.8%)
  12. Japan: -$7.4 billion (down -35.9%)
  13. Gibraltar: -$6.9 billion (down -35.9%)
  14. Pakistan: -$6.6 billion (down -18.8%)
  15. Philippines: -$5.6 billion (up 4.2%)

Mexico incurred the highest deficit in the international trade of processed petroleum oils. In turn, this negative cashflow highlights Mexico ‘s strong competitive disadvantage for this specific product category but also signals opportunities for refined oil-supplying countries that help satisfy the powerful demand.


Refined Oil Exporting Companies

According to Forbes Global 2000 rankings, the following oil and gas companies are among the top 40 largest companies in the world:

  • Exxon Mobile (United States)
  • PetroChina (China)
  • Royal Dutch Shell (Netherlands)
  • BP (United Kingdom)
  • Chevron (United States)
  • Gazprom (Russia)
  • Total (France)
  • Sinopec-China Petroleum (China)
  • Petrobras (Brazil)
  • Rosneft (Russia)

The above corporations are presented in the same order as they appear in the Forbes listing.


Searchable List of Refined Oil Exporting Countries in 2018

You can change the presentation order by clicking the triangle icon at the top of any of the columns below.

RankExporterRefined Oil Exports (US$)%World Total
1.United States$94.2 billion12%
2.Russia$78.1 billion9.9%
3.Netherlands$54 billion6.9%
4.Singapore$52 billion6.6%
5.India$46.8 billion6%
6.South Korea$44.9 billion5.7%
7.China$35.8 billion4.6%
8.United Arab Emirates$31.7 billion4%
9.Belgium$31.6 billion4%
10.Saudi Arabia$26.2 billion3.3%
11.Italy$16.8 billion2.1%
12.Spain$16.4 billion2.1%
13.Malaysia$16.2 billion2.1%
14.Germany$13.9 billion1.8%
15.United Kingdom$13.7 billion1.7%
16.Taiwan$13.1 billion1.7%
17.Greece$12.6 billion1.6%
18.Canada$12.2 billion1.6%
19.Qatar$11.3 billion1.4%
20.France$10.6 billion1.4%
21.Japan$10.3 billion1.3%
22.Sweden$10.1 billion1.3%
23.Thailand$8.2 billion1%
24.Algeria$7.7 billion1%
25.Kuwait$7.1 billion0.9%
26.Norway$6.9 billion0.9%
27.Belarus$6.5 billion0.8%
28.Finland$5.9 billion0.8%
29.Lithuania$4.4 billion0.6%
30.Brazil$4.2 billion0.5%
31.Egypt$4.2 billion0.5%
32.Portugal$4 billion0.5%
33.Turkey$3.7 billion0.5%
34.Iraq$3.4 billion0.4%
35.Venezuela$3.2 billion0.4%
36.Colombia$3 billion0.4%
37.Bahrain$2.9 billion0.4%
38.Peru$2.9 billion0.4%
39.Mexico$2.9 billion0.4%
40.Denmark$2.9 billion0.4%
41.Oman$2.8 billion0.4%
42.Romania$2.7 billion0.3%
43.South Africa$2.7 billion0.3%
44.Poland$2.5 billion0.3%
45.Australia$2.3 billion0.3%
46.Bulgaria$2.2 billion0.3%
47.Slovakia$2 billion0.3%
48.Austria$1.9 billion0.2%
49.Hungary$1.7 billion0.2%
50.Estonia$1.5 billion0.2%
51.Slovenia$1.4 billion0.2%
52.Israel$1.4 billion0.2%
53.Croatia$1.3 billion0.2%
54.Trinidad/Tobago$1.3 billion0.2%
55.Czech Republic$1.3 billion0.2%
56.Kazakhstan$1.2 billion0.2%
57.Libya$1.1 billion0.1%
58.Ecuador$946.5 million0.1%
59.Ivory Coast$937.3 million0.1%
60.Indonesia$919.8 million0.1%
61.Panama$871.5 million0.1%
62.Ireland$847.1 million0.1%
63.Cyprus$833.7 million0.1%
64.Switzerland$745.1 million0.1%
65.Turkmenistan$642.9 million0.1%
66.Hong Kong$625 million0.1%
67.Argentina$619.4 million0.1%
68.Iran$495.6 million0.1%
69.Chile$488.1 million0.1%
70.Philippines$456.4 million0.1%
71.Malta$389.1 million0.05%
72.Tunisia$375.4 million0.05%
73.Lebanon$373.2 million0.05%
74.Papua New Guinea$364.6 million0.05%
75.Morocco$332 million0.04%
76.Serbia$318.9 million0.04%
77.Vietnam$262.9 million0.03%
78.Ukraine$249.7 million0.03%
79.Angola$245.9 million0.03%
80.Latvia$241.9 million0.03%
81.Bahamas$240.9 million0.03%
82.Pakistan$235.9 million0.03%
83.Azerbaijan$230.3 million0.03%
84.Togo$218.6 million0.03%
85.Fiji$204 million0.03%
86.Congo$196 million0.02%
87.Gabon$162.9 million0.02%
88.Curaçao$162.9 million0.02%
89.Nigeria$156.6 million0.02%
90.Uganda$129 million0.02%
91.Suriname$122.2 million0.02%
92.Iceland$115 million0.01%
93.El Salvador$113.6 million0.01%
94.Jordan$110.1 million0.01%
95.Barbados$109.2 million0.01%
96.Cameroon$87.5 million0.01%
97.Bosnia/Herzegovina$86 million0.01%
98.Kyrgyzstan$84.8 million0.01%
99.Senegal$84.1 million0.01%
100.North Macedonia$73.9 million0.01%
101.Gibraltar$66.4 million0.01%
102.Madagascar$50.7 million0.01%
103.Kenya$49.5 million0.01%
104.Bolivia$46.7 million0.01%
105.Georgia$46.3 million0.01%
106.Dominica$42.3 million0.01%
107.New Zealand$41.5 million0.01%
108.Sri Lanka$40.5 million0.01%
109.Eswatini$38.6 million0.005%
110.Ghana$38.4 million0.005%
111.US Minor Outlying Is$30.5 million0.004%
112.Burkina Faso$27.1 million0.003%
113.Myanmar (Burma)$25.7 million0.003%
114.Bangladesh$25.4 million0.003%
115.Dominican Republic$22 million0.003%
116.Uruguay$21.7 million0.003%
117.Liberia$20.9 million0.003%
118.Marshall Islands$19.9 million0.003%
119.Tanzania$19.9 million0.003%
120.Mozambique$19.7 million0.003%
121.Moldova$18.3 million0.002%
122.Uzbekistan$18 million0.002%
123.Guatemala$16.4 million0.002%
124.Niger$15.8 million0.002%
125.Maldives$14.2 million0.002%
126.Belize$13.4 million0.002%
127.Antigua/Barbuda$12.9 million0.002%
128.Brunei Darussalam$12.8 million0.002%
129.Albania$12.8 million0.002%
130.Seychelles$11.5 million0.001%
131.Benin$9.7 million0.001%
132.Nicaragua$8.5 million0.001%
133.Democr. Rep. Congo$6.8 million0.001%
134.Cuba$5.7 million0.001%
135.Luxembourg$5.5 million0.001%
136.Namibia$5 million0.001%
137.Macao$4.7 million0.001%
138.Saint Lucia$4.7 million0.001%
139.Aruba$4.6 million0.001%
140.Zambia$3.8 million0.0005%
141.Costa Rica$3 million0.0004%
142.Jamaica$3 million0.0004%
143.Afghanistan$2.9 million0.0004%
144.Faroe Islands$2.6 million0.0003%
145.Turks/Caicos Islands$2.6 million0.0003%
146.British Virgin Islands$2.3 million0.0003%
147.American Samoa$1.4 million0.0002%
148.North Korea$1.1 million0.0001%
152.Cayman Islands$375,0000.00005%
159.Sierra Leone$180,0000.00002%
161.Syrian Arab Republic$160,0000.00002%
165.French Polynesia$100,0000.00001%
168.St. Pierre/Miquelon$61,0000.00001%
173.French S./Antarctic Terr$40,0000.00001%
174.St Vincent/Grenadines$34,0000.000004%
182.Central African Rep$6,0000.000001%
185.New Caledonia$3,0000.0000004%
187.Cook Islands$2,0000.0000003%
188.Equatorial Guinea$2,0000.0000003%
190.South Sudan$2,0000.0000003%

See also Russia’s Top Trading Partners, Crude Oil Exports by Country and Largest Oil and Gas Export Companies

Research Sources:
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on June 1, 2019

Investopedia, Net Exports Definition. Accessed on June 1, 2019

The World Factbook, Field Listing: Exports – Commodities, Central Intelligence Agency. Accessed on June 1, 2019

Trade Map, International Trade Centre. Accessed on June 1, 2019

Wikipedia, Big Oil. Accessed on June 1, 2018