Crude Oil Exports by Country

November 30, 2018 by

Oil rig in action

Oil rig in action

Amounting to 4.3% of the worldwide value of all export products, global crude oil shipments totaled US$841.1 billion for 2017. That dollar figure reflects a -46.5% decline since 2013 but a 30.4% increase from 2016 to 2017.

Crude oil is the world’s number 2 export product outpaced only by the value of exported cars–at least in 2017 when oil prices continue to be relatively lower and while international automobile sales were strong.

Middle Eastern countries accounted for the highest dollar value worth of crude oil exports during 2017 with shipments valued at $356.3 billion or 42.4% of globally exported crude oil. At the continent level, almost half comes from countries in Asia (49.4%). Europe supplies 18% of the overall total, followed by Africa at 13.4% and North America at 11.4%.

Smaller percentages originate from Latin America excluding Mexico but including the Caribbean (6.9%), and Oceania led by Australia (0.6%).

The 4-digit Harmonized Tariff System code prefix for crude oil is 2709.

Crude Oil Exports by Country

Countries

Below are the 15 countries that exported the highest dollar value worth of crude oil during 2017:

  1. Saudi Arabia: US$133.6 billion (15.9% of total crude oil exports)
  2. Russia: $93.3 billion (11.1%)
  3. Iraq: $61.5 billion (7.3%)
  4. Canada: $54 billion (6.4%)
  5. United Arab Emirates: $49.3 billion (5.9%)
  6. Iran: $40.1 billion (4.8%)
  7. Kuwait: $38.2 billion (4.5%)
  8. Nigeria: $33 billion (3.9%)
  9. Angola: $30.5 billion (3.6%)
  10. Kazakhstan: $26.6 billion (3.2%)
  11. Norway: $25.9 billion (3.1%)
  12. Venezuela: $23.1 billion (2.7%)
  13. United States: $21.8 billion (2.6%)
  14. Mexico: $19.9 billion (2.4%)
  15. United Kingdom: $19 billion (2.3%)

The listed 15 countries accounted for 79.6% of all crude oil exports in 2017 (by value).

Only two of the above top 15 exporters increased the value of their crude oil shipments from 2013 to 2017, namely the United States with its 328% improvement in revenue and Iraq via a modest 0.6% gain.

The 13 other top sources of crude oil posted declines over the 5-year period ranging from -69.2% for Venezuela and -55.5% for Nigeria down to -32% for Canada and -14.5% for Iran.

Other notable declines include -54.5% for Saudi Arabia, -53.6% for Kazakhstan, -53.4% for Angola, -53.3% for Mexico, -52.1% for Kuwait, -48% for Norway and -46.3% for Russia.

For the complete listing, see the section Searchable List of Crude Oil Exporting Countries below.

Advantages

The following countries posted the highest positive net exports for crude oil during 2017. 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 crude oil exports and its import purchases for that same commodity.

  1. Saudi Arabia: US$133.6 billion (net export surplus down -54.5% since 2013)
  2. Russia: $93.3 billion (down -46.3%)
  3. Iraq: $61.5 billion (up 0.6%)
  4. United Arab Emirates: $48.8 billion (down -44.1%)
  5. Canada: $41.2 billion (down -22.4%)
  6. Iran: $40.1 billion (down -14.5%)
  7. Kuwait: $38.2 billion (down -52.1%)
  8. Nigeria: $33 billion (down -55.5%)
  9. Angola: $30.5 billion (down -53.4%)
  10. Kazakhstan: $26.6 billion (down -51.2%)
  11. Norway: $25.2 billion (down -47.8%)
  12. Venezuela: $23.1 billion (down -69.2%)
  13. Mexico: $19.9 billion (down -53.3%)
  14. Libya: $15.7 billion (down -54.7%)
  15. Qatar: $15.6 billion (down -37.3%)

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

Opportunities

The following countries posted the highest negative net exports for crude oil during 2017. 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 crude oil import purchases and its exports for that same commodity.

  1. China: -US$160.4 billion (net export deficit down -26.5% since 2013)
  2. United States: -$117.2 billion (down -57.3%)
  3. Japan: -$63.7 billion (down -56.3%)
  4. India: -$60.2 billion (down -59.3%)
  5. South Korea: -$59.6 billion (down -40%)
  6. Germany: -$36.2 billion (down -52.2%)
  7. Netherlands: -$28.1 billion (down -46.1%)
  8. Italy: -$25.7 billion (down -44.1%)
  9. Spain: -$25 billion (down -44.8%)
  10. France: -$23.8 billion (down -47.8%)
  11. Singapore: -$21.3 billion (down -39.9%)
  12. Thailand: -$19.4 billion (down -48.7%)
  13. Taiwan: -$16.9 billion (down -49.7%)
  14. Belgium: -$14.4 billion (down -45.3%)
  15. Poland: -$8.9 billion (down -49.9%)

China incurred the highest deficit in the international trade of crude oil albeit at a slowing pace given the -26.5% drop in its crude oil deficit size since 2013. Still, the negative cashflow highlights China’s strong competitive disadvantage for this specific product category. The other side of the coin is that these deficits signal opportunities for crude oil-supplying countries that help satisfy the powerful demand, and also for entrepreneurs who develop alternative energy sources that can power industrial economies.

Companies

Crude Oil Exporting Companies

Based on the Forbes 2016 Global 2000 rankings, the following oil and gas companies are among the top 100 largest companies in the world:

  • Exxon Mobil (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)
  • Eni (Italy)
  • Statoil (Norway)
  • ConocoPhillips (United States)
  • LukOil (Russia)

The above corporations are presented in the same order as they appear in Forbes listings. Shown within parentheses is the country where each conglomerate has its headquarters.



Searchable List of Crude Oil Exporting Countries

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

RankExporter2017 Crude Oil Exports% World Total
1.Saudi ArabiaUS$133.6 billion15.9%
2.Russia$93.3 billion11.1%
3.Iraq$61.5 billion7.3%
4.Canada$54 billion6.4%
5.United Arab Emirates$49.3 billion5.9%
6.Iran$40.1 billion4.8%
7.Kuwait$38.2 billion4.5%
8.Nigeria$33 billion3.9%
9.Angola$30.5 billion3.6%
10.Kazakhstan$26.6 billion3.2%
11.Norway$25.9 billion3.1%
12.Venezuela$23.1 billion2.7%
13.United States$21.8 billion2.6%
14.Mexico$19.9 billion2.4%
15.United Kingdom$19 billion2.3%
16.Brazil$16.6 billion2%
17.Libya$15.7 billion1.9%
18.Qatar$15.6 billion1.9%
19.Oman$15 billion1.8%
20.Azerbaijan$14.3 billion1.7%
21.Algeria$12.7 billion1.5%
22.Colombia$10.9 billion1.3%
23.Netherlands$9.3 billion1.1%
24.Malaysia$6.9 billion0.8%
25.Ecuador$6.2 billion0.7%
26.Indonesia$5.2 billion0.6%
27.Congo$4.1 billion0.5%
28.Australia$4 billion0.5%
29.Equatorial Guinea$3.5 billion0.4%
30.Gabon$3.3 billion0.4%
31.Vietnam$2.9 billion0.3%
32.Ghana$2.6 billion0.3%
33.Brunei Darussalam$2.2 billion0.3%
34.Egypt$2.1 billion0.3%
35.China$1.8 billion0.2%
36.Cameroon$1.4 billion0.2%
37.Denmark$1.3 billion0.2%
38.South Sudan$1.3 billion0.2%
39.South Africa$1.3 billion0.2%
40.Chad$1.1 billion0.1%
41.Yemen$868.2 million0.1%
42.Belgium$857.1 million0.1%
43.Papua New Guinea$818.8 million0.1%
44.Thailand$694.9 million0.1%
45.Spain$673 million0.1%
46.Côte d'Ivoire$628.6 million0.1%
47.Sudan$603.4 million0.1%
48.Argentina$575.2 million0.1%
49.Tunisia$464.5 million0.1%
50.Democratic Rep. Congo$454.5 million0.1%
51.New Zealand$448.5 million0.1%
52.Italy$364.1 million0.04%
53.Mongolia$361.9 million0.04%
54.Sweden$330.1 million0.04%
55.Trinidad/Tobago$308.7 million0.04%
56.Philippines$185.9 million0.02%
57.Turkmenistan$134 million0.02%
58.Poland$121.7 million0.01%
59.Guatemala$118.3 million0.01%
60.Pakistan$114.5 million0.01%
61.Ireland$104.7 million0.01%
62.Togo$95.4 million0.01%
63.Timor-Leste$73.4 million0.01%
64.Singapore$69.9 million0.01%
65.Mauritania$69 million0.01%
66.Greece$57 million0.01%
67.Bahamas$51.3 million0.01%
68.Liberia$47.8 million0.01%
69.Myanmar (Burma)$45.5 million0.01%
70.Georgia$37.2 million0.004%
71.Bolivia$34.3 million0.004%
72.Hungary$30.9 million0.004%
73.Germany$30.4 million0.004%
74.Ukraine$28.9 million0.003%
75.Curaçao$28.4 million0.003%
76.Slovakia$24 million0.003%
77.Peru$23.6 million0.003%
78.France$22.9 million0.003%
79.Romania$22.5 million0.003%
80.Guinea$20.7 million0.002%
81.Lithuania$16.3 million0.002%
82.Barbados$12.8 million0.002%
83.Belize$11.4 million0.001%
84.Czech Republic$9.1 million0.001%
85.Japan$6.2 million0.001%
86.Kyrgyzstan$4.7 million0.001%
87.Israel$2.3 million0.0003%
88.Latvia$2.3 million0.0003%
89.Moldova$1.9 million0.0002%
90.Estonia$1 million0.0001%
91.Bulgaria$560,0000.0001%
92.Serbia$266,0000.00003%
93.Niger$155,0000.00002%
94.Jordan$152,0000.00002%
95.Croatia$127,0000.00002%
96.Slovenia$29,0000.000003%
97.Uganda$17,0000.000002%
98.Switzerland$10,0000.000001%
99.Samoa$10,0000.000001%
100.Swaziland$9,0000.000001%
101.Kenya$9,0000.000001%
102.Bangladesh$7,0000.000001%
103.South Korea$6,0000.000001%
104.Ethiopia$5,0000.000001%
105.Cyprus$5,0000.000001%
106.Belarus$3,0000.0000004%
107.Cuba$2,0000.0000002%
108.Dominican Republic$2,0000.0000002%
109.Lebanon$1,0000.0000001%
110.Cambodia$1,0000.0000001%
111.Bahrain$1,0000.0000001%
112.Senegal$1,0000.0000001%
113.Panama$1,0000.0000001%
114.Namibia$1,0000.0000001%
115.Mauritius$1,0000.0000001%
116.Mozambique$1,0000.0000001%

See also US Crude Oil Imports by Supplier Countries, Iron Ore Exports by Country, Crude Oil Imports by Country and Largest Oil and Gas Export Companies

Research Sources:
The World Factbook, Field Listing: Exports – Commodities, Central Intelligence Agency. Accessed on May 15, 2018

Trade Map, International Trade Centre. Accessed on May 15, 2018

Investopedia, Net Exports Definition. Accessed on May 15, 2018

Wikipedia, Big Oil. Accessed on May 15, 2018
Forbes 2015 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on May 15, 2018







Filed Under: Energy, Top products