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The Top 10 Oil Exporters In The World: Global Import-Export Data

President Joe Biden issued an executive order on Tuesday prohibiting the purchase of Russian oil, LNG, and coal. In 2020, Russia accounted for less than 7% of American oil imports.

Oil is the world’s most exported commodity. Crude petroleum made for 5.44 percent of world commerce in 2019.

Based on the Global Import-Export Data, Saudi Arabia has always led the world in yearly oil exports, but that changed in 2019—the most recent year for which we have data—when the United Arab Emirates surpassed Saudi Arabia as the world’s largest oil exporter. In addition, the United States has expanded its share in world oil exports, accounting for 5.71 percent in 2019, up from 0.75 percent in 2014.

According to statistics given to the United Nations Statistical Division, the top 10 oil-exporting nations in the world are mentioned below. These ten countries are responsible for roughly three-quarters of all world oil exports.

United Arab Emirates

In 2019, as per the global import-export data, the United Arab Emirates, a small country around the size of South Carolina, exported $176 billion in oil, accounting for 16.13% of world oil exports.

Despite being the world’s largest oil exporter, the UAE ranks sixth in terms of oil production. In 2020, it will produce 3.78 million barrels per day, accounting for 4% of world output.

The UAE is thought to contain the world’s seventh-largest oil reserves, totaling over 100 billion barrels. Though oil and gas production still makes up around 30% of GDP, the country’s economy is less reliant on them than it formerly was.

Kuwait

Kuwait’s ranking among the world’s top oil exporters is noteworthy, given its modest size. The nation is roughly the size of Connecticut and is located on the Arabian Peninsula.

Kuwait exported more than $82 billion worth of oil in 2019, accounting for 7.55 percent of worldwide oil exports.

Kuwait produced around 2.75 million barrels of oil per day in 2020, making it the tenth-largest producer on the planet.  The nation has the sixth-largest reserves in the world.

Saudi Arabia

Global import-export trade data suggests that Saudi Arabia was the world’s top oil exporter country until the United Arab Emirates surpassed it in 2019, although it still accounted for 11.54 percent of worldwide oil exports in 2019.

It is also the Organization of Petroleum Exporting Countries (OPEC) largest oil producer, producing 10.81 million barrels per day in 2020, accounting for nearly 12% of global output.

Saudi Arabia controls around 15% of the world’s oil reserves. As a result, the industry contributes up to 70% of the country’s exports and more than half of the government’s revenue.

Iraq

Iraq was the world’s second-largest oil exporter until 2016, but it now ranks fifth in 2019, exporting roughly 6.34 percent of global oil exports.

However, behind Saudi Arabia, it is OPEC’s second-largest producer.

Iraq possesses the world’s fifth-largest oil reserves, although most of them have either been tapped or are being produced, according to the US Energy Information Agency. Iraq also confronts the problem of being overly reliant on oil, which accounted for 91 percent of the country’s revenue in 2018.

Russia

Russia is in third place. It exported $115 billion worth of goods in 2019, accounting for 10.53 percent of world exports.

Major companies like Rosneft, Surgutneftegas, and Gazprom produced as much as 10.5 million barrels per day in 2020. This is equivalent to 11% of world oil output.

The European market, as well as the Russian oil sector, are heavily reliant on European imports. In 2020, Europe received 48 percent of oil exports. Between 2011 and 2020, oil and natural gas accounted for around 43% of Russia’s government income.

After Russia took Crimea from Ukraine in 2014, the US and the European Union (EU) imposed economic sanctions. As a result, Russian energy firms are unable to access these areas’ financing markets. In February 2022, Russia launched a new invasion of Ukraine, forcing the US to impose even tougher sanctions, including an embargo on Russian oil imports.

United States of America

The United States is the world’s seventh-largest exporter of crude oil. In 2019, according to the global import-export data year-wise, it exported $62 billion worth of oil, accounting for 5.71 percent of world exports. 5 As previously stated, the country’s oil output rose dramatically between 2011 and 2020. The United States produced 18.61 million barrels of oil per day in 2020, accounting for over 20% of world output.

Some of the world’s top oil corporations are headquartered in the United States, including Chevron (CVX), ConocoPhillips (COP), and Exxon Mobil (XOM).

Mexico

In 2019, Mexico was the ninth-largest oil exporter. Its $37.1 billion in exports represented 3.4 percent of the global total. Mexico’s known oil reserves are small in comparison to the other nations on this list, comprising just 5.7 billion barrels. Regardless, Mexico is the Americas’ fourth-largest oil producer, after only the United States, Canada, and Brazil.

Mexico’s oil sector, like Canada’s, is intertwined with that of its neighbor. In 2019, Mexico exported 51 percent of its oil to the United States, accounting for nearly 9% of the country’s total oil imports.

Norway

In 2019, Norway exported $27.3 billion in oil, accounting for 2.5 percent of world oil commerce. This places it as the world’s tenth-largest oil exporter.

Norway possesses Western Europe’s greatest oil reserves and exports the vast bulk of its oil to its European neighbors.

Despite the fact that production has slowed gradually in the twenty-first century, the oil sector still contributes 50% of Norwegian exports and over 20% of GDP.

Canada

Canada is the world’s sixth-largest oil exporter country. In 2019, it exported $68 billion worth of oil, accounting for 6.25 percent of world output. It has the world’s third-largest known oil reserves, at 167 billion barrels. Alberta’s oil sands hold the majority of such reserves.

Canada’s oil sector is, as is frequently the case, inextricably linked to the American economy. In 2018, the United States received 96 percent of Canadian oil exports, while Canadian oil accounted for 48 percent of all U.S. oil imports.

Enbridge (ENB.TO), Suncor (SU.TO), and Imperial Oil (IOC.TO) are just a few of the world’s largest energy corporations that call Canada home (IMO.TO).

Nigeria

Nigeria, the most populous country in Africa, was the world’s seventh-largest oil exporter in 2019. The country exported $38.7 billion in oil, accounting for around 3.5 percent of world output.

Nigeria has the continent’s second-largest proven oil reserves. The Gulf of Guinea and the Bight of Benin hold the majority of the country’s 37 billion barrels of reserves.

Nigeria’s oil is imported by a somewhat varied group of people. Nigerian exports to India accounted for 20% of total exports in 2018, with 11% going to Spain, 10% to the Netherlands, and 10% to the United States as per the global import-export trade statistics. The Nigerian government, on the other hand, has a significantly narrower range of revenue sources. Non-oil revenue makes up only 3.4 percent of the government’s total revenue.

Some of the top countries we provide  import-export trade data on

India import data                                                                                     India export data

Vietnam import data                                                                           Vietnam export data

Indonesia import data                                                                       Indonesia export data

Turkey import data                                                                                 Turkey export data

Bangladesh import data                                                                  Bangladesh export data

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