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List of countries by oil exports

From Wikipedia, the free encyclopedia
Crude oil export revenue by country (annually)
A world map of countries by oil exportation, 2022.

This is alist of oil-producing countries byoilexportsbased on data for 2022 byCEIC.Oil in this list refers to base crude oil only, and not refined petroleum products such as gasoline, diesel and airplane fuel.

In 2022,Saudi Arabiawas the largest exporter of petroleum, followed byRussiaandIraq.Other major exporters of petroleum in that year included theUnited States,CanadaandUnited Arab Emirates.In 2022, Saudi Arabia also had the largest oil export value in US dollar terms by far.

Many of these countries alsoimport oil,and some import more oil than they export, this is known as an oil export deficit.

In contrast, when a country exports more oil than it imports, it is known as an oil export surplus. The second table in this page shows which countries have the largest oil export surplus in US dollar terms. Russia was the world leader in 2022 for this category.

Countries by rank[edit]

Country Continent Oil exports
2022 (bbl/day)[1] 		Export Value
2022 (US$)[2]
Saudi Arabia(OPEC) Asia 7,363,640 $224,795,271,000
Russia(OPEC+) Europe/Asia 4,780,354 $119,530,010,000
Iraq(OPEC) Asia 3,712,420 $82,288,984,000
United States North America 3,604,000 $117,034,462,000
Canada North America 3,350,200 $120,502,814,000
United Arab Emirates(OPEC) Asia 2,717,117 $112,723,309,000
Kuwait(OPEC) Asia 1,878,852 $54,328,256,000
Norway Europe 1,558,159 $57,757,614,000
Nigeria(OPEC) Africa 1,388,260 $49,871,423,000
Brazil(OPEC+) South America 1,346,417 $42,688,099,000
Kazakhstan(OPEC+) Asia/Europe 1,315,167 $35,367,741,000
Angola Africa 1,084,911 $37,400,459,000
Mexico(OPEC+) North America 1,011,790 $31,779,788,000
Oman(OPEC+) Asia 921,803 $33,227,075,000
Libya(OPEC) Africa 919,828 $31,890,426,000
Iran(OPEC) Asia 900,632 $565,409,000
United Kingdom Europe 540,191 $21,273,239,000
Colombia South America 487,000 $16,185,817,000
Algeria(OPEC) Africa 476,896 $17,466,958,000
Qatar Asia 475,353 $23,395,784,000
Azerbaijan(OPEC+) Asia/Europe 441,333 $19,483,624,000
Venezuela(OPEC) South America 438,173 $573,231,000
Ecuador South America 313,333 $10,834,642,000
Australia Oceania 243,573 $10,128,798,000
Congo(OPEC) Africa 242,839 $6,691,573,000
Malaysia(OPEC+) Asia 203,333 $7,943,406,000
Gabon(OPEC) Africa 184,911 $5,426,730,000
Bahrain(OPEC+) Asia 151,583 $402,622,000
Sudan(OPEC+) Africa 116,405 $712,831,000
Equatorial Guinea(OPEC) Africa 80,721 $3,495,618,000
Egypt Africa 71,083 $2,963,094,000
Vietnam Asia 55,083 $2,032,103,000
Trinidad and Tobago South America 54,083 $2,303,818,000
China Asia 41,489 $1,438,104,000
Indonesia Asia 39,583 $1,572,374,000
Brunei(OPEC+) Asia 38,917 $1,975,984,000
Somaliland Africa $0

Oil export revenues[edit]

Academic contributors have written about differences in petroleum revenue management in various countries. Many scholars see the natural resource wealth in some countries as a blessing, while others have referred to it as a naturalresource curse.[3]A vast body of resource curse literature has studied the role of governance regimes, legal frameworks and political risk in building an economy based on natural resource exploitation.[4][5][6]However, whether it is seen as a blessing or a curse, the recent political decisions regarding the future of petroleum production in many countries were given anextractivistdirection[clarification needed],thus also granting a status quo[clarification needed]to theexploitation of natural resources.[7] ThePRIX indexforecasts the effect of political developments on exports from major petroleum-producing countries.[8]

Largest Oil Export Surplus[edit]

A country's oil export surplus can be calculated by subtracting the value of its oil imports from the value of its oil exports. Countries with oil export surpluses tend to be moreenergy independentthan those with oil export deficits (importing more oil than they export).

Country Continent Oil Export Surplus
2022 (US$ billions)[2]
Russia Europe/Asia + $346.7
Saudi Arabia(OPEC) Asia + $265.1
Norway Europe + $203.1
United Arab Emirates(OPEC) Asia + $167.8
Canada North America + $135.0
Australia Oceania + $113.2
Qatar Asia + $94.9
Iraq(OPEC) Asia + $87.3
Kuwait(OPEC) Asia + $69.6
Algeria(OPEC) Africa + $57.7
United States North America + $55.9
Oman Asia + $52.8
Angola Africa + $43.4
Kazakhstan Asia/Europe + $42.8
Azerbaijan Asia/Europe + $34.0

See also[edit]

References[edit]

  1. ^"Crude Oil: Exports".CEIC.ISI Emerging Markets Group.Retrieved15 April2024.
  2. ^ab"Crude Oil Exports by Country".World's Top Exports.EZOIC.Retrieved15 April2024.
  3. ^Sachs J. D.; Warner A.M. (2001)."The curse of natural resources"(PDF).European Economic Review.Vol. 4, no. 45. Archived fromthe original(PDF)on 2017-05-17.Retrieved2016-07-13.
  4. ^Humphreys, M., Sachs, J. and Stiglitz, J. E. (2007)."Escaping the resource curse".European economic review.Cambridge University Press.{{cite news}}:CS1 maint: multiple names: authors list (link)
  5. ^Tietenberg, T. H.;Lewis, L. (2000). "Environmental and natural resource economics".
  6. ^Ross, M. L. (2003)."The natural resource curse: How wealth can make you poor".European Economic Review.ISBN978-0-8213-5503-9.
  7. ^Wilson, E.; Stammler, F. (2015). "Beyond extractivism and alternative cosmologies: Arctic communities and extractive industries in uncertain times".European Economic Review.Vol. 3, no. 1. pp. 1–8.doi:10.1016/j.exis.2015.12.001.
  8. ^"Nuclear Negotiations, Restructuring at Chevron and a New Political Risk Index for Oil Markets".Alberta Oil Magazine.2015-06-29. Archived fromthe originalon 2015-12-20.Retrieved2015-09-26.
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