Latest

Related Posts

Top 25 Oil Exporting Countries in the World in 2024

Crude oil, a crucial oil, is exporting across the world, navigating a complex web of factors that influence its global market dynamics.

- Advertisement -

The Top 25 Oil Exporting Countries in the World in 2024 will be examined in this article. It takes a sophisticated grasp of the many variables that influence the dynamics of the global oil market to navigate its complex web. As we approach 2024, it is evident how crucial oil is as a foundational commodity.

This sector’s importance underscores the need to learn more about the Top 25 Oil Exporting Nations in 2024. PPE, plastics, chemicals, fertilizers, medicines, and many other industries use petroleum products.

- Advertisement -

The value of the crude oil market was $1424.38 billion in 2022, and it is expected to rise at a compound annual growth rate (CAGR) of 1.8% to reach $1613.84 billion by 2029. This projected expansion highlights how crucial crude oil will always be as a global commodity, even in the face of changing energy markets and sustainability issues. In contrast to the IEA’s estimate of 1.1 million barrels per day for the same period, OPEC projects that global oil demand will reach 2.25 million barrels per day in 2024.

As stated by U.S. According to the Energy Information Administration, U.S. crude oil exports reached a significant milestone in the first half of 2023 when they averaged 3.99 million barrels per day (b/d). This number is the highest for the first half of a year since 2015, the year the U.S. lifted its restriction on the majority of crude oil exports.

Europe was the region’s top recipient of crude oil in terms of volume during the first half of 2023, with 1.75 million barrels per day (b/d) exported by the United States. Interestingly, the UK and the Netherlands accounted for the majority of this substantial amount through exports. Closely behind, Asia ranked as the second-biggest regional destination over the same period, taking in 1.68 million b/d, mostly from exports to South Korea and China. In addition, the US exported relatively modest amounts of crude oil to South America, Africa, Central America, and Canada.

It’s important to remember that, as a net importer of crude oil, the United States continues to import more crude oil than it exports, even with the spike in exports seen in the first half of 2023. This relationship highlights how important it is for the US to continue to be a key participant in the world’s crude oil trade while keeping a careful balance between import and export operations.

The objective of this article is to present a thorough analysis of the world’s top 25 oil exporting nations in 2024, highlighting the changing dynamics of oil production and exports. The Russia-Ukraine war has become a crucial factor in the constantly shifting dynamics, having a notable impact on the world oil market. Russia has made the strategic decision to reroute its petroleum and crude shipments to South and East Asia in response to geopolitical developments, which will have significant effects.

Meanwhile, the European markets that were formerly supplied with oil and products from the Middle East and Asia have undergone a recalibration. The United States and the European Union have responded by putting wide sanctions on Russia’s exports while the geopolitical undercurrents change commercial patterns. Large exclusions and a cautious enforcement strategy, however, limit these regulations.

Notably, the battle has caused the price of WTI crude oil to fluctuate by 70.72% and the price of Brent crude oil to fluctuate by 73.62%, highlighting the significant impact of geopolitical events on the volatility of oil markets.

Top 20 Most Expensive Boarding Schools in the World

This article essentially examines the Top 25 Oil Exporting Nations in the World in 2024, summarizing the interdependencies between the world’s economies, the subtleties of geopolitics, and market dynamics that together influence the direction of the oil sector in the modern period. It is also essential to highlight some of the major industry titans that have left their impact, such as Chevron Corporation (NYSE:CVX), ConocoPhillips (NYSE:COP), and Exxon Mobil Corporation (NYSE:XOM).

Top 25 Oil Exporting Countries in the World in 2024

25. Ghana

Exports of Crude Oil in 2022: $5,591,254,000

First on our list of the Top 25 Oil Exporting Nations in the World for 2024 is Ghana, a major exporter of oil from the Gulf of Guinea that has experienced substantial economic change since offshore reserves were found. It has effectively negotiated the industry’s difficulties by utilizing strategic partnerships, which has fueled growth and diversified its economy. Ghana’s oil journey highlights the country’s dedication to sustainable growth and wealth, positioning it as a beacon of progress in West Africa.

24. Congo’s Democratic Republic

Exports of crude oil in 2022: $6,691,573,000

Despite obstacles, the Democratic Republic of the Congo (DRC) has grown into a significant oil exporter. With large oil reserves, especially in the east, Congo hopes to use its oil resources to spur economic expansion while luring investment and enhancing infrastructure, underscoring its rise to prominence in the African energy market. On our list of the Top 25 Oil Exporting Nations in the World for 2024, Congo is ranked number 24.

23. Malaysia

Crude Oil Exports: $7,943,406,000 in 2022

Malaysia’s oil exports fell from 209.182 thousand barrels per day in December 2021 to 203.333 thousand barrels per day in December 2022. In spite of this, Malaysia continues to play a significant role in the global LNG and oil markets, underscoring the dynamic character of the sector and the nation’s continuous efforts to hold onto its place in Southeast Asia’s energy landscape.

22. Australia

Exports of Crude Oil in 2022: $10,128,798,000

Australia’s oil exports decreased from 257.284 thousand barrels per day in December 2021 to 243.573 thousand barrels per day in December 2022. Australia continues to be a major oil exporter, supporting both its economy and the world’s energy markets, despite this downturn. These erratic export numbers demonstrate the oil industry’s dynamic character, which makes continual innovation and adaptation necessary to preserve Australia’s standing in the world energy arena.

21. Ecuador

Crude Oil Exports: $10,834,642,000 in 2022

On our list of the Top Oil Exporting Nations in the World for 2024, Ecuador comes in at number twenty-first. Ecuador’s oil exports fell from 315.833 thousand barrels per day in December 2021 to 313.333 thousand barrels per day in December 2022. Ecuador is still a major oil exporter in spite of this, which is important for both its economy and the world’s energy markets. These swings highlight how fluid the oil business is, making constant tactics necessary to preserve Ecuador’s standing in the world energy arena.

20. Colombia

Crude Oil Exports: $16,185,817,000 in 2022

Colombia’s oil exports increased from 422.167 thousand barrels per day in December 2021 to 487.000 thousand barrels per day in December 2022, reaffirming its position as a significant worldwide exporter. This rise highlights Colombia’s importance to its economy and energy markets, underscoring the necessity of continuing tactics to uphold and improve its standing in the sector.

19. Algeria

Crude Oil Exports: $17,466,958,000 in 2022

Algeria became a major global exporter as its crude oil shipments increased to 476.896 thousand barrels per day in December 2022 from 445.982 thousand barrels per day in December 2021. This increase emphasizes Algeria’s significance in the energy markets and its economy, underscoring the need for ongoing measures to strengthen Algeria’s position in the sector.

18. The Azerbaijan

Crude Oil Exports: $19,483,624,000 in 2022

Crude oil exports from Azerbaijan fell from 482.750 thousand barrels per day in December 2021 to 441.333 thousand barrels per day in December 2022. Azerbaijan is still a major oil exporter, which is important for its economy and the world’s energy markets, notwithstanding this downturn. These variations underscore the industry’s dynamic character and the necessity of continuous endeavors to preserve Azerbaijan’s standing in the international energy arena.

Discover the Top 14 Canadian Stocks to Invest in for 2024

17. United Kingdom

Crude Oil Exports: $21,273,239,000 in 2022

We rank the United Kingdom seventeenth among the Top 25 Oil Exporting Nations for 2024. From December 2021 to December 2022, the United Kingdom exported 540.191 thousand barrels of crude oil per day. Even with this decline, the UK is still a major oil exporter, which is important for the world’s energy markets. Variations in the sector emphasize the need to maintain the UK’s global competitiveness in the energy industry.

16. Qatar

Exports of Crude Oil in 2022: $23,395,784,000

In December 2022, Qatar exported 475.353 thousand barrels of crude oil per day, a little increase from 474.261 thousand barrels per day in the same month the previous year. Notwithstanding these oscillations, Qatar continues to be a major oil exporter and an important player in the world energy markets as well as its own economy.

15. Mexico

Exports of Crude Oil in 2022: $31,779,788,000

With its substantial reserves and long-established industry, Mexico is a prominent oil exporter. Despite obstacles, Mexico continues to play a significant role in global energy supply chains.

14. Libya

Exports of Crude Oil in 2022: $31,890,426,000

Libya’s daily crude oil shipments fell from 1,090.621 thousand barrels in December 2021 to 919.828 thousand barrels in December 2022. Libya continues to be a major oil exporter despite this decline, underscoring the industry’s dynamic nature and the necessity of constant adaptation to preserve its standing in the world.

13. Oman

Exports of Crude Oil in 2022: $33,227,075,000

Oman is ranked Thirteenth on our ranking of the Top 25 Oil Exporting Nations in the World for 2024. From 896.706 thousand barrels per day in December 2021 to 921.803 thousand barrels per day in December 2022, Oman’s crude oil exports increased. With its dynamic nature and continual efforts to maintain its global position, Oman remains a major oil exporter.

12. Kazakhstan

Crude Oil Exports: $35,367,741,000 in 2022

From December 2021 to December 2022, Kazakhstan exported 1,323,000 barrels per day of crude oil. In spite of this, Kazakhstan continues to play a significant role in the world oil market, demonstrating the dynamic nature of the sector and the necessity of ongoing adaptation to maintain market share.

11. Angolo

Exports of Crude Oil in 2022: $37,400,459,000

The abundant reserves and well-established industry of Angola make it a major oil exporter. Angola continues to be a major player in the global oil trade despite sporadic oscillations, highlighting the industry’s dynamic character and the need for ongoing adaptation to maintain its position.

10. Brazil

Exports of crude oil in 2022: $42,688,099,000

On our list of the Top 25 Oil Exporting Nations in the World for 2024, Brazil is ranked tenth. Brazil’s crude oil exports rose from 1,292.333 thousand barrels per day in December 2021 to 1,346.417 thousand barrels per day in December 2022. This increase highlights Brazil’s important contribution to the world energy markets, its economy, and its position as an oil exporter.

9. Nigeria

Exports of Crude Oil in 2022: $49,871,423,000

Nigeria’s daily crude oil exports fell from 1,592.333 thousand barrels in December 2021 to 1,388.260 thousand barrels in December 2022. Nigeria continues to play a significant role in the oil export industry despite this decline, having an effect on both its economy and the world’s energy markets. Nigeria is ranked ninth on our ranking of the world’s top oil exporting nations for 2024.

8. Kuwait

Exports of Crude Oil in 2022: $54,328,256,000

Kuwait exported 1,878.852 thousand barrels of crude oil per day in December 2022, up from 1,740.452 thousand barrels per day in December 2021. This noteworthy rise highlights Kuwait’s important position as a major oil exporter.

Top 12 Happiest Jobs Worldwide Revealed for 2024

7. Norway

Exports of crude oil in 2022: $57,757,614,000

Norway is the seventh nation on our list of the world’s oil-exporting nations in 2024. Norway’s crude oil exports decreased somewhat from 1,563.389 thousand barrels per day in December 2021 to 1,558.159 thousand barrels per day in December 2022. Norway remains a major oil exporter despite this slight decline, affecting both its economy and global energy markets.

6. Iraq
Exports of Crude Oil in 2022: $82,288,984,000

Iraq is ranked sixth on our ranking of the top 25 oil exporting nations in the world for 2024. Iraq’s daily exports of crude oil increased from 3,439.550 thousand barrels in December 2021 to 3,712.420 thousand barrels in December 2022. This noteworthy increase highlights Iraq’s important position as a major oil exporter.

5. United Arab Emirates

Crude Oil Exports: $112,723,309,000 in 2022

Crude oil exports from the United Arab Emirates increased to 2,717.117 thousand barrels per day in December 2022 from 2,304.910 thousand barrels per day in December 2021. This expansion highlights the country’s crucial role in the world’s oil markets as well as its economy, underscoring the industry’s dynamic nature and the necessity of constant adaptation to preserve its position.

4. Americas

Crude Oil Exports: $117,034,462,000 in 2022

The United States exported 3,604.000 thousand barrels of crude oil per day in December 2022, a significant rise over the 2,963.000 thousand barrels per day reported in December 2021. This increase highlights the country’s economic clout and its critical position in the world’s oil markets.

3. Russia

Crude Oil Exports: $119,530,010,000 in 2022

Russia’s daily crude oil exports increased from 4,510.455 thousand barrels in December 2021 to 4,780.354 thousand barrels in December 2022. Both Russia’s economy and world’s energy markets benefit from its status as a major oil exporter.

2. Canada

Crude Oil Exports: $120,502,814,000 in 2022

Compared to December 2021, Canada exported 3,187.798 thousand barrels of crude oil a day. Canada gains clout in the world energy markets and strengthens its position as a major oil exporter. The oil business in Canada is a major employer and source of income, contributing significantly to the country’s GDP.

1. Saudi Arabia

Exports of crude oil in 2022: $224,795,271,000

Saudi Arabia possesses 17% of the world’s proven petroleum reserves, making it a powerhouse in the energy sector. The country exported 7,363.640 thousand barrels per day in December 2022 as an OPEC member. Due to its abundant exports, Saudi Arabia will continue to be the world’s largest oil exporter in 2023. Saudi Arabia’s sizable reserves and prominent position in the world market have an impact on the oil sector.

Popular Articles

We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners. View more
Cookies settings
Accept
Privacy & Cookie policy
Privacy & Cookies policy
Cookie name Active
PRIVACY POLICY
  1. General
  • (1.1.) Eduvast (“Eduvast”, “We”, “Our”, “Us”) is committed to the protection of personal information provided by the users (“You”,“Your”,“User”) to Eduvast. You agree that Your use of Eduvast implies Your consent to the collection, retention and use of Your personal information in accordance with the terms of this Privacy Policy (“Privacy Policy”).
  • (1.2.) We take the privacy of our Users seriously. We are committed to safeguarding the privacy of Users while providing personalized and valuable service.
  • (1.3.) While We do Our best to protect Your information, particularly with respect to the protection of Your personal data, Eduvast cannot ensure the security of Your data transmitted via the internet, telephone or any other networks.
  • (1.4.) Access to the contents available  is conditional upon Your acceptance of this Privacy Policy which should be read together with the End User License Agreement“EULA”.
  • (1.5.) If You do not agree to any of the provisions of this Privacy Policy or EULA, You should not download, install and use the App. We may revise, alter, add, amend or modify this Privacy Policy at any time by updating this privacy policy. By downloading, installing and/or using this App, You agree to be bound by any such alteration, amendment, addition or modification.
2. Information Collected Non Personal Information
  • (2.1.) We may collect non-personal information about You whenever You access or interact with Our Website or any of the related services. This includes but not limited to browser name, version, server location, device specific information such as the type of device used, users’ operating system and version, your mobile devices unique device ID, third party apps or App or service that referred users to App, language preference, means of connection to App, internet service providers, IP address, technical information, google advertising ID (GAID), IDFA, GAID Opt-out Status, location information, interaction of Your device with the App and applications, details of Your device including without limitation its manufacturer details, height and width of your device screen, model, version, UDID or IMEI Number and other similar information about You(collectively "Traffic Data”). Personal Information
  • (2.2.) 2.2. We may collect personal information that identifies You in a variety of ways, including, but not limited to the information submitted during download and installation of the App or in connection with registration for other activities or features offered through the App. Personally identifiable information collected may include name, mailing address, email address, phone number and demographic information such as gender, nationality, postcode and other personal information including but not limited to date, time or place of birth ("Personal Information"). If You communicate with Us by, for example, e-mail or letter, any information provided in such communication may be collected by Eduvast.
  • (2.3.) Our website may transmit your Personal Information to our internal servers. This Personal Information is immediately deleted once you delete the App, except to the extent it is necessary to store the same under applicable laws. Further, we have implemented commercially reasonable physical, managerial, operational and technical security measures to protect the loss, misuse and alteration and to preserve the security of the Personal Information in our care.Finally, this information is used strictly in line with our business purposes.
  • (2.4.) You understand that once You leave Our servers, use of any information You provide shall be governed by the privacy policy of the operator of the site used by You.
3. Disclosure of Personal Information
    • (3.1.) We do not disclose Your Personal Information to any third parties other than as may be required by us, Eduvast’s affiliates, partners, trusted business networks, in compliance with our Privacy Policy for the purpose of moderating the content of the Website, enhancing Your user experience, providing You localised content and to enable Us and Our partners to provide You with targeted information which may be of benefit to you.
    • (3.2.) To enhance customer experience and to provide focused support, we may share generic aggregated demographic information which may include Your information collected by Us but not linked to any personally identifiable information regarding visitors and users with Our business partners, trusted affiliates and advertisers for the purposes outlined above.
    • (3.3.) At times We are required by law or litigation to disclose personal information about the users. We may also disclose information about the user if We determine that disclosure of information is necessary for national security, law enforcement, or other issues of public importance.
    • (3.4.) We use Our best efforts to use information in aggregate form (so that no individual User is identified) for the following purposes:
(3.4.1) To build up marketing profiles; (3.4.2) To aid strategic development, data collection and business analytics; (3.4.3) To manage our relationship with advertisers and partners; (3.4.4) 3.4.4. To audit usage of Our website i.e. www.www.eduvast.com (3.4.5) 3.4.5. To enhance user experience in relation to the App and Our website (collectively, “Permitted Use”).
  • (3.5.) We reserve the right to disclose Personal Information if required to do so by law or if we believe that it is necessary to do so to protect and defend the rights, property or personal safety of Eduvast, the App, or Users.
4. Cookies
  • (4.1.) Whenever You access the App We may place "cookies" on Your hard drive for record-keeping purposes to enhance Your experience or sometimes to personalize Your experience. Cookies are small text files that are placed on Your device's hard drive by the App You visit. Cookies help Us to identify information relating Your activities and to retain information relating to Your preferences and history on the App.
  • (4.2.) Ad targeting cookies: We and/or Our service providers may use advertising cookies to deliver ads that are more relevant to You and Your interests.
  • (4.3.) You may choose to disable cookies by turning off cookie feature on the web browser. However, by disabling this feature, some parts of the App may not function properly. This may prevent You from taking full advantage of the App.
5. Confidentiality
    • (5.1.) Except as otherwise provided in this Privacy Policy, We will keep Your Personal Information private and will not share it with third parties, unless We believe in good faith that disclosure of Your Personal Information or any other information We collect about You is necessary for Permitted Use or to:
(5.1.1.) Comply with a court order or other legal process; (5.1.2.) Protect the rights, property or safety of Eduvast or another party; (5.1.3.) Enforce the Agreement, including EULA; or (5.1.4.) Respond to claims that any posting or other content violates the rights of third-parties. 6. Security
  • (6.1.) The security of Your Personal Information is important to Us. We follow generally accepted industry standards to protect the Personal Information submitted to Us, both during transmission and once We receive it.
  • (6.2.) Although We make best possible efforts to store Personal Information in a secure operating environment which is not open to the public, You should understand that there is no such thing as complete security, and We do not guarantee that there will be no unintended disclosures of Your Personal Information. If We become aware that Your Personal Information has been disclosed in a manner not in accordance with this Privacy Policy, We will use reasonable efforts to notify You of the nature and extent of such disclosure (to the extent We know that information) as soon as reasonably possible and as permitted by law.
7. Updates and Changes to Privacy Policy
  • We reserve the right, at any time, to add to, change, update, or modify this Privacy Policy so please review it frequently. In all cases, use of information We collect is subject to the Privacy Policy in effect at the time such information is collected. You hereby acknowledge and agree that it is Your responsibility to review this Privacy Policy periodically and become aware of the modifications. If You disagree to any of the changes to the Privacy Policy, You shall refrain from using or accessing the App. Your continued use of the App following the posting of the revised Policy shall indicate Your acceptance and acknowledgment of the changes and You will be bound by it.
8. Updates and Changes to Your Personal Information
  • You have a right to correct any errors in Your Personal Information available with Us. You may request Us in writing that We cease to use Your Personal Information.
9. Contact Us
  • You may write to us at [email protected] for any privacy concerns and requests relating to this EULA and Privacy Policy.
Save settings
Cookies settings