Biggest oil exporter countries9/12/2023 ![]() ![]() As a result of its potential and its development, Brazil's crude oil production has increased. BrazilĬrude Oil Exports (barrels per day) as of 2015: 736,600īrazil has an estimated 12.7 billion barrels of proved oil reserves as of January 2021 and the country has over the past few decades developed more of its potential, especially offshore. As of December 2021, the country is still a substantial exporter, with exports of 442,167 barrels of crude oil per day according to CEIC Data. According to the Oil & Gas Journal, Colombia has 1.8 billion barrels of crude oil reserves as of January 2022. ColombiaĬrude Oil Exports (barrels per day) as of 2015: 726,700Ĭolombia exported 726,700 barrels per day of crude oil in 2015, making it one of the larger South American exporters of crude oil for the year. In terms of more recent data, the International Monetary Fund estimates the country exported 557,991 barrels of crude oil per day as of April 27 2022. AzerbaijanĬrude Oil Exports (barrels per day) as of 2015: 718,800Īzerbaijan is a former Soviet republic that borders the Caspian Sea that ranks #19 on our list of Top 20 Oil Exporting Countries in 2023 given crude oil exports of 718,800 as of 2015. In 2021, the country imported £17.6 billion crude oil and exported £17.9 billion crude oil in the same year. Given its huge economy, the United Kingdom also imports crude oil which isn't factored into the CIA data on this list. Much of the country's exports is from offshore fields in the North Sea and the exports have helped the country's economy over the past few decades. The United Kingdom is a crude oil exporter with exports of 710,600 barrels per day as of 2017. United KingdomĬrude Oil Exports (barrels per day) as of 2017: 710,600 The following is for exports and not net exports. Some countries like Russia might not export as much oil given the Russian Ukraine war. We assume that the top exporting countries in 2023 will be similar but not the same on an absolute scale. Much of the data from the CIA is from 2015 so there could be some changes in terms of absolute production. Some countries like Canada both import and export crude oil given some of the country's oil fields produce crude oil that its refineries isn't best suited for. As a result, the data is not net crude oil exports. ![]() It is important to note that the data does not take into account crude oil imports. With the money raised from oil exports, countries can develop their infrastructure more or increase spending on education which could further increase economic growth in the future.įor our list of Top 20 Oil Exporting Countries in 2023, we used the CIA World Factbook (2021 Archive) for crude oil exports. Net oil exports can help a country that exports oil develop economically. OPEC describes itself, "OPEC's objective is to co-ordinate and unify petroleum policies among Member Countries, in order to secure fair and stable prices for petroleum producers an efficient, economic and regular supply of petroleum to consuming nations and a fair return on capital to those investing in the industry." According to OPEC in 2021, the country's members had over 80% of the world's proven crude oil reserves. OPEC+ is OPEC countries in addition to countries like Russia which is a major oil producer. In order to prevent oversupply, some oil producing countries in OPEC+ also limit their production. Each of those steps can cost many millions or even billions of dollars depending on the scale of the project.įor exporting oil over land, a country will still need to develop an oil field and build pipelines or railways to their destinations. In order to export oil to overseas locations, a country will need to develop an oil field, build a pipeline or railway to export oil to a seaport, and build the seaport. It can take a lot of capital investment and multiple years for a country to develop their crude oil reserves to bring to the market. For those of you interested, check out Top 20 Oil Producing Countries in 2022. ![]() ![]() Given they have larger reserves of crude oil, some countries produce more crude oil than other countries do. In this article, oil means crude oil.Ĭrude oil is essential for a modern economy as it helps power internal combustion vehicles and helps produce plastics that consumers use every day. When it comes to energy, oil is often used to mean crude oil. If you want to see more top oil exporting countries in 2023, go directly to Top 5 Oil Exporting Countries in 2023. In this article, we take a look at the top 20 oil exporting countries in 2023. ![]()
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