Top 5 Oil Exporting Countries in the World in 2024

This article discusses the Top 5 Oil Exporting Countries in the World in 2024. If you want to get detailed analysis on the oil sector and other Top Oil Exporting Countries in the World in 2024, you can head on to Top 25 Oil Exporting Countries in the World in 2024.

5. United Arab Emirates

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

In December 2022, the United Arab Emirates reported an increase in crude oil exports to 2,717.117 thousand barrels per day from 2,304.910 thousand barrels per day in December 2021. This growth underscores the nation’s vital role in global oil markets and its economy, highlighting the industry’s dynamic nature and the need for ongoing adaptation to maintain its position.

4. United States

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

In December 2022, the United States observed a surge in its crude oil exports to 3,604.000 thousand barrels per day, marking a notable increase from the 2,963.000 thousand barrels per day recorded in December 2021. This escalation underscores the nation’s pivotal standing in global oil markets and its economic influence.

3. Russia

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

In December 2022, Russia’s crude oil exports rose to 4,780.354 thousand barrels per day from 4,510.455 thousand barrels per day in December 2021. This surge highlights Russia’s prominence as a major oil exporter, playing a significant role in global energy markets and its economy.

2. Canada

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

In December 2022, Canada’s crude oil exports surged to 3,350.200 thousand barrels per day from 3,187.798 thousand barrels per day in December 2021. This increase solidifies Canada’s stature as a substantial oil exporter, exerting considerable influence in global energy markets and bolstering its economy. Canada’s oil industry serves as a crucial economic driver, generating significant revenue and employment opportunities.

1. Saudi Arabia

Crude Oil Exports in 2022: $224,795,271,000

Saudi Arabia stands as an energy superpower, boasting 17% of the world’s proven petroleum reserves. As a member of OPEC, the nation exported 7,363.640 thousand barrels per day in December 2022. This prolific export activity has secured Saudi Arabia’s position as the top oil exporting country in 2023. With its significant reserves and leading role in global energy markets, Saudi Arabia continues to wield substantial influence in shaping the trajectory of the oil industry worldwide.

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