In 2023, Russia led as the top exporter of crude petroleum oils and oils obtained from bituminous minerals, with exports valued at 73.68 billion USD. Iraq followed with 43.62 billion USD, and Canada at 39.52 billion USD. The United Arab Emirates ranked fourth with 33.0 billion USD, closely followed by Norway at 22.83 billion USD. Collectively, these countries show a robust capacity in exporting petroleum. From a five-year perspective, this sector has maintained steady growth, exemplified by a consistent compound annual growth rate (CAGR).
Looking ahead, shifts in global energy policies, investment in renewable energies, and geopolitical developments will be critical to monitor. Countries may adjust exports accordingly, impacting market dynamics. Additionally, technological advancements and economic shifts could influence future productivity and trade.
Top countries in Top Exporters of Crude Petroleum Oils and Oils Obtained From Bituminous Minerals
| # | 10 Countries | Million US Dollars | Last Year | |
|---|---|---|---|---|
| 1 | 1 Russia | 73,680 | 2016 | |
| 2 | 2 Iraq | 43,620 | 2016 | |
| 3 | 3 Canada | 39,520 | 2016 | |
| 4 | 4 United Arab Emirates | 33,000 | 2016 | |
| 5 | 5 Norway | 22,830 | 2016 | |
| 6 | 6 Kazakhstan | 19,380 | 2016 | |
| 7 | 7 Mexico | 15,500 | 2016 | |
| 8 | 8 United Kingdom | 13,190 | 2016 | |
| 9 | 9 Oman | 12,870 | 2016 | |
| 10 | 10 Algeria | 11,330 | 2016 |
