Exporters of Oil

Exporters of Oil

Exporting oil is a great financial resource for most countries. If a country makes more money than they use they can sell it to other countries at a high profit as it is such a desirable product. As oil is often found beneath the sea, there can be controversy as to who the oil belongs to. There is also sometimes conflict between countries over the subject of oil.

The countries exporting the most barrels of oil per day:

1. Saudi Arabia
2. Russia
3. United Arab Emirates
4. Iran
5. Kuwait

6. Nigeria
7. European Union
8. Venezuela
9. Norway
10. Canada

The countries highlighted in blue on the map produce more oil than they need which puts them in a good position to export oil to other countries.

Importers of Oil

Although the US produces the 3rd largest number of barrels of oil per day, they also consume the most barrels of oil per day. Therefore the majority of the fuel they produce they use for themselves and do not trade. As they are the biggest consumer of oil they also import a great deal of oil. Countries only import oil if they use more oil than they produce themselves.

The countries importing the most barrels of fuel per day:

1. United States
2. European Union
3. Japan
4. China
5. South Korea

6. India
7. Germany
8. Netherlands
9. France
10. Italy

The countries highlighted in red on the map above import tho most amount of oil. Some of these countries do produce their own oil, but need to import some more to cover their needs.