Crude oil: Movement

Who ships the world's crude, and who buys it

Who ships the world's crude, and who buys it What this tab covers How it flows between countries: the largest bilateral trade routes drawn on a world map, 2024 UN Comtrade export and import values with the top exporters and importers by share, plus shipping routes, chokepoints and trade restrictions.

Crude oil (HS 2709) exports were worth $954 billion in 2024. Saudi Arabia shipped 19% of the value, the United States 12%, Canada 11% and Iraq 10%. China took 25% of imports, the United States 13% and India 11%. Russia, a leading exporter, does not appear, apparently because it no longer reports detailed trade, so other shares are inflated. Refined products (HS 2710) form a second $775 billion trade led by the US, India and the Dutch hub. Much seaborne oil passes chokepoints: Hormuz, Malacca and the Suez and Bab el-Mandeb route. Sanctions have built a parallel 'shadow' tanker fleet.

Main trade routes, 2024

Chart: World map of the largest trade flows

Exporter (size = share of world exports) Importer (share of world imports) Largest bilateral flows (width = value) Shipping chokepoint UN Comtrade 2024, reported exports by the top four exporters of each traded form to their partners (US$). Bubbles: shares of reported world exports and imports for the main traded form. Hover a line or circle for values.

Crude oil · HS 2709

World exports 2024 $953.6 bn sum of 40 reporting countries World imports 2024 $1.30 tn sum of 40 reporting countries Top exporters, share of value Saudi Arabia 18.8% United States 12.4% Canada 11.3% Iraq 10% Norway 5.2% Brazil 4.7% Top importers, share of value China 24.9% United States 13.4% India 10.8% South Korea 6.5% Japan 5.5% Netherlands 3.8%

Refined petroleum products · HS 2710

World exports 2024 $774.6 bn sum of 40 reporting countries World imports 2024 $669.5 bn sum of 40 reporting countries Top exporters, share of value United States 15.2% India 8.9% Netherlands 7.7% Singapore 7% South Korea 6.4% China 5.4% Top importers, share of value United States 8.8% Singapore 7.9% France 5.3% Australia 4.9% Netherlands 4.7% Mexico 4.6% UN Comtrade, reporter declarations to the world, US$. Exports and imports are reported separately, so totals differ. Re-exporting hubs (Netherlands, Singapore, Switzerland, UAE) can appear large.