March 26, 2024
1. Saudi Arabia

This Middle Eastern oil powerhouse was the world's top oil exporter in 2022 with $236 billion in oil exports. That represents 16.2% of global oil exports.

2. Russia

Russia takes the second spot, accounting for 9.14% of global exports in 2022. This amounted to $133 billion.1 Production reached an annual average of 10.13 million barrels per day, produced by major names like Rosneft, Surgutneftegas, and Gazprom. This accounts for 10% of global oil production.2

4. United States

The United States exported $118 billion worth of oil in 2022, comprising 8.16% of global exports.1 The country significantly increased its oil output between 2011 and 2020. In 2022, the U.S. produced 20.30 million barrels of oil per day, about 21% of the global total, making it the world's largest oil producer.

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