![]() Rank Exporter Refined Oil Exports (US$) 2020-1 1. The 100 key oil shippers in the automated database below were responsible for 99.8% of the overall value of exported refined petroleum oils during 2021. Searchable List of Refined Oil Exporting Countries in 2021 The above corporations are presented in the same order as they appeared in the Forbes listing. Refined Oil Exporting CompaniesĪccording to Forbes Global 2000 rankings, the following oil and gas companies are among the top 40 largest companies in the world. In turn, this negative cashflow highlights Mexico ‘s strong competitive disadvantage for this specific product category but also signals opportunities for refined oil-supplying countries that help satisfy the powerful demand among consumers and businesses. Mexico incurred the highest deficit in the international trade of processed petroleum oils. Mexico: -US$21.6 billion (net export deficit up 36.1% since 2020).Thus, the statistics below present the deficit between the value of each country’s refined oil import purchases and its exports for that same commodity. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. ![]() The following countries posted the highest negative net exports for refined petroleum oils during 2021. Countries Causing Worst Trade Deficits from Refined Oil ![]() In turn, this positive cashflow confirms Russia’s strong competitive advantage for this specific product category. The Russian Federation generated the highest surplus in the international trade of refined oil. Qatar: $9.9 billion (reversing a -$89.7 million deficit).mainland China: $14.9 billion (up 8.8%).United States of America: $20.8 billion (down -2.5%).United Arab Emirates: $29.9 billion (down -4.6%).Russia: US$68.6 billion (net export surplus up 54.8% since 2020).Thus, the statistics below present the surplus between the value of each country’s refined oil exports and its import purchases for that same commodity. The following countries posted the highest positive net exports for refined petroleum oils during 2021. Countries Generating Largest Trade Surpluses from Refined Oil The United Arab Emirates was the main supplier to post a decline in its exported refined oil sales (down -20.9%). United Arab Emirates: $37.6 billion (5.3%)īy value, the listed 15 countries shipped 75.1% of global refined oil exported in 2021.Īmong the top exporters, the fastest-growing refined oil exporters since 2020 were: India (up 106.4%), Italy (up 78.5%), Greece (up 73.8%) and Belgium (up 72.2%).United States: US$84.9 billion (12.1% of refined oil exports).That category excludes crude oil.īelow are the 15 countries that exported the highest dollar value worth of refined oil during 2021. Smaller percentages came from Africa (2.6%), Latin America (2.2%) excluding Mexico but including the Caribbean, then Oceania (0.4%) led by Australia and Papua New Guinea.įor research purposes, the 4-digit Harmonized Tariff System code prefix is 2710 for refined petroleum oils. In second place were European exporters at 39.1% while another 14.2% of refined oil shipments originated from North America. Collectively, that powerful cohort of processed fuel exporters accounted for 42.9% of all globally exported refined petroleum oils by value.Īmong continents, shippers in Asia delivered the highest dollar worth of refined oil exports during 2021 with shipments valued at $292.2 billion or 41.5% of the global total. The 5 biggest exporters of processed petroleum oils in 2021 were the United States of America, Russia, India, Netherlands and Singapore. Year over year, the value of global refined oil exports accelerated by 46.7% from $479.9 billion during 2020. The overall value of exported refined petroleum oils expanded by an average 8.4% for all exporting countries since 2017 when refined oil shipments were valued at $649.7 billion. Texan Oil RefineryGlobal sales for exports of refined petroleum oils from all countries totaled US$704 billion in 2021.
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