Which country sells the most oil?
Sarah Garza
Updated on February 16, 2026
Searchable List of Crude Oil Exporting Countries in 2020
| Rank | Exporter | Crude Oil Exports (US$) |
|---|---|---|
| 1. | Saudi Arabia | $113,748,793,842 |
| 2. | Russia | $72,564,294,000 |
| 3. | Iraq | $50,828,799,000 |
| 4. | United States | $50,285,962,000 |
What world region exports the most oil?
the Middle East
As a region, the Middle East is the largest exporter of oil in the world, at approximately 14 million barrels per day in 2020. The Asia-Pacific region exported the second largest amount of oil, though roughly half as much as the Middle East.
Is the US buying oil from China?
China bought an average about 568,500 tons, or 4.2 million barrels, of U.S. oil a month in May and June, General Administration of China Customs data show. The country imported no American oil for the previous five months as relations between the two countries deteriorated amid the coronavirus.
Who is the richest oil company in the world?
PetroChina and Sinopec Group lead the list of the world’s biggest oil and gas companies of 2020 with revenues between $270 billion and $280 billion, ahead of Saudi Aramco and BP.
Is the world’s oil running out?
“The world will run out of oil in 2030, and other fossil fuels in 2050.”…Click for text description of Figure 1.6.
| Energy Source | Potential Production (billion barrels) | Production Cost ($ per barrel) |
|---|---|---|
| Oil Shales | 16000-18000 | 30-90 |
Who produces the most oil in the US?
Texas
Texas is the largest producer of crude oil in the United States. In 2019, Texas produced 5,070,450 barrels per day….Here are the 10 states with the highest oil production:
- New Mexico (379,226)
- Colorado (165,093)
- Alaska (163,852)
- California (144,349)
- Wyoming (89,002)
- Kansas (37,907)
- Louisiana (34,861)
- Utah (31,760)
Why is China buying oil?
China’s oil purchases from Venezuela, where the U.S. has been trying to use sanctions to pressure the Maduro regime into holding credible democratic elections, also are growing, according to London financial data provider Refinitiv. Rising oil shipments to China, Iranian and Venezuelan officials said, followed Mr.
