Premium statistics

Industry-specific and extensively researched technical data (partially from exclusive partnerships).

A paid subscription is required for full access.

Transport volume of crude oil in seaborne trade 2010-2017

Transport volume of crude oil in global seaborne trade from 2010 to 2017 (in million metric tons)

by I. Wagner, last edited Jul 22, 2019
Transport volume of crude oil in seaborne trade 2010-2017 The statistic depicts the volume of crude oil that is imported or exported by seaborne transportation from 2010 through 2017. Globally, some two billion metric tons of crude oil was transported via waterways in 2017.
Seaborne oil trade

Oil is the fuel that keeps the global economy running. Worldwide production of crude oil rose from a little over 63 million barrels per day in 1988 to about 92.6 million barrels daily in 2017. Crude oil prices increased dramatically over this period. The spot price of West Texas Intermediate (WTI) jumped from around 14 U.S. dollars per barrel in 1988 to almost 100 U.S. dollars per barrel in 2018, when there was virtually no spread between WTI and UK Brent. In 2017, the spot price of a barrel of WTI stood at about 43 U.S. dollars.

While accounting for less than 10 percent of global oil production, the Asia-Pacific region is the largest consumer of oil; over a third of worldwide oil consumption is concentrated here. Consequently, main petroleum source countries such as Venezuela are beginning to look to Asian markets in order to offset the sharp decline in oil exports to the United States. U.S. petroleum net imports plunged from 12.6 million barrels a day in 2005 to 3.7 million barrels daily in 2017.

Where pipeline infrastructure between trading partners is limited, large oil volumes have to be transported by land or sea. The key passages for seaborne oil trade include the routes from Panama to China, from the Strait of Hormuz to Japan and from West Africa to India. Globally, around 1.93 billion metric tons of crude oil were unloaded from ships in 2016, slightly up from around 1.86 billion metric tons in 2015. The increase in seaborne oil trade is expected to translate into positive revenue growth for tanker builders such as General Dynamics-owned NASSCO. In 2016, crude oil tankers were the third most important vessel type in the global merchant fleet.
Show more

Transport volume of crude oil in global seaborne trade from 2010 to 2017 (in million metric tons)

Statista Accounts: Access All Statistics. Starting from $588 / Year
Basic Account
Get to know the platform

You only have access to basic statistics.
This statistic is not included in your account!

Premium Account
Your perfect start with Statista
  • Instant access to 1m statistics
  • Download in XLS, PDF & PNG format
  • Detailed references

$49 / Month *

Corporate Account
Full access

Corporate solution including all features.

* All products require an annual contract.
   Prices do not include sales tax.
Leading companies trust Statista:
Related Studies: Available to Download in PDF or PPTX Format
Global oil industry and market
Global oil industry and market

All Information
in one Presentation

Global oil industry and market

Everything On "Global oil industry and market" in One Document: Edited and Divided into Handy Chapters. Including Detailed References.

Statista has been my savior on several occasions. The site is easy to maneuver and the data is in a format that can go right into a report or presentation.
Marlene Greenfield

Marlene Greenfield
Vice President, Hearst Magazines

Statistics on "Global oil industry and market"
  • Reserves and production
  • Leading companies
  • Refinery
  • Trade
  • Prices
  • Consumption
  • Outlook
Discover Statista
Need help with using Statista for your research? Tutorials and first steps
Further Content: Statistics, Studies, and Topic Pages
Learn more about how Statista can support your business.
Do you have any questions about our business solutions?

We provide you with detailed information about our Corporate Account.