Transport volume of crude oil in global seaborne trade from 2010 to 2016 (in million metric tons)

Transport volume of crude oil in seaborne trade 2010-2016 The statistic depicts the volume of crude oil that is imported or exported by seaborne transportation from 2010 through 2016. Globally, some 1.8 billion metric tons of crude oil was transported via waterways in 2014.
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 86.8 million barrels daily in 2013. 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 about 79 U.S. dollars per barrel in 2010, when there was virtually no spread between WTI and UK Brent. In 2016, 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 4.87 million barrels daily in 2016.

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, just under 1.9 billion metric tons of crude oil were unloaded from ships in 2012, slightly up from around 1.8 billion metric tons in 2011. At the same time, the number of metric ton-miles of oil traveled grew by almost 10 percent to reach a staggering 7.8 trillion in 2012. 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
Loading statistic...
Transport volume in million metric tons
20101,867
20111,857
20121,906
20131,836
20141,806
20151,860
20161,930
Transport volume in million metric tons
20101,867
20111,857
20121,906
20131,836
20141,806
20151,860
20161,930

© Statista 2017

Download Settings Share
Chart type
Datalabels
Share on Social Media
HTML code to embed chart as PNG (FAQ)
Download started
Please be patient - this may take a moment
Description Source More information
The statistic depicts the volume of crude oil that is imported or exported by seaborne transportation from 2010 through 2016. Globally, some 1.8 billion metric tons of crude oil was transported via waterways in 2014.
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 86.8 million barrels daily in 2013. 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 about 79 U.S. dollars per barrel in 2010, when there was virtually no spread between WTI and UK Brent. In 2016, 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 4.87 million barrels daily in 2016.

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, just under 1.9 billion metric tons of crude oil were unloaded from ships in 2012, slightly up from around 1.8 billion metric tons in 2011. At the same time, the number of metric ton-miles of oil traveled grew by almost 10 percent to reach a staggering 7.8 trillion in 2012. 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
Release date
2017
Region
World
Survey time period
2010 to 2016
Supplementary notes
The figures for 2010 and 2011 are taken from previous editions; the 2016 value is preliminary.

Statista Accounts: Access All Statistics. Starting from $588 / Year

Statistics on "Global oil industry and market"

  • Reserves and production
The most important statistics
  • Leading companies
  • Refinery
  • Trade
  • Prices
  • Consumption
The most important statistics
  • Outlook

Related Studies: Available to Download in PDF or PPTX Format

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 for Your Company: The Research and Analysis Tool

  • Product Film
  • Statistics
  • Downloads

Our Premium Statistics - facts for your business

Currently, Statista provides more than 1 million statistics.
93 percent (all Premium content) are exclusively accessible via our professional accounts.

Unlimited access

As a Statista Premium customer, you receive unlimited access to all statistics at all times. Including downloads of data in the most common formats (XLS, PDF & PNG). Create relevant and significant statistics in no time.

You are in good company

Further Content: Statistics, Studies, and Topic Pages

Our Business Solutions: Save Time and Money

only

$588*

per year
Your advantages
  • Full access to all our statistics
  • Download as XLS, PDF & PNG
  • Relevant data: complete source information
All functions of our platform illustrated face-to-face
  • Learn how Statista supports your company
  • Extensive tour across the whole portal
  • Personal guidance by our support team
The knowledge database for your company
  • All functions of the Premium Account
  • Access to dossiers, forecasts and studies
  • Access to our international database
  • Publishing rights and other exclusive functions

Statistics on the topic

Topics

About Statista

Learn more about how Statista can support your business.

Request webinar