Oil exporters worldwide by region in 2018

As a region, the Middle East is the largest exporter of oil in the world at approximately 16.09 million barrels per day in 2018. The Asia-Pacific region exports the second most oil, though roughly half as much as the Middle East.

High production in the Middle East

Approximately one-third of global oil production comes from the Middle East. Saudi Arabia alone accounts for more than ten percent, with Iran, Iraq, and the United Arab Emirates, each holding between four and five percent shares of global crude oil production. Many Middle Eastern countries belong to OPEC, which holds significant influence by setting oil prices as a unit. Founded in Iraq in 1960, OPEC stands for the Organization of Petroleum Exporting Countries, and today includes 14 member nations.

Russia leads for exports

Russia is the leading exporting country at around 9.16 million barrels per day. The majority of Russia’s oil exports in recent years have been crude oil, but Russia also exports oil products. A large share of the European Union’s petroleum imports comes from Russia, with over a third in 2010. This share has been gradually declining, and Russian petroleum oil accounted for just under a third of total EU imports in 2018.