Oil is no doubt the biggest natural blessing for countries because it is in some way the backbone of country’s development. The whole infrastructure is based upon the oil as it is a necessity for daily routine tasks. Transportation, industrial machines, automobiles, power plants and all other mechanical works are largely dependent on it. It is the biggest blessing of nature which has the ability to boost up the economy of any country so as to contributing massively towards the nation’s development. Of course no one in this world would deny the importance and impact of oil as it can take country’s economy sky high within a matter of some duration. Undoubtedly, there isn’t even a single country in the world which has no fuel consumption. The international trading is based upon imports and exports which are only be possible by the use of oil in transportation.
Saudi Arabia is not only the world’s biggest exporter of oil but also one of its largest producers which is the dominant force in OPEC that significantly affects the global energy markets by curbing or increasing production. Competition from countries exporting crude oil can also affect Saudi Arabia’s share in global markets but Saudi Arabia aims to maintain its crude oil market share and kept its oil export levels highest in the world. It has daily exports of refined and rich oil of about 7.6 millions barrels.
Numerous countries are also overtaking the other ones in terms of oil production and exporting process. One of them is the Russian Federation which is now tagged as one of world’s largest oil exporter with total contribution in world’s production is about 12.65 percent. Its oil production stands at about 10,730,000 BB/day, exported more than 5.01 million barrels per day (b/d) of crude oil and lease condensate in 2014, based on data from the Federal Customs Service of Russia. Its economy largely depends on energy exports: oil and natural gas revenues accounted for 68% of total export value in 2013. Listed below ten largest oil exporting countries which export most oil to the world.
| Ranking | Country | Oil Export Rate (BB/day) |
|---|---|---|
| 1 | Saudi Arabia | 7,635,000 |
| 2 | Russia | 5,010,000 |
| 3 | Iran | 2,523,000 |
| 4 | United Arab Emirates | 2,395,000 |
| 5 | Norway | 2,184,000 |
| 6 | Iraq | 2,170,000 |
| 7 | Kuwait | 2,127,000 |
| 8 | Nigeria | 2,102,000 |
| 9 | Canada | 1,929,000 |
| 10 | United States | 1,920,000 |
From various sources, it is confirmed that Saudi Arabia is the largest oil exporter in the world. Back in 2009, their total exports reduced to much extent but that didn’t affect their progress as they continued to be more dominant in oil exporting in the whole world and now the largest percentage of total world’s oil export is from Saudi Arabia which is a big plus for the Holy country.
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