Recently, there have been quite large changes on the world markets from the point of view of exports/imports of crude oil and petroleum products. This situation is undoubtedly influenced by the Russian-Ukrainian conflict, which changed the flows of exports and imports of this raw material.

According to the Market Intelligence GTAS Forecasting, Saudi Arabia is the main oil exporter followed by the United Arab Emirates, Canada, Iraq, United States, Russia, Mexico, Norway, Kuwait and Nigeria.

The total share of these countries in world exports (in nominal terms) was 71.4% in 2022 and it is forecast to decrease to 71.1% by 2025.

Source: Seeking Alpha