In 2024, global exports of refined petroleum fell by 10.3% to $890 billion.
Still, it remains a significant part of the global economy.
Using data from the Observatory of Economic Complexity (OEC), last updated in 2024, this graphic shows the world’s largest exporters of refined petroleum.
TL;DR
- The United States leads refined petroleum exports, accounting for $115 billion, followed by India and Singapore.
- Asia and the Middle East are expected to gain export shares through capacity expansions, adding over 2.5 million barrels per day (mb/d) by 2030.
- Diesel and gasoline currently dominate exports, but petrochemical feedstocks, such as naphtha and LPG, are fueling growth.
Top 50 Exporters of Refined Petroleum by Country
| wdt_ID | wdt_created_by | wdt_created_at | wdt_last_edited_by | wdt_last_edited_at | Continent | Country | Exports Value ($B) |
|---|---|---|---|---|---|---|---|
| 1 | Monica Ebunoluwa | 12/06/2026 10:38 AM | Monica Ebunoluwa | 12/06/2026 10:38 AM | North America | United States | 114.98 |
| 2 | Monica Ebunoluwa | 12/06/2026 10:38 AM | Monica Ebunoluwa | 12/06/2026 10:38 AM | Asia | India | 65.39 |
| 3 | Monica Ebunoluwa | 12/06/2026 10:38 AM | Monica Ebunoluwa | 12/06/2026 10:38 AM | Asia | Singapore | 56.07 |
| 4 | Monica Ebunoluwa | 12/06/2026 10:38 AM | Monica Ebunoluwa | 12/06/2026 10:38 AM | Asia | South Korea | 51.32 |
| 5 | Monica Ebunoluwa | 12/06/2026 10:38 AM | Monica Ebunoluwa | 12/06/2026 10:38 AM | Europe | Netherlands | 50.12 |
| 6 | Monica Ebunoluwa | 12/06/2026 10:38 AM | Monica Ebunoluwa | 12/06/2026 10:38 AM | Asia | United Arab Emirates | 46.23 |
| 7 | Monica Ebunoluwa | 12/06/2026 10:38 AM | Monica Ebunoluwa | 12/06/2026 10:38 AM | Europe | Russia | 45.87 |
| 8 | Monica Ebunoluwa | 12/06/2026 10:38 AM | Monica Ebunoluwa | 12/06/2026 10:38 AM | Europe | Belgium | 33.46 |
| 9 | Monica Ebunoluwa | 12/06/2026 10:38 AM | Monica Ebunoluwa | 12/06/2026 10:38 AM | Asia | China | 32.63 |
| 10 | Monica Ebunoluwa | 12/06/2026 10:38 AM | Monica Ebunoluwa | 12/06/2026 10:38 AM | Asia | Malaysia | 31.62 |
Crude oil is an unprocessed mixture of hydrocarbons extracted from underground reservoirs and contains organic compounds that require purification.
Refined petroleum products are produced through distillation and refining, separating crude oil into fractions such as gasoline, diesel, jet fuel, and lubricants, each suited to specific uses and with improved purity.
Who are the Top Exporters and Why?
The U.S. is the world’s top exporter of refined petroleum, accounting for $115 billion in 2024, or 12.9% of global exports.
The U.S. leads due to its substantial refining capacity of approximately 18 million barrels per day, with major plants such as the Port Arthur Refinery, which processes domestic shale oil for export.
India ranks second, at $65.39 billion (7.3%), mainly due to its large number of refineries.
ELI5
Refined petroleum, such as gasoline and diesel for cars, is essentially oil that has been cleaned and refined into a usable fuel.
The U.S. is the top seller, worth approximately $115 billion in 2024, followed by India and Singapore, owing to their large manufacturing bases and favorable shipping locations.
The primary refined petroleum products sold are diesel and gasoline, as they’re used in trucks, cars, and planes.
However, chemicals like naphtha and LPG are increasingly used as we switch to less regular gas.
By 2030, Asia and the Middle East are expected to increase their refining capacity by building larger refineries and adding over 2.5 million barrels per day, while Europe may reduce its refined product exports as it shuts down old refineries.
Sources:
WorldStopExports | Sterlingtt | OPEC | World Bank | IEA | IEA BLOB | OEC