Global trade in crude oil grew by 3.7% or 1.5 Mb/d, reaching 42.4 Mb/d; growth in refined products was even more rapid (in % terms, +4.3% or +950 Kb/d), reaching 23.0 Mb/d
A large increase in Middle East production and a significant shift in the US supply-demand balance drove strong growth in global oil trade in 2016 (+2.5 Mb/d or +3.9%, to reach 65.4 Mb/d). This was a second consecutive above average year (following growth of 3.7 Mb/d in 2015) and more than double the 10-year average growth rate of 1.7% (1 Mb/d).
Oil major trade movements 2016 - trade flows worldwide (million tonnes)
The data and map illustrate the flow of crude oil and products between sources of production and the regions of consumption.
The tables exclude the intra-area movements of oil (for example, crude oil and products moving between countries within Europe). Bunkers are not included as exports. Crude imports and exports include condensates. The oil inter-area movements table now breaks out Iraq, Kuwait, Saudi Arabia and United Arab Emirates exports. Saudi Arabian exports from 1980 are also available in the oil trade movements table in the Excel workbook. The split of crude oil and products are also shown. Data in the tables are in million tonnes and thousand barrels per day.