Kuwait ranks seventh in crude oil exporting countries

Kuwait ranks seventh in crude oil exporting countries

KUWAIT CITY, April 13: Crude oil is indeed a cornerstone of the global economy, serving as a vital raw material for various industries, reports Al- Anba daily. Following is the list of top oil exporting countries and their significant contributions to the global oil trade: Saudi Arabia — Reigning at the top of the list, …KUWAIT CITY, April 13: Crude oil is indeed a cornerstone of the global economy, serving as a vital raw material for various industries, reports Al- Anba daily. Following is the list of top oil exporting countries and their significant contributions to the global oil trade: Saudi Arabia — Reigning at the top of the list, Saudi Arabia exported $236 billion worth of oil in 2022, comprising 16.2% of global oil exports. With vast reserves and substantial production capabilities, Saudi Arabia plays a pivotal role in global oil markets. Russia — Following closely, Russia accounted for 9.14% of global oil exports in 2022, with a value of $133 billion. Russia’s expansive oil industry, led by major players like Rosneft and Gazprom, contributes significantly to its export prowess. Canada — Canada emerges as the third-largest oil exporter, with exports totaling $123 billion in 2022, constituting 8.48% of