Visualizing Global Oil Trade Flows in 2024 🛢️

Key Takeaways

• China imported 11.1 million barrels of crude oil per day in 2024, with Russia standing as its largest supplier of oil.
• Meanwhile, the U.S. imported 6.6 million barrels per day (mb/d), with Canada accounting for 62% of the total.
• About 25% of Europe's crude oil imports were from Africa, while the U.S. made up another 21% in 2024.

A Closer Look at Oil Trade Flows

In 2024, China and India were the largest buyers of Russian crude oil, resulting in 81% of Russia's oil imports.

While Europe has been cutting its imports of Russian oil given the war in Ukraine, it stood as the third-largest importer, at 12% of Russia's exports.

At the same time, China and India are among the top importers of oil from the Middle East, particularly from Saudi Arabia and the UAE.