Overview This page contains the latest trade data of Petroleum oils, oils from bituminous minerals, crude. In 2021, Petroleum oils, oils from bituminous minerals, crude were the world's 1st most traded product, with a total trade of $951B. Between 2020 and 2021 the exports of Petroleum oils, oils from bituminous minerals, crude grew by 47.4%, from $646B to $951B. Trade in Petroleum oils, oils from bituminous minerals, crude represent 4.52% of total world trade.
Petroleum oils, oils from bituminous minerals, crude are a part of Crude Petroleum.
Exports In 2021 the top exporters of Petroleum oils, oils from bituminous minerals, crude were Saudi Arabia ($138B), Russia ($113B), Canada ($81.2B), Iraq ($72B), and United States ($67.6B).
Imports In 2021 the top importers of Petroleum oils, oils from bituminous minerals, crude were China ($208B), United States ($120B), India ($93.5B), South Korea ($60.6B), and Japan ($54.9B).
Tariffs In 2018 the average tariff for Petroleum oils, oils from bituminous minerals, crude was 1.84%, making it the 6301st lowest tariff using the HS6 product classification.
Ranking Petroleum oils, oils from bituminous minerals, crude ranks 4608th in the Product Complexity Index (PCI).
Description Petroleum oils are used to create plastics, make machinery work, make cosmetics, etc. Oils from bituminous minerals are used in making paint, making building materials, etc. Crude is used for making gasoline, fuel, making plastics, etc.