oil export
Crude sold abroad
Oil export is the sale and shipment of petroleum products to foreign countries.
Nations with large oil reserves—Saudi Arabia, Russia, Venezuela—depend heavily on oil exports for revenue.
The term appears in discussions of trade policy, energy independence, and geopolitics: Oil exports account for 90% of the country's foreign earnings.
Countries may impose oil export bans during shortages or as diplomatic leverage.
- trade balanceExport-import surplus or deficit
- carbon emissionsReleased greenhouse gases
- fossil fuelsCombustible prehistoric organic deposits
- embargoesRestrictions on international commerce
- strategic reservesAssets saved for emergencies
supply chain · global markets · petrodollars · taxation policies · economic sanctions · OPEC · trade wars · energy security · international treaties · ecological degradation · storage facilities · trade tariffs · offshore platforms · black gold · tankers · environmental regulations · environmental treaties · energy independence
- oil industrypetroleum, crude, drilling, drilling rig, refineries
- Nordic Tradetimber trade, iron ore, fur trade, fishing industry, whaling