Source: U.S. Energy Information Administration
Oil production generally correlates with oil exports, but that is not always the case. While the U.S. is the third largest producer of oil, it does land a spot in the top 10 global oil exporters. Global trends indicate a continued Middle East domination of oil production but growing oil markets in North America, Asia, and Eurasia.
Oil consumption centers on the world's highest populated areas and largest economies. However, American consumption of oil has decreased as energy alternatives and efficiency have increased. As populations in Asia and the Middle East continue to rise, their oil consumption and imports will follow, indicating a shift in the direction of global oil flows.
Recent trends and projections show important changes in oil imports — mainly the decrease in U.S. oil imports and the steep import hike in Asian markets. Among the factors that cause shifts in nations' oil imports are economic changes, growing populations, increased oil efficiency and the rise of fuel alternatives.
Oil exports show how much an oil-producing nation is contributing to the global oil trade. The greater amount of its oil exports, the greater influence a nation is likely to have on the global price of oil. This chart also shows the destinations of exports from the world's top oil-producers.