Saudi Arabia, Iran Sent 62% of Oil Exports to Asia in 2011
Asian buyers received 4.5 million barrels a day of Saudi crude last year, rising from 4.3 million in 2010, the Organization of Petroleum Exporting Countries said in the report today. Iran shipped 1.4 million barrels a day to Asia in 2011, compared with 1.6 million the previous year.
The producer group’s exports to North America and Western Europe fell in 2011 as total consumption of oil in those regions shrank 1.2 percent and 2.1 percent, respectively.
The world’s five biggest crude exporters last year were Saudi Arabia at 7.2 million barrels a day, Russia at 5.8 million, Nigeria at 2.4 million, United Arab Emirates at 2.3 million and Iran at 2.3 million.
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