COMCEC Trade Outlook 2018
13
Table 2 illustrates that OPEC countries oil production decreased by 0.4 percent in 2017. Saudi
Arabia, UAE, Kuwait, Qatar, Algeria and Oman were among the major oil exporting OIC countries
that decreased their oil production in 2017 compared to the previous year.
Table 2: Oil Production thousand barrels daily
Thousand barrels
daily 2010 2011 2012 2013 2014 2015 2016 2017
Growth
Rate
Annual
(%)
2017
Share
(%)
2017
Saudi Arabia 10075 11144 11635 11393 11505 11994 12402 11951 -3,6% 12,9%
Iran 4430 4472 3820 3617 3724 3862 4602 4982 8,2% 5,4%
Iraq 2469 2773 3079 3103 3239 3986 4423 4520 2,2% 4,9%
United Arab Emirates 2915 3285 3430 3543 3599 3873 4020 3935 -2,1% 4,2%
Kuwait 2560 2913 3169 3129 3101 3065 3145 3025 -3,8% 3,3%
Nigeria 2534 2463 2413 2280 2278 2204 1903 1988 4,5% 2,1%
Qatar 1638 1834 1939 2002 1985 1958 1970 1916 -2,7% 2,1%
Kazakhstan 1676 1684 1664 1737 1710 1695 1655 1835 10,8% 2,0%
Algeria 1689 1642 1537 1485 1589 1558 1577 1540 -2,3% 1,7%
Oman 865 885 918 942 943 981 1004 971 -3,4% 1,0%
Total World 83325 84027 86229 86570 88721 91547 92023 92649 0,7% 100,0%
OPEC 35665 36478 38034 37004 36945 38362 39601 39436 -0,4% 42,6%
Non-OPEC 47660 47549 48195 49565 51775 53186 52422 53213 1,5% 57,4%
memo item:
US 7549 7859 8904 10071 11768 12750 12366 13057 5,6% 14,1%
Russian Federation 10383 10538 10660 10809 10860 11009 11269 11257 -0,1% 12,2%
Canada 3332 3515 3740 4000 4271 4389 4470 4831 8,1% 5,2%
Source: Reproduced from BP Statistical Review of World Energy 2018
Note: Includes crude oil, shale oil, oil sands and natural gas liquids.
2.1. Main Characteristics of Total OIC Merchandise Exports
The top performers in total OIC exports were Saudi Arabia, Malaysia, United Arab Emirates,
Indonesia, Turkey, Qatar and Iran which together accounted for 67.8 per cent of total OIC
exports in 2017.
Figure 14: OIC Exports to World (Top Exporters, 2017)
Source: IMF Direction of Trade Statistics
The OIC export markets are highly concentrated (Table 3). China is the top export destination
with 11.3 per cent of extra-OIC exports destined to China in 2017. Apart from China OIC exports
49
50
64
66
67
157
169
208
217
220
0 50 100 150 200 250
Nigeria
Kuwait
Iraq
Iran
Qatar
Turkey
Indonesia
United Arab Emirates
Malaysia
Saudi Arabia
Billion Dollars