OPEC: oil export value by country 2024| ��ƽ��

Crude oil export values of the OPEC in 2024, by member country (in billion U.S. dollars)

Characteristic	Revenue in billion U.S. dollars
Saudi Arabia	179
Iraq	93
United Arab Emirates	89
Iran	43
Kuwait	41
Nigeria	34
Libya	29
Venezuela	15
Algeria	13
Gabon	7
Congo	6
Equatorial Guinea	6

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Release date

July 2025

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Region

Worldwide

Survey time period

2024

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Saudi Arabia is the largest generator of crude oil export value for the Organization of the Petroleum Exporting Countries (OPEC). In 2024, its oil export revenues totaled 179 billion U.S. dollars, compared to Iraq’s 93 billion U.S. dollars. Saudi Arabia is also the largest OPEC crude oil exporter, at over six million barrels per day. In total, the OPEC' export revenue stream reached 550 billion U.S. dollars in 2024.

What is the OPEC?

The OPEC was founded in 1960 in Baghdad with just five members (Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela). Currently, there are 12 member states, accounting for about 80 percent of the world’s global crude oil reserves. OPEC’s market decisions have a significant influence on the global oil market as well as international relations, especially in times of civil unrest that can disrupt fuel supplies. The mission of the organization is to coordinate petroleum policies of its members and to ensure the stabilization of oil markets. The OPEC also provides information about the global oil market.