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Australia’s crude oil export volume has declined over the past decade. In the financial year 2024, the volume of crude oil exported from Australia was approximately thousand megaliters. Crude oil is refined to produce petroleum products such as automotive gasoline, diesel, jet fuel, and LPG.

Who does Australia trade crude oil with?

´¡³Ü²õ³Ù°ù²¹±ô¾±²¹Ìýproduces a significant volume of crude oil. Interestingly, most of this oil is exported, with the largest export destinations being Indonesia and Singapore. Despite this, Australia is a net importer of crude oil. The crude oil refined within the country is generally imported from Asia, Africa, and the Middle East, and make up most of the oil processed in its refineries.

Crude oil production

The value of crude oil across Australia has been slowly recovering over the past few years, reaching almost ** billion Australian dollars in 2024. Australia produces most of its crude oil in the Carnarvon/Perth basin, with BHP Billiton and Woodside among the major crude oil companies operating in Western Australia.