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Bulk Crude Oil suppliers and buyers
Bulk Crude Oil producers, manufacturers, traders and buyers post sell offers and buy requests on Comdity and agree the deal directly with each other on FOB, CFR or CIF terms.
About Crude Oil
Crude oil is traded by the barrel or by the metric ton, by grade and origin, and is shipped in tankers. The contract names the grade, quantity, loading window and the port, and the usual terms are FOB or CIF.
Crude Oil exporters and importers: who trades it in the world
World exports of Crude Oil were worth about USD 1,305.2 billion in 2024. The largest exporting countries were Saudi Arabia (14.3%), Russia (9.5%), United States (9.5%), United Arab Emirates (8.8%). The largest importing countries were China (22.3%), United States (12.8%), India (10.9%), South Korea (6.5%).
| Top exporting countries | Share of world trade |
|---|---|
| Saudi Arabia | 14.3% |
| Russia | 9.5% |
| United States | 9.5% |
| United Arab Emirates | 8.8% |
| Canada | 8.1% |
| Iraq | 7.5% |
| Top importing countries | Share of world trade |
|---|---|
| China | 22.3% |
| United States | 12.8% |
| India | 10.9% |
| South Korea | 6.5% |
| Japan | 5.6% |
| Netherlands | 4.2% |
Source: OEC (BACI/CEPII), 2024, customs codes 2709. The figures count trade by every mode of transport, not only by sea.
Crude Oil offers and requests: FOB, CFR and CIF terms available
Post a Listing
How trading Crude Oil works on Comdity
A company posts a sell offer or a buy request with the quantity, the delivery period and the ports. Other companies send an offer or a counteroffer on FOB, CFR or CIF terms. When both sides want to go on, they accept the offer, receive each other's contact details and finalise the contract directly. Comdity is a marketplace: it is not a party to the contract.
- FOB (Free On Board): the seller delivers the goods on board at the loading port; the buyer arranges and pays the sea freight.
- CFR (Cost and Freight): the seller pays the sea freight to the discharge port; the buyer carries the risk and the insurance from loading.
- CIF (Cost, Insurance and Freight): as CFR, and the seller also insures the cargo to the discharge port.
Read more: FOB vs CFR vs CIF · offer and counteroffer · how to find commodity suppliers · export and import documents.
Crude Oil is normally shipped by crude oil tanker. When the terms are agreed, you can explore suitable vessels on Shipfixing.
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