While a handful of countries are fortunate enough to have sufficient domestic production, many others must go to the $3 trillion global crude market for their energy needs.
Visualizing The Flow Of Oil Around The World
We previously showed how oil prices affect the currencies of net oil importers and exporters, but today’s map and corresponding data from BP looks more specifically at how oil changes hands on the global market.
Lee Ainslie's Maverick Capital had a difficult third quarter, although many hedge funds did. The quarter ended with the S&P 500's worst month since the beginning of the COVID pandemic. Q3 2021 hedge fund letters, conferences and more Maverick fund returns Maverick USA was down 11.6% for the third quarter, bringing its year-to-date return to Read More
The Middle East was the biggest exporter of crude oil with 850.1 million tonnes shipped in 2014. Other major exporters include Russia (294.8), West Africa (213.9), and Canada (148.6).
Many countries in this category, such as Canada, are having their currencies hammered to historic lows.
Here is how major currencies did over 2015 – near the bottom of the list, you will see the currencies of many of the significant oil exporters such as Russia, Mexico, Canada, and Norway.
Source Visual Capitalist