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Which Countries are Buying Russian Fossil Fuels?

by Niccolo Conte
This post is by Niccolo Conte from Visual Capitalist

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Bar chart of top importing nations of Russian fossil fuels

The Countries Buying Russian Fossil Fuels Since the Invasion

This was originally posted on Elements. Sign up to the free mailing list to get beautiful visualizations on natural resource megatrends in your email every week.

A year on from Russia’s initial invasion of Ukraine, Russian fossil fuel exports are still flowing to various nations around the world.

According to estimates from the Centre for Research on Energy and Clean Air (CREA), since the invasion started about a year ago, Russia has made more than $315 billion in revenue from fossil fuel exports around the world, with nearly half ($149 billion) coming from EU nations.

This graphic uses data from the CREA to visualize the countries that have bought the most Russian fossil fuels since the invasion, showcasing the billions in revenue Russia has made from these exports.

Top Importers of Russian Fossil Fuels

As one might expect, China has been the top buyer of Russian fossil fuels since the start of the invasion. Russia’s neighbor and informal ally has primarily imported crude oil, which has made up more than 80% of its imports totaling more than $55 billion since the start of the invasion.

The EU’s largest economy, Germany, is the second-largest importer of Russian fossil fuels, largely due to its natural gas imports worth more than $12 billion alone.

CountryTotal Value of Russian Fossil Fuel Imports*Crude OilNatural GasCoal
🇨🇳 China$66.6B$54.9B$6.1B (Read more...)

How China Became Saudi Arabia’s Largest Trading Partner

by Freny Fernandes
This post is by Freny Fernandes from Visual Capitalist

Saudi Arabia turns to China for trade

Saudi Arabia’s Trade With China Surpasses the West

Over the past two decades, the economic presence of China has been growing significantly around the world.

The country has already surpassed the U.S. as the largest trading partner of developed nations such as Japan and the European Union.

But the world’s second largest economy is making significant inroads in the Middle East as well. This graphic by Ehsan Soltani uses data from the World Trade Organization (WTO) to chart Saudi Arabia’s trading history with the EU, the U.S, and China.

Evolving Trade Relations

With China’s imports from and exports to Saudi Arabia now exceeding the major oil-producing country’s combined trade with the U.S. and the EU, China has become Saudi Arabia’s dominant trading partner.

Saudi Arabia Net Trade by YearWith China ($B)With U.S. ($B)With EU-27 ($B)
2021$87.3B$25.1B$53.1B
2020$67.2B$20.6B$43.8B
2019$78.1B$28.3B$57.4B
2018$63.5B$38.2B$62.7B
2017$50.1B$36.0B$52.6B
2016$42.9B$36.0B$49.1B
2015$51.8B$43.2B$56.9B
2014$69.1B$67.1B$73.0B
2013$72.2B$72.1B$75.2B
2012$73.3B$75.3B$74.3B
2011$64.3B$62.7B$70.0B
2010$43.2B$44.1B$47.4B
2009$32.6B$34.0B$38.2B
2008$41.8B$69.5B$58.4B
2007$25.4B$47.6B$47.3B
2006$20.1B$40.9B$46.2B
2005$16.1B$35.7B$39.9B
2004$10.3B$27.8B$30.5B
2003$7.3B$24.1B$24.4B
2002$5.1B$18.7B$20.5B
2001$4.1B$19.2B$19.6B

Back in 2001, Saudi Arabia’s trade with China was a mere fraction—just one-tenth—of its combined trade with the EU and United States. While (Read more...)

The Periodic Table of Commodity Returns (2013-2022)

by Nick Routley
This post is by Nick Routley from Visual Capitalist

periodic table of commodity returns 2022

The Periodic Table of Commodity Returns (2013-2022)

Trying to predict which commodities will come out on top in any given year is tricky business—especially during this turbulent period in markets.

By looking back at previous years, investors can gain insights into long-term trends and patterns in commodity prices. To help better understand these trends, U.S. Global Investors releases a visualization called the Periodic Table of Commodity Returns at the outset of each year.

This year’s edition looks back over the past decade of returns between 2013 and 2022, and features an interactive design that allows users to sort returns by various categories including returns, volatility, and other groupings.

Editor’s note: Because of the Russia-Ukraine conflict, regional benchmarks for some commodities (coal, natural gas) had much bigger price divergences than is typical. In this case the graphic focuses in on U.S. regional benchmarks like Powder River Basin coal and Henry Hub natural gas prices. These prices may differ from price action seen around the world.

More Volatility, but Positive Returns

After 2021 saw an impressive surge in commodity prices as the world reopened post-pandemic, 2022 brought another year of positive returns for the asset class that were defined by high levels of volatility.

The broad-based S&P Goldman Sachs Commodity Index (GSCI) surged 52.1% in the first five months of 2022, as supply disruptions and fears across grains, metals, and energy fuels were spurred by Russia’s invasion of Ukraine.

The second half of the year saw prices cool as the (Read more...)

Interactive Map: Crude Oil Pipelines and Refineries of the U.S. and Canada

by Christina Kostandi

Mapped: Crude Oil Pipelines and Refineries of the U.S. and Canada

Pipelines are the primary method of transporting crude oil around the world, delivering oil and its derivative products swiftly to refineries and empowering reliant businesses.

And North America is a major oil hub. The U.S. and Canada alone are home to more than 90,000 miles of crude oil and petroleum product pipelines, along with more than 140 refineries that can process around 20 million barrels of oil every day.

This interactive graphic uses data from Rextag to map out crude oil pipelines and refineries across the U.S. and Canada, showcasing individual pipeline diameter and daily refinery throughput.

The Longest Crude Oil Pipeline Networks in North America

Since 2010, U.S. crude oil production has more than doubled from 5.4 million barrels a day to more than 11.5 million. Meanwhile, the pipeline networks needed to transport this newly produced oil have only expanded by roughly 56%.

Today, the largest pipeline network across the U.S. and Canada (with a diameter of at least 10 inches) is the 14,919 mile network managed by Plains, which spans from the northwestern tip of Alberta all the way down to the southern coasts of Texas and Louisiana.

CompanyLength of Crude Oil Pipeline Network
Plains Pipeline LP14,919 miles
Enbridge Energy Partners LP12,974 miles
Sunoco Inc.6,409 miles
MPLX LP5,913 miles
Lotus Midstream5,767 miles

Source: Rextag

Enbridge owns the next largest crude oil pipeline network, with 12,974 miles of crude oil pipelines (Read more...)

The Periodic Table of Commodity Returns (2012-2021)

by Niccolo Conte
This post is by Niccolo Conte from Visual Capitalist

periodic table of commodity returns (2012-2021)

The Periodic Table of Commodity Returns (2022 Edition)

For investors, 2021 was a year in which nearly every asset class finished in the green, with commodities providing some of the best returns.

The S&P Goldman Sachs Commodity Index (GSCI) was the third best-performing asset class in 2021, returning 37.1% and beating out real estate and all major equity indices.

This graphic from U.S. Global Investors tracks individual commodity returns over the past decade, ranking them based on their individual performance each year.

Commodity Prices Surge in 2021

After a strong performance from commodities (metals especially) in the year prior, 2021 was all about energy commodities.

The top three performers for 2021 were energy fuels, with coal providing the single best annual return of any commodity over the past 10 years at 160.6%. According to U.S. Global Investors, coal was also the least volatile commodity of 2021, meaning investors had a smooth ride as the fossil fuel surged in price.

Commodity2021 Returns
Coal160.61%
Crude Oil55.01%
Gas46.91%
Aluminum42.18%
Zinc31.53%
Nickel26.14%
Copper25.70%
Corn22.57%
Wheat20.34%
Lead18.32%
Gold-3.64%
Platinum-9.64%
Silver-11.72%
Palladium-22.21%

Source: U.S. Global Investors

The only commodities in the red this year were precious metals, which failed to stay positive despite rising inflation across goods and asset prices. Gold and silver had returns of -3.6% and -11.7% respectively, with platinum returning -9.6% and palladium, the worst performing commodity of 2021, at -22.2%.

Aside from the precious metals, every other (Read more...)

How Every Asset Class, Currency, and S&P 500 Sector Performed in 2021

by Niccolo Conte
This post is by Niccolo Conte from Visual Capitalist

2021 asset performance

How Every Market Performed in 2021

After the roller coaster of volatility in 2020, the majority of asset classes in 2021 saw positive returns as the world reopened for business.

The Federal Reserve’s accommodative monetary policy, supply chain struggles, and high demand for fuels and raw materials for the clean energy transition largely shaped the markets.

Alongside the rise in inflation, commodities and cryptocurrency outperformed as broad equity indices saw double-digit returns, with the S&P 500 rising by 26.9% in 2021.

Markets Roundup for 2021

Speculation and the energy fuels for the world’s reopening were two of the main themes for markets in 2021, reflected in Bitcoin (59.8%) and crude oil (56.4%) being the top two performing assets in that time frame.

The S&P GSCI commodity index (37.1%) was another top performer, as agricultural and livestock food prices rose alongside the Dow Jones Real Estate Index (35.1%).

Asset Class2021 ReturnAsset Type
Bitcoin59.8%Cryptocurrency
WTI Crude Oil56.4%Commodity
S&P GSCI37.1%Commodity
Dow Jones Real Estate Index35.1%Real Estate
S&P 50026.9%Equities
S&P/TSX Composite21.7%Equities
Russell 200013.7%Equities
MSCI EAFE7.8%Equities
U.S. Dollar6.4%Currency
Bloomberg Barclays Corporate Bonds Index-1.2%Bonds
Bloomberg U.S. Treasury Index-2.5%Bonds
Gold-3.6%Commodity
MSCI Emerging Markets-5.5%Equities
Silver-11.7%Commodity

Source: TradingView

Despite most physical and digital commodities seeing price gains, precious metals such as gold (-3.6%) and silver (-11.7%) struggled to hold onto their value, while industrial and battery metals like lithium (Read more...)

What’s Made from a Barrel of Oil?

by Niccolo Conte
This post is by Niccolo Conte from Visual Capitalist

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Infographic: What's Made from a Barrel of Oil?

What Products Are Made from a Barrel of Oil?

This was originally posted on Elements. Sign up to the free mailing list to get beautiful visualizations on natural resource megatrends in your email every week.

From the gasoline in our cars to the plastic in countless everyday items, crude oil is an essential raw material that shows up everywhere in our lives.

With around 18 million barrels of crude oil consumed every day just in America, this commodity powers transport, utilities, and is a vital ingredient in many of the things we use on a daily basis.

This graphic visualizes how much crude oil is refined into various finished products, using a barrel of oil to represent the proportional breakdown.

Barrel of Oil to Functional Fuel and More

Crude oil is primarily refined into various types of fuels to power transport and vital utilities. More than 85% of crude oil is refined into fuels like gasoline, diesel, and hydrocarbon gas liquids (HGLs) like propane and butane.

Along with being fuels for transportation, heating, and cooking, HGLs are used as feedstock for the production of chemicals, plastics, and synthetic rubber, and as additives for motor gasoline production.

Refined Crude Oil ProductShare of Crude Oil Refined
Gasoline42.7%
Diesel27.4%
Jet fuel5.8%
Heavy fuel5.0%
Asphalt4.0%
Light fuel3.0%
Hydrocarbon gas liquids2.0%
Other10.1%

Source: Canadian Association of Petroleum Producers

Crude oil not only powers our (Read more...)