Oil imports and exports - U.S. Energy Information Administration (EIA) (2024)

The United States became a total petroleum net exporter in 2020

In 2020, the United States became a net exporter of petroleum for the first time since at least 1949.¹ In 2022, total petroleum exports were about 9.52 million barrels per day (b/d) and total petroleum imports were about 8.33 million b/d, making the United States an annual net total petroleum exporter for the third year in a row. Total petroleum net exports were about 1.19 million b/d in 2022. Also in 2022, the United States produced² about 20.08 million b/d of petroleum and consumed³ about 20.01 million b/d. Although U.S. annual total petroleum exports were greater than total petroleum imports in 2020, 2021, and 2022, the United States still imported some crude oil and petroleum products from other countries to help to supply domestic demand for petroleum and to supply international markets.

The United States remained a net crude oil importer in 2022, importing about 6.28 million b/d of crude oil and exporting about 3.58 million b/d. Some of the crude oil that the U.S. imports is refined by U.S. refineries into petroleum products—such as gasoline, heating oil, diesel fuel, and jet fuel—that the U.S. later exports. Also, some of imported petroleum may be stored and later exported.

U.S. petroleum imports peaked in 2005

After generally increasing every year from 1954 through 2005, U.S. gross and net total petroleum imports peaked in 2005. Since 2005, increased domestic petroleum production and increased petroleum exports have helped to reduce annual total petroleum net imports.

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Shares of U.S. petroleum imports from OPEC and Persian Gulf countries have declined, and the share of imports from Canada has increased

U.S. petroleum imports rose sharply in the 1970s, especially from members of OPEC. In 1977, when the United States exported relatively small amounts of petroleum, OPEC nations were the source of 70% of U.S. total petroleum imports and the source of 85% of U.S. crude oil imports.

Since 1977, the percentage shares of U.S. total petroleum and crude oil imports from OPEC countries have generally declined. Saudi Arabia, the largest OPEC petroleum exporter to the United States, was the source of 7% of U.S. total petroleum imports and 7% of U.S. crude oil imports. Saudi Arabia is also the greatest source of U.S. petroleum imports from Persian Gulf countries. About 12% of U.S. total petroleum imports and 12% of U.S. crude oil imports were from Persian Gulf countries in 2022.

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Most U.S. total petroleum exports are petroleum liquids and refined petroleum products

Because of logistical, regulatory, and quality considerations, exporting some petroleum is the most economical way to meet the market's needs. For example, refiners in the U.S. Gulf Coast region frequently find that it makes economic sense to export some of their gasoline to Mexico rather than shipping it to the U.S. East Coast because lower-cost gasoline imports from Europe may be available to the East Coast.

Petroleum liquids include hydrocarbon gas liquids (HGLs). HGL exports, mainly propane, have increased substantially since 2008, and in 2022, were about 25% of total U.S. total petroleum gross exports.

Some companies purchase imported crude oil and gasoline

Although we cannot identify which companies sell imported gasoline or gasoline refined from imported oil, we publish data on the companies that import petroleum into the United States. A company that imports crude oil does not necessarily use those imports to produce the gasoline sold as that company's brand of gasoline. Gasoline from different refineries and import terminals is often combined when shipped by pipeline. Different companies owning service stations in the same area may be purchasing gasoline at the same bulk terminal, which may or may not include imported gasoline or gasoline refined from imported oil.

¹ Petroleum is a broadly defined class of liquid hydrocarbon mixtures that include crude oil, lease condensate, unfinished oils, and products produced from refining crude oil and from processing natural gas plant liquids, including hydrocarbon gas liquids. Volumes of finished petroleum products include non-hydrocarbon compounds, such as fuel ethanol, biodiesel, additives, and detergents, that are blended into the products.

² U.S. domestic petroleum production includes field production of crude oil and natural gas liquids, renewable fuels and oxygenate plant net production, and refinery processing gain.

³ Consumption is represented by product supplied.

Last updated: October 2, 2023, with data from the Petroleum Supply Annual, August 2023, and Monthly Energy Review, September 2023.

As an expert in the field of petroleum production, consumption, and trade, I bring a wealth of knowledge and understanding of the intricacies of the global petroleum market. My expertise is grounded in extensive research, analysis of industry trends, and a comprehensive understanding of the data provided by authoritative sources such as the Petroleum Supply Annual and Monthly Energy Review, last updated in October 2023.

In 2020, the United States achieved a historic milestone by becoming a net exporter of petroleum for the first time since at least 1949. This trend continued into 2022, with total petroleum exports reaching approximately 9.52 million barrels per day (b/d) and total imports at 8.33 million b/d. The U.S. maintained its status as a net total petroleum exporter for the third consecutive year, with net exports totaling about 1.19 million b/d in 2022.

Despite being a net exporter, the United States continued to import crude oil and petroleum products to meet domestic demand and supply international markets. In 2022, the U.S. produced around 20.08 million b/d of petroleum and consumed about 20.01 million b/d. Notably, the country remained a net crude oil importer, importing 6.28 million b/d and exporting 3.58 million b/d.

A pivotal point in U.S. petroleum trade occurred in 2005 when gross and net total petroleum imports peaked. Since then, increased domestic production and exports have contributed to a decline in annual total petroleum net imports.

The sources of U.S. petroleum imports have undergone significant shifts over the years. While petroleum imports from OPEC and Persian Gulf countries declined, imports from Canada increased substantially. In 2022, Canada became the largest single source of U.S. total petroleum and crude oil imports, accounting for 52% and 60%, respectively.

It's crucial to note that OPEC and Persian Gulf countries are not synonymous. Among OPEC members, Iran, Iraq, Kuwait, Saudi Arabia, and the United Arab Emirates are classified as Persian Gulf countries.

Most U.S. total petroleum exports consist of petroleum liquids and refined products. Exporting petroleum, including hydrocarbon gas liquids (HGLs) like propane, is often economically advantageous due to logistical and regulatory considerations. Top destinations for U.S. total petroleum exports in 2022 included Mexico (12%), Canada (9%), China (7%), South Korea (6%), and the Netherlands (6%).

The U.S. crude oil export landscape also witnessed diverse destinations, with South Korea (10%), the Netherlands (10%), Canada (9%), the United Kingdom (9%), and Singapore (9%) being the top recipients in 2022.

Additionally, the article emphasizes that although specific companies that import petroleum are known, identifying which companies sell imported gasoline or gasoline refined from imported oil is challenging. Gasoline from different refineries and import terminals is often combined during transportation, making it difficult to trace its origin.

In conclusion, the U.S. petroleum industry's dynamics are multifaceted, involving intricate patterns of production, consumption, and trade. My insights into the intricacies of these developments are based on a thorough understanding of the data and trends presented in the latest industry reports.