Most of the Petroleum We Use Is Imported
The United States consumed 19.5 million barrels per day of petroleum products during 2008, making us the world’s largest petroleum consumer. The United States was also third in crude oil production at 5 million barrels per day. But crude oil alone does not constitute all U.S. petroleum supplies.
Altogether, net imports of crude oil and petroleum products (imports minus exports) accounted for 57% of our total petroleum consumption in 2008.
U.S. crude oil imports grew rapidly from mid-20th century until the late 1970s, but fell sharply from 1979 to 1985 because of a fall-off of demand for petroleum products that resulted from economic conditions, conservation, and improved efficiency. After 1985, the upward trend resumed and stood at 9.8 million barrels per day in 2008. Petroleum product imports were 3.1 million barrels per day in 2008. Exports totaled 1.8 million barrels per day in 2008, mainly in the form of distillate fuel oil, petroleum coke, and residual fuel oil.
About Half of U.S. Petroleum Imports Come from the Western Hemisphere
We imported only 18% of our crude oil and petroleum products from the Persian Gulf countries of Bahrain, Iran, Iraq, Kuwait, Qatar, Saudi Arabia, and the United Arab Emirates. During 2008, our five biggest suppliers of crude oil and petroleum products were:
- Canada (19.3%)
- Saudi Arabia (11.8%)
- Mexico (10.1%)
- Venezuela (9.2%)
- Nigeria (7.7%)
U.S. petroleum imports rose sharply in the 1970s, and reliance on petroleum from the Organization of the Petroleum Exporting Countries (OPEC) grew. In 2008, 46% of U.S. petroleum imports came from OPEC countries, down from 70% in 1977. After 1992, more petroleum came into the United States from non-OPEC countries than from OPEC countries.
Did You Know?
“OPEC” and “Persian Gulf” countries are not the same.
The Organization of the Petroleum Exporting Countries, or OPEC, was organized in 1960 for the purpose of negotiating with oil companies on matters of oil production, prices, and future concession rights. Of the 12 countries currently in OPEC, only 6 of them are in the Persian Gulf.
| OPEC | Persian Gulf |
|---|---|
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The United States Doesn’t Import Just Crude Oil
In addition to crude oil, the United States also imports refined petroleum products such as gasoline. Although the United States produces more than 90% of the petroleum products it consumes, it imports about 3 million barrels per day of refined petroleum products.
In addition to imports of finished petroleum products such as gasoline, diesel fuel, and jet fuel, there are also imports of unfinished products used as refinery inputs and blending components. Unfinished oils are refined from crude oil at refineries outside the United States. Imported unfinished oils are used as inputs to U.S. refineries for processing into finished petroleum products. Imported gasoline blending components and fuel ethanol are blended at U.S. refineries and terminals to produce finished gasoline.
The United States Also Exports Oil
Because the United States is the world’s largest importer, it may seem surprising that it also exports almost 2 million barrels a day of oil, almost all of it in the form of refined petroleum products. Due to various logistical, regulatory, and quality considerations, it turns out that exporting some barrels and replacing them with additional imports is the most economic 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 the product to the U.S. East Coast because lower-cost gasoline imports are available from Europe.
Can I Tell Which Companies Purchase Imported Crude Oil or Gasoline?
While EIA cannot identify which companies are selling imported gasoline, we do collect data on which companies import crude oil and refined products. However, the fact that a given company imported crude oil or gasoline does not mean that those particular imports will end up being sold to motorists as that company’s brand of gasoline. This is because gasoline from different refineries is often combined for shipment by pipeline, and different companies owning service stations in the same area may be purchasing gasoline at the same bulk terminal.