The United States imported about 58% of the petroleum, which includes crude oil and refined petroleum products, consumed during 2007. About half of these imports came from the Western Hemisphere. The country's dependence on foreign petroleum is expected to decline in the next two decades. Although they are the third largest crude oil producer, most of the petroleum used is imported. Western Hemisphere nations provide about half of America's imported petroleum. Net imports have generally increased since 1985 while U.S. production fell and consumption grew.
Consumption, Production, and Import Trends (1950-2007)
The United States consumed 20.7 million barrels per day (MMbd) of petroleum products during 2007 making them the world’s largest petroleum consumer. The United States was third in crude oil production at 5.1 MMbd. But crude oil alone does not constitute all U.S. petroleum supplies. Significant gains occur, because crude oil expands in the refining process, liquid fuel is captured in the processing of natural gas, and the country have other sources of liquid fuel, including biofuels. These additional supplies totaled 3.6 MMbd in 2007. However, around 13.5 MMbd of imported crude oil and petroleum products was required to meet U.S. demand. The U.S. also exported 1.4 MMbd of crude oil and petroleum products during 2007, so their net imports (imports minus exports) equaled 12.0 MMbd.
Petroleum products imported by the U.S. during 2007 included gasoline, diesel fuel, heating oil, jet fuel, chemical feedstocks, asphalt, and other products. Still, most petroleum products consumed in the United States were refined in the country. Net imports of petroleum other than crude oil were 10% of the petroleum consumed in the U.S. during 2007.
About Half of U.S. Petroleum Imports Come from the Western Hemisphere
Almost 50% of U.S. crude oil and petroleum products imports came from the Western Hemisphere (North, South, and Central America and the Caribbean including U.S. territories) during 2006. Only 16% of their crude oil and petroleum products came from the Persian Gulf countries of Bahrain, Iraq, Kuwait, Qatar, Saudi Arabia, and United Arab Emirates. During 2007, the five biggest suppliers of crude oil and petroleum products were:
- Canada (18.2%)
- Mexico (11.4%)
- Saudi Arabia (11.0%)
- Venezuela (10.1%)
- Nigeria (8.4%)
It is usually impossible to tell whether petroleum products uses come from domestic or imported sources of oil once they are refined.
Flat U.S. Petroleum Imports Expected
The Energy Information Administration (EIA) projects U.S. crude oil and petroleum products imports will hold approximately steady in the next two decades. Total U.S. petroleum consumption is expected to increase 2.1 MMbd by 2030. Meanwhile, U.S. crude oil production increases in the Gulf of Mexico and elsewhere, combined with increasing biofuel and coal-to-liquids (CTL) production, are expected to eliminate the need for increased imports over the longer term. Assuming moderate price increases, U.S. net imports of crude oil and petroleum products will decrease slightly to 12.3 MMbd to meet demand of 22.8 MMbd by 2030. In this case, U.S. petroleum import dependence will fall from nearly 60% in 2006 to 54% by 2030
Source: Energy Information Admisistration (EIA)