Rajan Wilcox
The United States both imports and exports petroleum, which includes crude oil, hydrocarbon gas liquids, refined petroleum products, and biofuels. In 2023, the US imported about 8.51 million barrels per day of petroleum from 86 countries, with Canada, Mexico, Saudi Arabia, Iraq, and Brazil being the top five source countries. Crude oil imports accounted for about 76% of total US gross petroleum imports. However, the US also exported about 10.15 million barrels per day of petroleum to 173 countries and three US territories, making it a net exporter of petroleum by about 1.64 million barrels per day. While the US has historically imported more petroleum than it exported, it has become a net exporter in recent years due to increased domestic oil production and refining capabilities.
| Characteristics | Values |
|---|---|
| Total petroleum imports in 2023 | 8.51 million barrels per day (b/d) from 86 countries |
| Crude oil imports in 2023 | 6.48 million b/d, 76% of total gross petroleum imports |
| Total petroleum exports in 2023 | 10.15 million b/d to 173 countries and 3 U.S. territories |
| Crude oil exports in 2023 | 4.06 million b/d, 40% of total gross petroleum exports |
| Net petroleum imports in 2023 | -1.64 million b/d, making the U.S. a net exporter of petroleum |
| Top 5 source countries for petroleum imports in 2023 | Canada, Mexico, Saudi Arabia, Iraq, and Brazil |
| Top 2 source countries for crude oil imports | Canada and Mexico, accounting for about 70% of imports |
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What You'll Learn
In 2023, the US exported more fuel than it imported
In 2023, the United States exported more fuel than it imported. While the US imported about 8.51 million barrels per day (b/d) of petroleum from 86 countries, it exported about 10.15 million b/d of petroleum to 173 countries and 3 US territories (American Samoa, Puerto Rico, and the US Virgin Islands). This resulted in a net petroleum export of about 1.64 million b/d.
The US imported about 6.48 million b/d of crude oil, which accounted for about 76% of its total gross petroleum imports. On the other hand, it exported about 4.06 million b/d of crude oil, which made up about 40% of its total gross petroleum exports. The US imported crude oil from various countries, with Canada, Mexico, Saudi Arabia, Iraq, and Brazil being the top five source countries in 2023.
The ability to import and export crude oil and refined products benefits consumers and safeguards US energy security. While the US produces a significant amount of crude oil, its refineries require different types of crude oil, some of which are not economically feasible to produce or transport domestically. Therefore, the US relies on imports to meet the diverse needs of its refineries and maintain efficient production of fuels like gasoline, diesel, and jet fuel.
The US has increased its production volume through the implementation of unconventional extraction methods, leading to a notable increase in the volume of petroleum products being exported, peaking in 2023. This trend represents a shift from the historical norm, as prior to October 2019, the US consistently imported more petroleum and crude oil than it exported. The US has been a net exporter of petroleum in all but seven months since October 2019, showcasing the impact of its growing domestic production and changing market dynamics.
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Crude oil imports in 2023 were about 6.48 million barrels per day
In 2023, the United States imported about 8.51 million barrels per day (b/d) of petroleum from 86 countries. Petroleum includes crude oil, hydrocarbon gas liquids (HGLs), refined petroleum products such as gasoline and diesel fuel, and biofuels. Out of this, crude oil imports were about 6.48 million b/d, which accounted for approximately 76% of the US's total gross petroleum imports. This means that crude oil made up the majority of US imports.
The United States imported 75% of its petroleum and crude oil from just five countries in 2023. The top five source countries of US gross petroleum imports in 2023 were Canada, Mexico, Saudi Arabia, Iraq, and Brazil. Canada and Mexico alone supplied around one-quarter of the oil that US refiners processed into fuels such as gasoline and heating oil. The remaining 25% of petroleum imports came from 80 other countries.
The US refineries need about 16.5 million barrels per day to maintain their current production levels, which is about 90% utilization. While the US is producing a record amount of crude oil (approximately 13.4 million barrels per day), about 60% of the crude oil that runs through US refineries is extracted within the country. However, US refineries run on many different types of crude oil, some of which are not produced domestically or cannot be economically transported, so imports are necessary.
In 2023, the US exported about 10.15 million b/d of petroleum to 173 countries and three US territories (American Samoa, Puerto Rico, and the US Virgin Islands). Crude oil exports of about 4.06 million b/d accounted for 40% of total US gross petroleum exports. The total net petroleum imports (imports minus exports) were about -1.64 million b/d, indicating that the US was a net exporter of petroleum in 2023.
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The US imports fuel from over 80 countries
The United States imports and exports petroleum, which includes crude oil, hydrocarbon gas liquids (HGLs), refined petroleum products such as gasoline and diesel fuel, and biofuels. In 2023, the US imported about 8.51 million barrels per day (b/d) of petroleum from 86 countries. This figure includes crude oil imports of about 6.48 million b/d, which accounted for about 76% of US total gross petroleum imports.
The US imported petroleum from a total of 86 countries in 2023, with the top five source countries being Canada, Mexico, Saudi Arabia, Iraq, and Brazil. Canada and Mexico alone account for around one-quarter of US crude imports, according to the US Department of Energy. The remaining 25% of US petroleum imports in 2023 came from 80 other countries.
The US is a net exporter of petroleum, meaning that it exports more petroleum than it imports. In 2023, the US exported about 10.15 million b/d of petroleum to 173 countries and 3 US territories (American Samoa, Puerto Rico, and the US Virgin Islands). Crude oil exports of about 4.06 million b/d accounted for 40% of total US gross petroleum exports.
The US has extensive refining capabilities, particularly near major ports on the Gulf Coast. About 60% of the crude oil that runs through US refineries is extracted in the US, while the remaining 40% is imported from other countries. The ability to import and export crude oil and refined products is beneficial for consumers and helps to safeguard US energy security.
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The US imported 75% of petroleum and crude oil from five countries in 2023
In 2023, the US imported about 8.51 million barrels per day (b/d) of petroleum from 86 countries. This includes crude oil, hydrocarbon gas liquids (HGLs), refined petroleum products such as gasoline and diesel fuel, and biofuels. Crude oil imports of about 6.48 million b/d made up about 76% of US total gross petroleum imports.
The US imported 75% of its petroleum and crude oil from just five countries in 2023: Canada, Mexico, Saudi Arabia, Iraq, and Brazil. Canada and Mexico are the top sources of US crude imports, together accounting for around one-quarter of the oil US refiners process into fuels. About 60% of the crude oil that runs through US refineries is extracted in the US, but the country also relies on imports of many different types of crude oil that are not produced domestically or are economically unviable to transport.
The US exported about 10.15 million b/d of petroleum to 173 countries and three US territories (American Samoa, Puerto Rico, and the US Virgin Islands) in 2023. This made the US a net exporter of petroleum by about 1.64 million b/d. However, prior to October 2019, the US consistently imported more petroleum and crude oil than it exported. From October 2019 until 2023, the US was a net exporter in all but seven months.
The US has been a net importer of petroleum in most years, with imports providing 19% of the country's demand for petroleum in 2017. The US has extensive refining capabilities, particularly near major ports on the Gulf Coast, so refined products have historically made up the majority of US petroleum exports. However, in recent years, the US has begun exporting a significant quantity of crude oil due to high domestic oil production.
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The US imports fuel from Russia
In 2023, the United States imported approximately 8.5 million barrels per day (b/d) of petroleum from 86 countries. The US imported more petroleum and crude oil than it exported before October 2019. Since then, it has been a net exporter of petroleum. In 2023, the US exported about 1.64 million b/d more petroleum than it imported.
The US imports of petroleum include crude oil, hydrocarbon gas liquids (HGLs), refined petroleum products, and biofuels. In 2023, crude oil imports accounted for about 76% of total US gross petroleum imports. The top five source countries for US gross petroleum imports in 2023 were Canada, Mexico, Saudi Arabia, Iraq, and Brazil.
The United States has also imported petroleum products from Russia, including unfinished oils and fuel oil. In 2021, imports from Russia accounted for 8% of all US petroleum imports, including a 3% share of crude oil imports and a 20% share of petroleum product imports. Russia was the third-leading petroleum import partner of the US in 2020, after Canada and Mexico.
US refineries use imported unfinished oils and fuel oil as a supplement to crude oil in the refining process. The US imported a relatively small share of crude oil from Russia, but a larger share of petroleum products. In 2021, the US imports of oil and gas from Russia were valued at over 4.7 million dollars, with petroleum and coal product imports valued at nearly 12.8 million dollars.
On March 8, 2022, President Biden announced a ban on US imports of petroleum, coal, and natural gas from Russia in response to Russia's invasion of Ukraine. This ban included crude oil and petroleum products.
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Frequently asked questions
In 2023, the US imported about 8.51 million barrels per day (b/d) of petroleum from 86 countries. Crude oil imports of about 6.48 million b/d accounted for 76% of total gross petroleum imports.
The top five source countries for US gross petroleum imports in 2023 were Canada, Mexico, Saudi Arabia, Iraq, and Brazil. Canada and Mexico alone account for around one-quarter of oil imports.
US refineries run on many types of crude oil, some of which are not produced in the country or are too expensive to transport.
