Our consumption rate is much higher than the US oil production rate, thus we only import oil. In 2007 our production was about 5.1 million barrels per day, while our consumption was an astounding 20.7 million barrels per day (crude oil).
The United States isn’t even on the top 15 of exporting oil according to the US Energy Information Administration. The top 3 spots belong to Saudi Arabia, Russia and Norway.On the other hand, the United States is the largest importer of oil in the world, importing more than 12,220,000 barrels per day. Japan, China, and Germany round out the top 4 as the top nations importing oil.
The US DOES export some oil – most lately, 45,000 barrels per day (out of 19,000,000 barrels per day consumed), all of it to Canada. These are mostly exports of convenience – saving money by going to a refinery in Canada near a US oil field rather than to a more distant US Refinery. Effectively all of that oil comes back to the US as imported refined gasoline – in addition to crude oil, we import over 2 milliob b/d of refined products, including almost 800,000 b/d of gasoline.
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