Despite a boom in shale oil production, the US is still importing 6.6 mb/d of crude oil. while also exporting 4.2 mb/d, resulting in a net import of 2.4 mb of crude oil (last 12 months Sep 2023-August 2024) as shown in this graph:
Fig1: US crude production, net imports and net refinery inputs
Supply and disposition
http://www.eia.gov/dnav/pet/pet_sum_snd_d_nus_mbblpd_m_cur.htm
US crude production had a 1st peak in 1970 (conventional oil), requiring increasing imports until shale oil production started to grow around 2010.
Fig 2: US crude production by gravity
The higher the API, the lighter the oil. The increase of production came from API>35. US refineries can handle an average API of 33 at present, but never lower than 30:
Fig 3: US refinery input by gravity
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRAPUS2&f=A
That is why the US must import heavier crude oil at lower APIs.
Fig 4: US crude imports by gravity
http://www.eia.gov/dnav/pet/pet_move_ipct_k_a.htm
Imports of heavier crude oil <30 API increased (e.g. from Canada) while lighter oil imports decreased.
US crude imports by country of origin:
Data are from this website:
http://www.eia.gov/dnav/pet/pet_move_impcus_a2_nus_epc0_im0_mbblpd_m.htm
Fig 5: US crude imports by country of origin
US crude imports peaked in 2007, the year the US went into recession due to high oil prices. Higher gravity imports mainly come from Canada (tar sands)
Now let’s focus on US crude oil dependency by region:
Fig 6: US crude imports from the Middle East
The US dependency on the Middle East declined substantially in the last 10 years.
Fig 7: US imports from ME in last 5 years
The graph starts with 2019, the last “normal” year before Covid. Imports are mainly from Saudi Arabia and Iraq, around 500 kb/d.
The crude oil imported from Iraq to the U.S. is typically medium sour crude. This type of crude oil has an API gravity of around 28-30 degrees and a sulfur content of about 2-3%.
Fig 8: US crude imports from Canada and Mexico
Fig 9: US crude imports from Mexico peaked in 2006 but stabilized at a lower level
Mexico had its oil production peak in 2003 and is now no longer a net exporter of oil.
To be continued with US crude imports from Africa, South America, Europe, Russia and Asia.