U.S. Oil Consumption
U.S. Oil Consumption U.S. Oil Production

Basic statistics

Daily U.S. Oil Statistics

U.S. Crude Oil Production 5,064,000 barrels/day
U.S. Crude Oil Imports 10,031,000 barrels/day
U.S. Petroleum Consumption 20,680,000 barrels/day
U.S. Motor Gasoline Consumption 9,286,000 barrels/day*
U.S. Total Petroleum Exports 1,433,000 barrels/day
  • 9,286,000 barrels = 390 million gallons

There are several interesting things that these data represent. They show that the U.S. imports about double the crude oil it produces each day. Also, the U.S. exports only about 14% of what it imports. The fact that petroleum consumption is over four times the amount of crude oil production highlights just how dependent the U.S. is on foreign oil.

U.S. Monthly Imports for Oct. 2007-Sept. 2008

Month Imports (Thousand Barrels)
Oct. 2007 402,396
Nov. 2007 395,643
Dec. 2007 398,950
Jan. 2008 418,274
Feb. 2008 365,509
Mar. 2008 389,065
Apr. 2008 397,556
May 2008 398,714
June 2008 401,007
July 2008 404,983
Aug. 2008 404,853
Sept. 2008 345,361

These data are important so that fluctuations in oil production throughout the year can be seen. It does not appear that there are many large fluctuations. There is a relatively large rise between December 2007 and January 2008, and then a subsequent drop from January 2008 to February 2008. These are possibly just the effects of seasonal changes and activities. There is also a significant drop between August 2008 and September 2008. These fluctuations indicate good time periods to research to learn more about why the U.S. consumes more at certain times or produces less at certain times of the year. After considering the fact that the fluctuations in monthly production on the U.S. Oil Production due not match up with the fluctuations above, it can be concluded that the increase in imports is most likely due to increased consumption.

Where U.S. oil comes from

Top 5 Countries of Origin for U.S. Oil

Rank Country Annual Imports (Thousand Barrels) % of Total
1 Canada 895,976 18.23%
2 Mexico 559,304 11.38%
3 Saudi Arabia 541,987 11.03%
4 Venezuela 496,684 10.10%
5 Nigeria 413,932 8.42%
Total 4,915,957

These data provide a good view of where U.S. oil imports really come from. It is clear that the two major countries are actually just our neighbors. The top five, surprisingly, only contains one country from the Middle East. This ranking helps better frame the impact of events in the news.

U.S. Imports - OPEC v.s Non-OPEC

Annual Imports (Thousand Barrels) % of Total
OPEC 2,182,607 44.40%
Non-OPEC 2,733,350 55.60%
Total U.S. Imports 4,915,957 100%

OPEC - a cartel of thirteen countries made up of Algeria, Angola, Ecuador, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela.

These data show that OPEC does supply a very significant portion of U.S. oil. Though not quite half, their stake is large enough where they can make threats, so we must pay close attention to any news involving OPEC.

Statistics were taken from EIA Website.

U.S. Oil Consumption v.s. the Rest of the World

oil_consumption_by_country_1.jpg world_oil_consumption.jpe

As these images clearly show, the U.S. far exceeds any other country in oil consumption. It is currently consuming 25% of the amount that the world as a whole is consuming. Looking at the line graph for oil consumption by country, it can easily be seen that the U.S. consumes much more oil than its two closest competitors, Japan and China, and it continues to grow in oil consumption. The bottom graph is particularly telling. It demonstrates that the U.S. alone consumed more oil than the next 20 oil-consuming countries combined. This begins to develop the picture of why the U.S. oil situation is in bad shape.

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