Welcome to Tesla Motors Club
Discuss Tesla's Model S, Model 3, Model X, Model Y, Cybertruck, Roadster and More.

U.S. Impending Crude Oil Exporter

Latest net import data is July, so U.S. may already be a net exporter of crude oil. Right now the story is mostly due to the U.S. being the world's leading producer. Hopefully in a few years plummeting U.S. demand will become a much larger driving factor.

U.S. Net Imports.png

U.S. Net Imports of Crude Oil and Petroleum Products (Thousand Barrels per Day)

Weekly U.S. Field Production of Crude Oil.png

Weekly U.S. Field Production of Crude Oil (Thousand Barrels per Day)
  • Informative
Reactions: ladysbff
Well, it's official as of this September, for the first time in many decades, the U.S. is now (barely) a net exporter of oil/oil products (oil + gasoline, diesel, jet fuel, etc):
Net Imports.png

Meanwhile, U.S. crude oil production continues to grow briskly and recently hit a record high of nearly 13,000 thousand barrels/day:
Weekly Production.png
Do you know who is buying ?

Largest market for production is self consumption.

As for exports, according to the latest EIA data:

The five largest destinations of U.S. petroleum exports by share of total exports in 2018 were.
  • Mexico 16%
  • Canada 13%
  • Japan 6%
  • Brazil 5%
  • South Korea 5%

Keep in mind, the U.S. is still a net importer of crude oil because we are an even larger net exporter of finished products like gasoline as we have tremendous refinery capacity/industry to do this. But the big news is that we are now a net petroleum product exporter.

Products we're discussing on TMC...

About Us

Formed in 2006, Tesla Motors Club (TMC) was the first independent online Tesla community. Today it remains the largest and most dynamic community of Tesla enthusiasts. Learn more.

Do you value your experience at TMC? Consider becoming a Supporting Member of Tesla Motors Club. As a thank you for your contribution, you'll get nearly no ads in the Community and Groups sections. Additional perks are available depending on the level of contribution. Please visit the Account Upgrades page for more details.