FOTW #1056, November 19, 2018: Petroleum Net Imports as a Share of U.S. Consumption in 2017 was at the Lowest Level Since 1967

November 19, 2018

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The share of petroleum net imports to U.S. petroleum consumption in 2017 was 18.9% -- the lowest level since 1967. Net imports are calculated as total imports minus exports. The share of total petroleum imports relative to all U.S. petroleum consumption in 2017 was 50.8%. The two data series (net imports and total imports) have been moving in tandem for several decades, but in recent years have uncoupled due to a rise in petroleum exports. Increased crude oil production and the lifting of a crude oil export ban have contributed to the rise in exports.

Petroleum imports as a share of U.S. consumption from 1950 to 2017

Note: Net imports are total petroleum imports minus exports.

Source: U.S. Energy Information Administration, September 2018 Monthly Energy Review, Table 3.3a.

Fact #1056 Dataset

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