Following increased domestic production of petroleum in the United States and the repeal of the Crude Oil Export Ban in December 2015, overall net imports of petroleum have declined. Petroleum consists primarily of crude oil, refined petroleum products, and hydrocarbon gas liquids. Although net imports of crude oil are still positive, they have decreased from a peak of 10 million barrels per day in 2005 to just 2.7 million barrels per day in 2020. Increases in exports of refined petroleum products and hydrocarbon gas liquids over the last decade have greatly contributed to the decline of net petroleum imports.
Notes: Net imports are total imports minus exports.
Hydrocarbon gas liquids include propane and propylene.
“Refined products & other” include distillate fuel, jet fuel, motor gasoline, residual fuel oil, asphalt and road oil, aviation gasoline blending components, kerosene, lubricants, petrochemical feedstocks, petroleum coke, unfinished oils, waxes, and miscellaneous products.
Sources: U.S. Energy Information Administration, Monthly Energy Review, Tables 3.3b and 3.3e, January 2022.
U.S. Government Accountability Office, Crude Oil Markets: Effects of the Repeal of the Crude Oil Export Ban, Nov 2020.