Fact #926: May 23, 2016 Petroleum Imports Below $200 Billion, Lowest Point in Over a Decade

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Petroleum exports were rising in 2015 and petroleum imports held fairly steady at just over 9 million barrels per day, but the value of those imports and exports was significantly lower than the previous year. The falling cost of a barrel of oil in 2015 has caused the value of petroleum imports to be less than $200 billion (in constant 2015 dollars) for the first time since 2003. Exports grew 14% by volume from 2014 to 2015 while declining 31% by value in the same period.

Petroleum Trade by Volume and Value, 1975-2015

Graphic showing petroleum trade by volume and value from 1975 to 2015

Note: For these data, petroleum includes both crude oil and petroleum products.

Fact #926 Dataset

Supporting Information

Petroleum Trade by Volume and Value, 1975-2015
YearPetroleum
Exports
Petroleum
Imports
Petroleum
Exports
Petroleum
Imports
(Million Barrels per Day)(Billion Constant 2015 Dollars)
19750.26.14.0111.0
19760.27.34.2134.2
19770.28.85.0165.7
19780.48.45.7143.7
19790.58.56.2185.2
19800.56.98.2226.2
19810.66.09.6199.9
19820.85.114.6148.5
19830.75.110.8126.6
19840.75.410.2129.9
19850.85.110.4111.2
19860.86.27.976.0
19870.86.78.288.2
19880.87.47.477.7
19890.98.19.695.0
19900.98.012.5111.7
19911.07.612.189.4
19920.97.910.886.5
19931.08.610.283.7
19940.99.09.181.3
19950.98.89.884.6
19961.09.512.1108.8
19971.010.212.7105.1
19980.910.79.673.1
19990.910.910.195.6
20001.011.514.0164.1
20011.011.911.9137.5
20021.011.511.3135.3
20031.012.313.2170.6
20041.013.116.5224.9
20051.213.723.2303.5
20061.313.733.1352.4
20071.413.538.1374.5
20081.812.967.9495.2
20092.011.749.2278.2
20102.411.870.4362.5
20113.011.4107.7455.1
20123.210.6115.6421.7
20133.69.9125.4369.5
20144.29.2127.1327.1
20154.89.487.3177.4

Sources: U.S. Energy Information Administration, March 2016 Monthly Energy Review, Tables 1.5 and 3.3a.
Adjusted for inflation using: Bureau of Labor Statistics, Consumer Price Inflation Index.

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