Thursday, May 15, 2008

Who is the largest exporter of oil to the U.S.?

Saudi Arabia is the largest exporter of crude oil and petroleum products to the U.S., right? Nope. They are number 2. Canada is #1. Mexico is #3. Then Nigeria, Venezuela, and then Iraq. After that, the rest of the exporters each provide us with less than 20% of what Canada provides. As per the Department of Energy Energy Information Administration (EIA), the top 15 exporters of petroleum (both crude oil and refined products) for March were:

  1. CANADA exported 2.30 million barrels per day to the U.S. or  21.7% of U.S. imports
  2. SAUDI ARABIA exported 1.54 or 14.5%
  3. MEXICO exported 1.35 or 12.7%
  4. NIGERIA exported 1.16 or 10.9%
  5. VENEZUELA exported 1.02 or 9.6%
  6. IRAQ exported 0.77 or 7.3%
  7. ALGERIA exported 0.43 or 4.0%
  8. RUSSIA exported 0.39 or 3.7%
  9. ANGOLA exported 0.38 or 3.6%
  10. VIRGIN ISLANDS exported 0.29 or 2.7%
  11. ECUADOR exported 0.24 or 2.2%
  12. UNITED KINGDOM exported 0.22 or 2.1%
  13. BRAZIL exported 0.19 or 1.8%
  14. KUWAIT exported 0.18 or 1.7%
  15. COLOMBIA exported 0.15 or 1.4%

Exporters in North and South America accounted for over half or 52.2% of U.S. imports.

Top 15 exporters from the Middle East accounted for only 23.5% of U.S. imports.

Canada and Mexico constitute a full third or 34.4% of U.S. petroleum imports.

Total U.S. petroleum imports from the Top 15 exporters were 10.6 million barrels per day, which is down from the 2007 average of 11.3 million barrels per day and down from 11.7 million barrels per day in March 2007.

-- Jack Krupansky

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