Soaring imports drive new record in crude and products shipments
By Richard Rostad, analyst, Oil & Gas 360

The U.S. has become a major presence in the global petroleum trade, with gross imports and exports reaching an all-time high in 2018.

The EIA reports the total U.S. imports and exports of crude and refined products reached 17.5 MMBPD in 2018, well above the previous highs seen in the mid-2000s. This record has been achieved at a time when net imports are at a multi-decade low, as the U.S. imported a net 2.3 MMBOPD in 2018. This is the lowest net import of petroleum since 1967.

Imports of crude oil have been falling since 2005 and averaged 7.7 MMBOPD in 2018. Light oil from the Bakken, Eagle Ford and Permian have drive...

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