Wednesday, May 5, 2021

US Crude Oil Imports -- Another Look -- May 5, 2021

Observations:

  • the US now imports more oil from Russia than from Saudi Arabia:
  • Saudi oil goes to west coast; Russia oil goes to east coast
  • of the nine primary sources of US imported oil, all showed a decreased except for three:
  • Ecuador
  • Colombia
  • Russia
  • of the nine primary sources of US imported oil, Saudi Arabia is now in 6th place, behind two small South American countries
  • on a percentage basis, it looks like Iraq took the biggest hit except for Brazil which went to "zero"
  • Mexico took a pretty big hit, also

One could argue:

  • Saudi Arabia is now (and always has been) energy dependent;
  • the US is energy independent -- and the gap is widening (in a good way)

 From social media;



2 comments:

  1. IMHO on who supplies USA with oil. The refiners will buy at lowest cost including shipping. USA tends to buy more heavy sour oil and export light sweet oil due to the types of oil that refiners are equipped to handle.

    ReplyDelete
    Replies
    1. That is absolutely correct, and that was the whole purpose of Keystone XL to get heavy oil from Canada.

      Delete

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