Overall, the United States imports more than it exports, making it a net importer of petroleum. Most of the petroleum imported by the U. In the third quarter of , crude oil accounted for approximately one quarter of all U. In the third quarter of , the U. Also in Oil and petroleum products explained Oil and petroleum products Refining crude oil Where our oil comes from Imports and exports Offshore oil and gas Use of oil Prices and outlook Oil and the environment.
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Gulf Coast regions. At the same time, many states with high motor fuel demand lack such infrastructure and instead receive fuels via shipping, rail and trucking. Florida, Oregon and the New England states are prime examples of states that depend heavily on more expensive transportation modes and imports. The map below shows the concentration of U. Crude oil is not a homogenous product. The U. In general, refineries match their processing capabilities with types of crude oils from around the world that enable them to:.
While transportation runs primarily on motor fuels, our society also depends on thousands of products that begin as crude oil. Heavier crude oils contain more complex molecules, so they are better for producing many of these niche products. However, turning heavy oil into high-quality products also requires more advanced molecular processing than is possible with simple refining or distillation.
Consequently, using heavy oil requires substantial capital investments in additional refining processes, such as cracking or coking, or so-called conversion capacity. With the requisite additional investment and processing cost, heavy oil typically has been priced less than light oil. Therefore, many U. Shifting purely to light crude oil could underserve some product markets and idle or even strand the hundreds of billions of dollars invested in refinery conversion capacity.
The supply, demand and prices for various crude oils and products have continually solved this equation for producers and refiners to determine the role that crude oils of different qualities should play in the market, in accordance with economic fundamentals. Since the U. However, largely because of declines in domestic crude oil production and corresponding increases in crude oil imports, EIA expects the United States to return to being a net petroleum importer on an annual basis in both and EIA expects that increasing crude oil imports will drive the growth in net petroleum imports in and and more than offset changes in refined product net trade.
EIA forecasts that net imports of crude oil will increase from its average of 2. Compared with crude oil trade, net exports of refined petroleum products did not change as much during
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