Jeson Clarke

How Much Oil Does the US Export?

Even though electric vehicle technology has seen big advancements and greater adoption in recent years, oil is still the lifeblood of American industry. While oil is used to create gasoline and power combustion engines, petroleum is also used to make a huge amount of products, including those involving plastics and textiles.

Millions of Barrels Per Day

The United States has historically been an importer of oil from regions like the Middle East, but in recent decades, the United States has become a major exporter of oil around the world. United States export statistics show that the country exported 8.5 Mmb/d (barrels per day) in 2020. If you need United States export statistics data, visit this website.

In the same year, United States export statistics also show that the U.S. exported 3.21 Mmb/d of crude to account for about 38% of gross petroleum exports. It's important to keep in mind that imports and exports can change year to year, and various factors can influence the exchange of oil, its price, and refining capacity.

Is the United States a Member of OPEC?

The United States is not a member of the Organization of Petroleum Exporting Countries (OPEC). Members of this group include countries like Saudi Arabia, Venezuela, and Ecuador. Previously, the United States has relied upon OPEC countries for a good portion of the oil used across the country, but since around 2010, oil production has risen in the United States leading to lesser dependence on foreign oil.

The Politics of Oil

Oil production and exportation are not without their politics in the United States. Debates have raged and policies have gone back and forth regarding where oil exploration and drilling can take place along with where pipelines can be built. It's believed that the United States has vast amounts of untapped oil beneath the ground, but obtaining this oil is a topic of heated debate in Washington and around the country.

In early 2022, the Russian invasion of Ukraine spurred near-record gas prices across the United States and the world. This once again ignited a discussion about America's dependence on foreign oil versus its need to produce domestically as well as export. Where this ends up remains to be seen, but it seems clear that decisions will need to be made either way.

Author Resource:-

Jeson Clarke writes about database technologies, import/export data and customs data tools. You can find his thoughts at impex data service blog.