2011 Imported Crude Oil Hit 12 Year Low Says U.S. EIA

EIA Logo All Time Low Import Crude Oil

Imported U.S. crude oil reached a 12 year low last year (2011) and was 12% lower than it’s highest level in 2005 according to the U.S. Energy Information Administration.

U.S. crude oil imports were averaging 8.9 million barrels daily in 2011, reduced by 3.2% from 2010.

According to trade data in the EIA’s February Petroleum Supply Monthly, imported crude oil fell below 9 million barrels per day for the first time since 1999. Since it’s peak in 2005 (10.1 million barrels per day), imported oil is down 12% (1.2 million barrels per day).

The EIA says that imported crude oil purchases have fallen due to refineries in the U.S. having increased access to domestic oil. For example, the newly available oil in Texas and North Dakota has played a major role in the global oil supply.

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