US Crude Oil Imports by Country: List of Crude Oil Importers in the US

Explore US Crude Oil Import Data by Country. Discover a detailed list of crude oil importers in the United States, including country-specific import statistics and trends.

US Crude Oil Imports by Country: List of Crude Oil Importers in the US

Over the past few decades, there have been substantial changes to the US crude oil landscape. In the past, the United States' energy and crude oil demands were largely met by imported crude oil. Recent patterns, however, indicate a slow change in this reliance. About 40% of all petroleum consumption in the US comes from imports, making them an essential part of the country's energy mix. The United States imported $172.42 billion worth of crude oil in 2023, a 16% decline from the previous year. Based on the US import data, the US crude oil imports reached $133.56 billion in the first 3 quarters of 2024 with a total import quantity of 1.78 billion barrels of crude oil.

The United States imported roughly 6.48 million barrels of crude oil per day in 2023, for a total of 236.52 million barrels of crude oil imports, according to the most recent data from the U.S. Energy Information Administration (EIA). The United States is the world's second-largest importer of crude oil, after China and crude oil is the country's second-most imported commodity. This article will examine the most recent developments and market analysis of US crude oil imports for 2023–2024 and how they affect the world energy market.

US Crude Oil Importers Data and Import Trends

  • According to our live US crude oil importers database and US buyers list, Valero Energy Corporation, Chevron Corporation, and ExxonMobil are the leading crude oil importers in the USA.
  • Based on the crude oil importers data of the US, there are 2000+ active crude oil importers and buyers in the USA.
  • Approximately 76% of all US gross petroleum imports were crude oil imports.
  • Crude oil accounts for the largest portion of all energy imports into the US, at 66%.
  • These crude oil importers import crude oil from 3100+ crude oil suppliers globally.
  • According to the US shipment data, there are 28900+ active crude oil import shipments into the US.
  • The US imports crude oil from 100+ countries as per the US import data by country.
  • The 4-digit HS code for crude oil is 2709 which specifies crude oil in the category of mineral fuels and crude oils under HS code 27 for international trade.

List of Top Crude Oil Importers in the US | US Crude Oil Importers Database 

These are the leading top 10 crude oil importers in the US as per the US importers data and US crude oil import data for 2023-24.

1. Valero Energy Corporation: Import Value: ~$25 billion

valero-energy-corporation

  • Being the biggest crude oil importer in the US, it is a leading international importer and marketer of automotive fuels and petrochemicals.
  • Total Import Quantity: ~230 million barrels
  • Active Import Shipments: Over 9,000 annually
  • Headquarters: San Antonio, Texas

2. Chevron Corporation: Import Value: ~$21 billion

chevron

  • A major energy company and the second-biggest oil importer in the US.
  • Total Import Quantity: ~190 million barrels
  • Active Import Shipments: Over 8,000 annually
  • Headquarters: San Ramon, California

3. ExxonMobil: Import Value: ~$18 billion

exxonmobil

  • This company, being a top crude oil importer in the US, is also one of the world's largest energy suppliers.
  • Total Import Quantity: ~165 million barrels
  • Active Import Shipments: Over 7,000 annually
  • Headquarters: Irving, Texas

4. Marathon Petroleum Corporation: Import Value: ~$16 billion

marathon-petroleum-corporation

  • A top crude oil importer, petroleum product refiner, and retail company.
  • Total Import Quantity: ~150 million barrels
  • Active Import Shipments: Over 6,500 annually
  • Headquarters: Findlay, Ohio

5. Phillips 66: Import Value: ~$14 billion

Phillips-66

  • A diversified energy manufacturing and logistics company.
  • Total Import Quantity: ~125 million barrels
  • Active Import Shipments: Over 5,500 annually
  • Headquarters: Houston, Texas

6. Motiva Enterprises: Import Value: ~$12 billion

  • A joint venture between Saudi Aramco and Shell Oil Company famous for its crude oil imports worldwide.
  • Total Import Quantity: ~110 million barrels
  • Active Import Shipments: Over 5,000 annually
  • Headquarters: Houston, Texas

7. Shell USA (formerly Shell Oil Company): Import Value: ~$10 billion

  • The U.S.-based subsidiary of Royal Dutch Shell is engaged in oil and gas exploration, production, and marketing.
  • Total Import Quantity: ~100 million barrels
  • Active Import Shipments: Over 4,500 annually
  • Headquarters: Houston, Texas

8. Tesoro Corporation (now Andeavor, acquired by Marathon Petroleum): Import Value: ~$8.5 billion

tesoro-corporation

  • It is a leading independent refiner and marketer of petroleum products.
  • Total Import Quantity: ~80 million barrels
  • Active Import Shipments: Over 3,500 annually
  • Headquarters: San Antonio, Texas

9. BP America: Import Value: ~$7.2 billion

BP-america

  • BP America plc is famous for crude oil and gas imports, production, and refining.
  • Total Import Quantity: ~70 million barrels
  • Active Import Shipments: Over 3,000 annually
  • Headquarters: Houston, Texas

10. HollyFrontier Corporation: Import Value: ~$6 billion

  • It is one of the biggest petroleum oil refiners and crude oil importers in the USA.
  • Total Import Quantity: ~60 million barrels
  • Active Import Shipments: Over 2,500 annually
  • Headquarters: Dallas, Texas

US Crude oil Imports by Country | US Crude oil Import Data by Country

Canada is the leading source of crude oil imports to the United States, followed by Saudi Arabia and Mexico. About 3.8 million barrels of crude oil were imported daily by the US from Canada in 2023, bringing the total import value to $97.18 billion for US imports from Canada. In the past, a sizable amount of the domestic energy demands of the United States have been met by imports of foreign crude oil. The nation is dependent on imported crude oil since, although being a big crude oil producer, its consumption has continuously exceeded its domestic production. The total US import quantity for its crude oil imports was 370.39 million cubic meters. The top ten countries with whom the US imports crude oil in 2023 based on the US oil import data by country are:

US crude oil import partner

Total import value ($)

Import quantity (cubic m)

1. Canada

$97.18 billion

223.85 million cubic meters

2. Mexico

$20.35 billion

42.61 million cubic meters

3. Saudi Arabia

$10.81 billion

19.98 million cubic meters

4. Iraq

$6.01 billion

12.41 million cubic meters

5. Brazil

$5.90 billion

10.65 million cubic meters

6. Colombia

$5.59 billion

11.11 million cubic meters

7. Nigeria

$4.73 billion

8.43 million cubic meters

8. Ecuador

$3.95 billion

7.48 million cubic meters

9. Venezuela

$3.45 billion

7.59 million cubic meters

10. Guyana

$3.09 billion

5.64 million cubic meters

  1. Canada: $97.18 billion (56.4%)
  2. Mexico: $20.35 billion (11.8%)
  3. Saudi Arabia: $10.81 billion (6.3%)
  4. Iraq: $6.01 billion (3.5%)
  5. Brazil: $5.90 billion (3.4z%)
  6. Colombia: $5.59 billion (3.2%)
  7. Nigeria: $4.73 billion (2.7%)
  8. Ecuador: $3.95 billion (2.3%)
  9. Venezuela: $3.45 billion (2%)
  10. Guyana: $3.09 billion (1.8%)

United States Domestic Crude Oil Consumption

With a significant portion of its energy needs being satisfied by crude oil and petroleum products, the USA is one of the world's largest consumers of crude oil. Various sectors, as well as shipping, residential, commercial, and industrial needs, push the country's domestic crude oil consumption. Encouraged by economic growth, energy efficiency initiatives, and the adoption of potential power assets, the total amount of crude oil consumed in the United States has varied throughout time. According to recent data from the U.S. Energy Information Administration (EIA), the United States consumed over 20 million barrels of crude oil per day in 2023.

Crude Oil Consumption in the US by Industry

The largest percentage of crude oil intake in the US occurs in the transportation sector. This includes gasoline for passenger motors, jet gas for aircraft, and diesel for automobiles and buses. The industrial sector, which encompasses mining, manufacturing, and other industrial activities, is the second-largest consumer of crude oil. Petroleum products are typically utilized as power technology and as feedstock for various operations. By heating crude oil, propane, and other petroleum-based fuels for cooking and space heating, the residential and commercial sectors also add to crude oil intake.

Factors Affecting the US Crude Oil Import Demand

The following are some of the elements that affect the US crude oil market:

  1. Economic Development: As the economy grows, there is a greater need for goods and services, which raises the use of energy, especially crude oil.
  2. Transportation Patterns: The need for gasoline along with additional transportation fuels is mostly determined by the number of automobiles on the road, the average number of miles driven, and the fuel efficiency of vehicles.
  3. Industrial Activity: The desire for crude oil and petroleum products like feedstock or energy sources is directly impacted by the degree of manufacturing and industrial activity.
  4. Energy costs: As consumers and companies look for more affordable options or put energy-saving measures in place, rising crude oil costs may cause demand to decline.
  5. Energy Conservation: Crude oil consumption can be decreased by energy efficiency improvements, such as more fuel-efficient automobiles, improved building insulation, and more effective industrial processes.
  6. Renewable Energy Sources: As renewable energy sources like solar, wind, and biofuels become more widely used, some of the requirements for crude oil may be replaced in several industries.

Effects of US Crude Oil Imports on the Economy

  • There are significant economic ramifications to the United States' reliance on foreign crude oil imports. The cost of importing crude oil is among the most significant issues.
  • The impact of crude oil imports on the import-export balance is another economic consequence. As more money moves abroad to pay for imported crude oil, the US trade gap grows.  
  • Additionally, fluctuations in the price of crude oil around the world can cause economic uncertainty and interfere with business planning and investment decisions.

US Crude Oil Imports in the last 10 years

Year of Trade

US Crude oil import value ($)

Crude oil import quantity

2013

$279.48 billion

386.14 million tons

2014

$253.22 billion

309.04 million tons

2015

$132.60 billion

424.09 million tons

2016

$108.09 billion

448.13 million tons

2017

$139.29 billion

460.32 million tons

2018

$162.75 billion

428.57 million tons

2019

$132.34 billion

378.29 million tons

2020

$81.82 billion

332.40 million tons

2021

$138.46 billion

350.44 million tons

2022

$204.71 billion

359.12 million tons

2023

$172.42 billion

370.39 million tons

 

The US trade policy and rules on imports of crude oil

  • To control crude oil imports, encourage home production, and handle environmental issues, the US government has put in place several laws and programs. To control crude oil imports, the federal government can enforce trade restrictions such as taxes and quotas.
  • The Renewable Fuel Standard (RFS), which requires the incorporation of biofuels like ethanol and biodiesel into transportation fuels, is one of the major regulations impacting crude oil imports. This policy seeks to encourage the development of sources of renewable energy and lessen the country's reliance on foreign crude oil.
  • By upholding environmental rules and regulations, the Environmental Protection Agency (EPA) is instrumental in controlling the crude oil sector. These rules address several topics, such as greenhouse gas emissions, air and water pollution, and how to handle and dispose of hazardous items.
  • Handling climate change and lowering greenhouse gas emissions have become more and more important in recent years. The Biden administration has put forth policies to facilitate the shift to clean energy sources, including stronger emissions rules for the crude oil and gas sector and tax breaks for renewable energy projects.
Conclusion

In conclusion, US crude oil imports are essential to maintaining a robust and steady supply of energy for the country. Its national needs are met by crude oil imports, even though it is a big crude oil producer. Policymakers may make informed decisions to guarantee the security of energy and prosperity in the years to come by understanding the factors influencing US crude oil imports and how they affect the crude oil import market.

Get access to 2000+ active and verified crude oil importers in the US with the help of TradeImeX and its live search feature. To get data on the top US crude oil importers and buyers, contact us at info@tradeimex.in

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