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The US Imports Oil from These Countries

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Nov. 20 2020, Updated 3:58 p.m. ET

US oil imports

The US imported ~3.6 billion barrels of crude oil and petroleum products in 2018. Total imports fell ~2% from 2017. Roughly 43% of the US crude oil and petroleum products imports in 2018 came from Canada. Saudi Arabia and Mexico accounted for 9% and 7% of the imports, respectively. Roughly 6% of the imports came from Venezuela, and 5% came from Iraq.

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These top five countries together accounted for 71% of the US crude oil and petroleum product imports in 2018. Russia accounted for 4% of the 2018 imports. Petroleum products include HGLs (hydrocarbon gas liquids), gasoline, diesel fuel, as well as biofuels including ethanol and biodiesel. Crude oil formed 78% of the total petroleum imports in 2018, with other petroleum products accounting for the remaining 22%.

The United States Oil Fund (USO) tracks the daily price movements of West Texas Intermediate crude oil. It has a management fee of 0.45% and a total expense ratio of 0.73%. The ETF has risen ~32% in 2019. For the latest coverage on energy sector stocks, check out Market Realist’s Energy and Power page.

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