U.S. imports smaller fraction of oil

United States' oil consumption was 20.6 million barrels per day in the fourth quarter. The next largest oil consumer was China with 15.2 Mb/d.

More than one-third of the worldwide supply came from OPEC nations. The U.S. produced 18.6 Mb/d. Russia was the third-largest oil supplier with 11.2 Mb/d.

Since 2005, U.S. petroleum production has increased, reaching 18.4 Mb/d in 2020, more than double 2005's 8.7 Mb/d. During that span, the portion that the country imported has declined, and in 2020 the U.S. was a net exporter of petroleum products.

Broken out by product type, U.S. crude oil imports fell to 2.7 Mb/d in 2020, down from 2015's 10.1 Mb/d. The U.S. became a net exporter of refined products and hydrocarbon gas liquids.