Oil has become a vital part of modern life, with the United States of America being one of the largest consumers of oil in the world. The US oil imports by country in 2021, therefore, is an important topic to explore. In 2021, the US imported 15.1 million barrels of crude oil per day, with Canada being the largest exporter, followed by Saudi Arabia, Mexico, and Venezuela.
Canada
The US imported 3.9 million barrels of crude oil per day from Canada in 2021. This makes Canada the largest exporter of oil to the US, with a market share of 26%. Canada has the third-largest oil reserves in the world, and its oil is considered to be of a high-quality, making it a preferred choice for US customers. Canada is a major supplier of oil to the US, as it is located close to the US border, which makes it a convenient option for transportation.
Saudi Arabia
The US imported 1.9 million barrels of crude oil per day from Saudi Arabia in 2021. The total market share of Saudi Arabia is 13%. Saudi Arabia is the world’s largest exporter of oil, and its reserves are estimated to be around 266 billion barrels. Saudi Arabia’s oil production is heavily subsidized by the government, making it a cost-effective option for US customers.
Mexico
The US imported 1.6 million barrels of crude oil per day from Mexico in 2021. The total market share of Mexico was 11%. Mexico is the seventh-largest exporter of oil in the world, and its reserves are estimated to be around 10 billion barrels. The proximity of Mexico to the US makes it a convenient option for transportation.
Venezuela
The US imported 1.4 million barrels of crude oil per day from Venezuela in 2021. The total market share of Venezuela was 9%. Venezuela is the twelfth-largest exporter of oil in the world, and its reserves are estimated to be around 300 billion barrels. The government of Venezuela heavily subsidizes its oil production, making it an attractive option for US customers.
Iraq
The US imported 1.1 million barrels of crude oil per day from Iraq in 2021. The total market share of Iraq was 7%. Iraq is the fifth-largest exporter of oil in the world, and its reserves are estimated to be around 143 billion barrels. Iraq is located close to the US, making it a convenient option for transportation.
Angola
The US imported 0.7 million barrels of crude oil per day from Angola in 2021. The total market share of Angola was 5%. Angola is the tenth-largest exporter of oil in the world, and its reserves are estimated to be around 13 billion barrels. Angola is located close to the US, making it a convenient option for transportation.
Kuwait
The US imported 0.5 million barrels of crude oil per day from Kuwait in 2021. The total market share of Kuwait was 4%. Kuwait is the sixth-largest exporter of oil in the world, and its reserves are estimated to be around 104 billion barrels. Kuwait is located close to the US, making it a convenient option for transportation.
United Arab Emirates
The US imported 0.5 million barrels of crude oil per day from the United Arab Emirates in 2021. The total market share of the United Arab Emirates was 3%. The United Arab Emirates is the fourth-largest exporter of oil in the world, and its reserves are estimated to be around 97 billion barrels. The United Arab Emirates is located close to the US, making it a convenient option for transportation.
Conclusion
In 2021, the US imported 15.1 million barrels of crude oil per day from various countries. The largest exporter was Canada, with a market share of 26%, followed by Saudi Arabia (13%), Mexico (11%), and Venezuela (9%). The other major exporters of oil to the US were Iraq (7%), Angola (5%), Kuwait (4%), and the United Arab Emirates (3%). All of these countries are located close to the US, making them a convenient option for transportation.