OPEC oil imports into US declining

Submitted by Howard Marks (United States), Feb 19, 2013 at 09:24

In regard to OPEC, imports from Saudi Arabia in 2011 were 1.19 million barrels per day (bpd), according to the Department of Energy. The last time imports from Saudi Arabia were that low was 1988-89 when they ranged between 1.07 million bpd and 1.22 million bpd. Imports from Canada in 2011 have climbed steadily from 1 million bpd in the late '80s to 2.71 million bpd in 2011. Even Mexico's imports last year (1.20 million bpd) exceeded Saudi Arabia's 1.19 million bpd. In addition to Canada, Mexico, and Russia, the U.S. imported 2.29 million bpd from other non-OPEC countries.

In other words, of the 11.36 million barrels per day imported in 2011, we imported 6.82 million bpd (60 percent) from non-OPEC countries, and 4.53 million bpd (40 percent) from OPEC in 2011.

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