Diminishing dependence – Shrinking US oil imports

The US oil market is changing. Rising oil production brought about by the use of hydraulic fracturing to extract liquids from shale and other tight rock formations, and a sizable drop in oil consumption, have contributed to a sharp contraction in US dependence on oil imports to meet its needs.

In 2005 net imports of oil accounted for 60% of US oil demand, but this had fallen to around 36% in the first half of 2013. Also, in 2011 the US became a net exporter of oil products.

This new report from The EIU examines US oil supply and demand trends over the past five years, and discusses the implications for the US and the global oil market.

Download: Diminishing dependence – Shrinking US oil imports

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