US crude imports from Non-OPEC countries peaked 10 years before tight oil boom.
In part 3 of this series on the impact of US tight oil, we look at US crude oil imports from Non-OPEC countries. Excluding Canada – which is a special case due to its integration into the North American oil market – these imports peaked in 2002, long before the tight oil boom started.
(1) Introduction: US oil imports from Non-OPEC countries
The following graph shows an overview on US oil imports (crude + products) since 1960
Fig 1: US oil imports from Non-OPEC countries
Data are from the EIA Monthly Energy Review (table 3.3d Petroleum Trade). They start in 1960.
http://www.eia.gov/totalenergy/data/monthly/#petroleum
Imports peaked in 2005/06. The subsequent decline until 2010 was caused by high oil prices and the financial crisis.
22/7/2013 US oil demand peak was in 2007
http://crudeoilpeak.info/us-oil-demand-peak-was-in-2007
The speed of the decline was similar to the period following the 1st oil crisis. The tight oil boom started in 2010/11, causing a further decrease of around 750 kb/d.
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