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US crude imports from Non-OPEC countries peaked 10 years before tight oil boom

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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