EIA released a new U.S. Crude Oil Import Tracking Tool that allows policymakers, analysts, and the public to more easily track trends in crude oil imports. Users can sort and display crude oil imports by month or year, by crude type (i.e., light, medium, heavy), country source, port of entry, processing company, processing refinery, and more. The tool features graphing and mapping capabilities and a built-in help function.
Recent and forecast increases in domestic crude production have sparked discussion about how rising crude oil volumes will be absorbed. To date, a primary mechanism for absorbing increased production has been the displacement of imported crude oil, which has fallen from 8.9 million barrels per day (bbl/d) in 2011 to 7.5 million bbl/d in August 2014.
This tool sheds light on the adjustments to imports being made in response to growing production of crude oil within the United States. It is one part of EIA’s ongoing effort to assess the effects of a possible relaxation of current limitations on U.S. crude oil exports, which is another avenue to accommodate domestic production growth. EIA is undertaking further work on this larger question, and expects to issue more analysis reports over the coming months.
Launched on EIA’s beta site to solicit customer feedback, and incorporate that feedback into the final release, the new tool represents EIA’s latest step in making energy data more accessible, understandable, relevant, and responsive to users’ needs. The U.S. Crude Oil Import Tracking Tool can be found at: http://www.eia.gov/beta/petroleum/imports/browser/
Also released a report, EIA’s U.S. Crude Oil Import Tracking Tool: Selected Sample Applications, that provides examples of the application of the new tool. The examples were selected to illustrate the tool’s capabilities to access information from EIA’s monthly Company Level Import database for different time periods, regions, companies, and crude oil qualities. Using the tool yielded the following insights regarding recent trends in U.S. crude oil imports:
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