Does US exports more oil than it imports ?
- Anonymous2 months ago
WRONG FORUM. You should have asked here: https://answers.yahoo.com/dir/index?sid=396545303
Google has existed for 19 years. You should learn to use it to search for answers yourself. This took all of six seconds to find: https://www.eia.gov/energyexplained/oil-and-petrol...
- KY-ClayLv 72 months ago
Yes, the U.S. exports way more oil than it imports. Most of the imported oil comes from Canada. According to the U.S. Department of Energy, latest data (November 2019) has the U.S. exporting around 750,000 b/d more than it imported.
- Obi Wan KnievelLv 72 months ago
No, but yes. Kind of.
The USA is a major oil producer, one of the biggest in the world, but it still imports crude oil. That's because crude oil, as valuable as it is, isn't worth a whole lot on its own. It has to be refined and processed in order to really have value, and the USA specializes in said refining and processing.
The USA produces and imports crude oil, then turns it into the extremely powerful (and profitable) fuel known as gasoline. And that is what they export, because nobody can turn raw oil into high-quality gasoline like the Americans.