Oil

U.S. imports of Oil increased 31 percent through December to $132.94 billion

U.S. imports of Oil increased 31 percent from $101.85 billion to $132.94 billion in 2017 when compared to the same period the previous year, according to WorldCity analysis of the latest U.S. Census Bureau data.

The category ranked No. 2 through December among the roughly 1,265 import commodity groupings as classified by Census. It ranked No. 3 for the last full year, with a total value of $101.85 billion, a $24.23 billion, 19 percent decrease over the 2015 total.

Through December of this year, the top five sources of U.S. imports in this category were No. 1 Canada, No. 2 Saudi Arabia, No. 3 Iraq, No. 4 Venezuela and No. 5 Mexico. The top five Customs districts from which the imports entered the U.S. through December were No. 1 Chicago, No. 2 Houston, No. 3 New Orleans, No. 4 Philadelphia and No. 5 Port Arthur, Texas.

In the last previous full year, the top five markets for U.S. imports of Oil were No. 1 Canada, No. 2 Saudi Arabia, No. 3 Venezuela, No. 4 Mexico and No. 5 Colombia. In the same time period, the top five Customs districts for imports were No. 1 Houston, No. 2 New Orleans, No. 3 Chicago, No. 4 Philadelphia and No. 5 Port Arthur, Texas.

January – December 2017

Top Countries

Rank Country Total YTD
1 Canada $50,121,825,572
2 Saudi Arabia $17,482,702,788
3 Iraq $10,686,740,554
4 Venezuela $10,434,512,651
5 Mexico $9,780,320,764
6 Colombia $6,471,981,769
7 Nigeria $6,313,145,416
8 Ecuador $3,893,598,009
9 Brazil $3,709,532,993
10 Kuwait $2,724,198,880

January – December 2017

Top Districts

Rank District Total YTD
1 Chicago $19,804,714,396
2 Houston $18,419,763,006
3 New Orleans $15,328,768,413
4 Philadelphia $12,615,686,416
5 Port Arthur, Texas $11,500,188,292
6 Los Angeles $10,268,743,251
7 San Francisco $7,478,908,945
8 Great Falls, Mont. $5,216,250,836
9 Minneapolis $4,885,392,820
10 Mobile $4,499,509,641

Highlights for the top five foreign markets:

  • U.S. imports from No. 1 Canada increased $13.93 billion, 38.5 percent. Of the total, 37.7 percent arrived from Canada.
  • U.S. imports from No. 2 Saudi Arabia increased $1.89 billion, 12.15 percent. Of the total, 13.15 percent arrived from Saudi Arabia.
  • U.S. imports from No. 3 Iraq increased $4.79 billion, 81.24 percent. Of the total, 8.04 percent arrived from Iraq.
  • U.S. imports from No. 4 Venezuela increased $1.12 billion, 12.03 percent. Of the total, 7.85 percent arrived from Venezuela.
  • U.S. imports from No. 5 Mexico increased $2.2 billion, 28.98 percent. Of the total, 7.36 percent arrived from Mexico.

All totaled, 74 percent of all these Oil imports to the United States were shipped from the top five markets through December of this year. That is equal to $98.51 billion of the $132.94 billion total.

Highlights for the top five Customs districts:

  • US imports to No. 1 Chicago increased $5.58 billion, 39.22 percent. Of the total, 14.9 percent shipped to Chicago.
  • US imports to No. 2 Houston increased $2.38 billion, 14.85 percent. Of the total, 13.86 percent shipped to Houston.
  • US imports to No. 3 New Orleans increased $525.12 million, 3.55 percent. Of the total, 11.53 percent shipped to New Orleans.
  • US imports to No. 4 Philadelphia increased $3.7 billion, 41.56 percent. Of the total, 9.49 percent shipped to Philadelphia.
  • US imports to No. 5 Port Arthur, Texas increased $3.12 billion, 37.22 percent. Of the total, 8.65 percent shipped to Port Arthur, Texas.

All totaled 58 percent of all these Oil imports to the United States entered at the top five Customs districts through December of this year. That is equal to $77.67 billion of the $132.94 billion total.