Petroleum Net Imports as a Share of U.S. Consumption in 2017 was at the Lowest Level Since 1967

The share of petroleum net imports to U.S. petroleum consumption in 2017 was 18.9% -- the lowest level since 1967. Net imports are calculated as total imports minus exports. The share of total petroleum imports relative to all U.S. petroleum consumption in 2017 was 50.8%. The two data series (net imports and total imports) have been moving in tandem for several decades, but in recent years have uncoupled due to a rise in petroleum exports. Increased crude oil production and the lifting of a crude oil export ban have contributed to the rise in exports.