Petroleum Imports Below $200 Billion, Lowest Point in Over a Decade

Petroleum exports were rising in 2015 and petroleum imports held fairly steady at just over 9 million barrels per day, but the value of those imports and exports was significantly lower than the previous year. The falling cost of a barrel of oil in 2015 has caused the value of petroleum imports to be less than $200 billion (in constant 2015 dollars) for the first time since 2003. Exports grew 14% by volume from 2014 to 2015 while declining 31% by value in the same period.