The United States is poised to remain a net crude oil importer in 2022 for the second consecutive year, the Energy Information Administration (EIA) stated in a new report. The world’s largest economy is projected to import an annual average of 3.9 million barrels per day this year, according to the February 2022 Short-Term Energy Outlook (STEO) report. They also project that net import volumes will decline to 3.4 million barrels a day in 2023. EIA officials stated that the Unites States returned to importing more petroleum in 2021, adding that these imports could increase this year. Looking ahead, the report stated that the United States could purchase less crude oil than it ships to foreign markets because domestic production is anticipated to climb to 12.6 million barrels a day. The United States has largely been a net crude importer for the last 50 years, with many administrations promising to …
Energy Independent No More? US Poised to Be Net Oil Importer in 2022
February 24, 2022
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