1,000-Word Charts: U.S. Oil Imports

Due to its complexity, much of the subject matter concerning the economy requires detailed editorial commentary, often supported by relevant tables and graphs.

At the same time, though, there are many topics (e.g., relating to demographics, housing starts, etc.) that cry out for compelling ‘shorthand’ visualizations.

Whichever path is followed, the point of the journey, almost always, is to reach a bottom line or two.

To provide additional value, ConstructConnect is now pleased to offer an ongoing series of 1,000-word charts.

These will help readers sort out the ‘big picture’ more clearly.

These 1,000-word charts look at U.S. oil imports as of April 2021.

Graph 1: 12 of the Top Suppliers of U.S. Oil Imports
Year to Date (YTD) April, 2021

Canada's share of U.S. total oil imports through April 2021 was 64.6% (i.e., nearly two-thirds).

* OPEC nations.

Data source: Bureau of Economic Analysis (BEA).
Chart: ConstructConnect.

Graph 2: Foreign Sources of U.S. Imported Oil
% of Total Barrels – Jan-Apr 2021

Jan-Feb 2021 vs Jan-Feb 2020 barrels from: Canada -7.6%.

* Asterisk indicates country among OPEC members. Ecuador left OPEC in January 2020.

Data source: Census Bureau & Bureau of Economic Analysis (BEA).
Chart: ConstructConnect.

Graph 3: Shares of U.S. Total Oil Imports (Barrels)
Sourced from Canada and Mexico

In the early years of this century, through 2005, Canada and Mexico accounted for about the same share of total U.S. oil imports, around 15% each. Since the mid-00s, though, Canada's proportion has surged ahead while Mexico's has slipped a little.

Data source: Census Bureau, Bureau of Economic Analysis (BEA) & Energy Information Administration (EIA)
Chart: ConstructConnect.

Graph 4: Shares of U.S. Total Oil Imports (Barrels)
Sourced from Canada and Saudi Arabia

Canada has the advantage of existing pipeline and railroad access to the U.S. marketplace.

Data source: Census Bureau, Bureau of Economic Analysis (BEA) & Energy Information Administration (EIA)
Chart: ConstructConnect.

Please click on the following link to view the latest Foreign Trade charts and tables: CanaData Forecaster Charts & Tables – Foreign Trade

Alex Carrick is Chief Economist for ConstructConnect. He has delivered presentations throughout North America on the U.S., Canadian and world construction outlooks. Mr. Carrick has been with the company since 1985. Links to his numerous articles are featured on Twitter @ConstructConnx, which has 50,000 followers.