Monday, October 23, 2017

Saudi Arabia: Second-largest petroleum exporter to the United States after Canada

Saudi Arabia – the largest exporter of total petroleum liquids – exported an average of 1.1 million b/d of total petroleum liquids to the United States in 2016, according to data released by the US Energy Information Administration, EIA.

”In the first half of 2017, U.S. total petroleum liquid imports averaged slightly higher at 1.2 million b/d. Since 2012, Saudi Arabia has been the second-largest petroleum exporter annually (after Canada) to the United States, when it surpassed U.S. imports from Mexico,” the EIA said in its Saudi Arabia County Analysis.

”In 2016, after the United States, the next four top importers of Saudi crude and petroleum products were Japan (1.2 million b/d), China (1.0 million b/d), South Korea (0.9 million b/d), and India (0.8 million b/d), according to Global Trade Tracker, GTT.

Saudi Arabia has 16 percent of the world’s proved oil reserves, is the largest exporter of total petroleum liquids in the world, and maintains the world’s largest crude oil production capacity at roughly 12 million barrels per day.

In 2016, Saudi Arabia was the largest exporter of total petroleum liquids (crude oil and petroleum products), with exports mostly destined to Asian and European markets. During that same year, Saudi Arabia was the world’s second-largest petroleum liquids producer behind the United States and was the world’s second-largest crude oil and lease condensate producer behind Russia. During the first half of 2017, Saudi Arabia has maintained this position, despite lower production than in the previous year.

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