Tuesday, 5 May 2015

Sanctions & Saber Rattling Doesn't Stop The US From Importing Russian Petroleum | Zero Hedge

Sanctions & Saber Rattling Doesn't Stop The US From Importing Russian Petroleum | Zero Hedge



Americans would be quite surprised to know that even with all the U.S. Government sanctions and threats of war with Russia, we still import a significant amount of petroleum from the former communist country.  How much petroleum does the United States import from Russia?  Actually, a lot more when we focus on net imports.
While the U.S. imports more oil from certain countries, we also export finished products in return.  For example in January, the U.S. imported 831,000 barrels per day (bd) of crude oil and petroleum from Mexico, but also exported 787,000 bd of petroleum products for a net import of only 44,000 bd.
So, what amount of net crude oil and petroleum did the U.S. import from Russia during January?  Look at the chart below:
U.S. Non OPEC Net Petroleum Imports JAN 2015 #1
As it turns out, Russia is the U.S. second largest non-OPEC source of net petroleum products in the month of January.  As we can see, Canada is the largest at 2.9 million barrels per day, Russia at 389,000 bd, Columbia 264,000 bd, Chad 93,000 bd and Mexico at 44,000 bd.

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