US Sets Crude Oil Exports set Record in 2022

According to the US Energy Information Administration (EIA), the United States exported a record 3.6 million barrels of crude oil per day in 2022, a 22 percent increase from 2021. According to the EIA:

“Since early 2022, trade patterns have shifted because of Russia’s full-scale invasion of Ukraine and the ensuing Western sanctions of Russia’s crude oil exports. Prior to 2022, OECD Europe had been the largest regional importer of Russia’s crude oil, receiving 2.3 million b/d from Russia in 2021.

Less crude oil was exported to India and China from the United States in 2022 than in 2021 because the two countries imported more discounted crude oil from Russia. India was the largest export destination of U.S. crude oil exports in 2021; China had been in 2020. Decreased demand for U.S. crude oil exports to India and China was more than offset by increased demand from other destinations, particularly in Europe.”

Wendell Cox is principal of Demographia, an international public policy firm located in the St. Louis metropolitan area. He is a founding senior fellow at the Urban Reform Institute, Houston, a Senior Fellow with the Frontier Centre for Public Policy in Winnipeg and a member of the Advisory Board of the Center for Demographics and Policy at Chapman University in Orange, California. He has served as a visiting professor at the Conservatoire National des Arts et Metiers in Paris. His principal interests are economics, poverty alleviation, demographics, urban policy and transport. He is co-author of the annual Demographia International Housing Affordability Survey and author of Demographia World Urban Areas.

Mayor Tom Bradley appointed him to three terms on the Los Angeles County Transportation Commission (1977-1985) and Speaker of the House Newt Gingrich appointed him to the Amtrak Reform Council, to complete the unexpired term of New Jersey Governor Christine Todd Whitman (1999-2002). He is author of War on the Dream: How Anti-Sprawl Policy Threatens the Quality of Life and Toward More Prosperous Cities: A Framing Essay on Urban Areas, Transport, Planning and the Dimensions of Sustainability.