EIA: annual US crude oil exports decrease for first time since 2021

Despite fewer crude oil exports, US crude oil imports decreased by more. Overall, US net imports of crude oil — total imports minus total exports — decreased from 2.5 million bpd in 2024 to 2.2 million bpd in 2025.

Since the early 2010s, US exports of crude oil have increased sharply, driven by increasing US crude oil production, expanding domestic infrastructure, increasing global demand for light, low-sulfur crude oils, and the removal of crude oil export restrictions in 2015. In 2025, the US exported 4 million bpd of crude oil, 85 times as much as in 2011, but slightly less than in 2023 and 2024. Exports declined last year despite a 3% increase in crude oil production to a record 13.6 million bpd. Whereas crude oil exports have generally increased with domestic production in recent years, in 2025, more crude oil production went to US stock builds, particularly the Strategic Petroleum Reserves (SPR), and to domestic refineries.

The top regional destinations for US crude oil exports since 2018 have been Europe as well as the Asia and Oceania region.

Europe became the top export destination in 2023 following the effects of the war in Ukraine and the inclusion of West Texas Intermediate (WTI) crude oil in Dated Brent; exports to Europe increased further in 2024. In 2025, US crude oil exports to Europe decreased by 7%, likely because increased output from OPEC replaced volumes from the US. US exports to the UK decreased more than to any other European country, with exports falling more than 100 000 bpd, or about 35%. Despite declining for the first time since 2021, US crude oil exports to Europe remained above export volumes before the war in Ukraine.

US crude oil exports also decreased to the Asia and Oceania region, especially Singapore and China. Compared with 2024, exports declined by 75% to Singapore and 89% to China. China was the second-largest destination for crude oil exports by volume in 2023, but US exports of crude oil to China have decreased during the last two years.

Although overall crude oil exports to Europe decreased in 2025, the Netherlands imported about 80 000 bpd more US crude oil than in 2024. Similarly, in Asia, India and Japan increased imports of crude oil from the US by about 90 000 bpd and 80 000 bpd, respectively.

In addition, US crude oil exports increased to Nigeria, from about 40 000 bpd in 2024 to about 110 000 bpd in 2025. In January 2024, the 650 000 bpd Dangote refinery in Nigeria began processing crude oil, and in the following month, Nigeria began importing crude oil from the US. The refinery, which reached its designed capacity in February 2026, continued to import more crude oil from the US as it increased refinery throughput.

Read the article online at: https://www.hydrocarbonengineering.com/refining/11032026/eia-annual-us-crude-oil-exports-decrease-for-first-time-since-2021/