USA exported 30% of the energy it produced in 2024

The US set multiple records for energy production and exports in 2024. Of the record 103 quadrillion Btu (quads) of total primary energy production in the US, a record 31 quads went to other countries. The energy production that is not exported is not necessarily equivalent to domestic consumption because domestic consumption also includes energy imports and withdrawals from storage.

In the Monthly Energy Review, EIA converts different measurements for different sources of energy to one common unit of heat, called a Btu. The EIA use Btu to compare different types of energy that are not usually directly comparable, such as barrels of crude oil and cubic feet of natural gas.

In 2024, the US exported 55% of its domestic crude oil and natural gas plant liquids (NGPL) production either directly as crude oil or as processed petroleum products such as propane, distillate fuel oil, and motor gasoline. During the past decade, US crude oil and NGPL production as well as crude oil and petroleum products exports grew rapidly, outpacing modest domestic petroleum demand growth and declining US imports.

Most of the petroleum exports growth went to countries in Europe and Asia, which was facilitated by several factors:

• The US removed restrictions on crude oil exports in 2016.
• Domestic exporting infrastructure expanded as global demand increased.
• Europe banned seaborne crude oil imports from Russia in 2022.

In 2024, the US exported about 20% of its dry natural gas production. During the past decade, US natural gas production and exports grew faster than domestic demand and imports. Most of the exports growth during the past decade went to countries in Europe and Asia, in part because of expanded domestic LNG export capacity and increased European demand following Russia’s invasion of Ukraine in 2022, which reduced natural gas shipped to Europe from Russia.

In 2024, Mexico was the top destination for US exports of both crude oil and petroleum products as well as natural gas. India was the top destination for US coal exports. With its large storage and regional trading hub located in Rotterdam, the Netherlands was a top five destination for US petroleum, natural gas, and coal in 2024, but those exports may later be sent to other countries in and around Europe.

Read the article online at: https://www.hydrocarbonengineering.com/refining/14082025/usa-exported-30-of-the-energy-it-produced-in-2024/