U.S. Crude Oil Net Imports in 2025 to Hit Lowest Level Since 1971

SEATTLE (Oil Monster): According to the latest research report published by the U.S. Energy Information Administration (EIA), the yearly crude oil net imports by the country next year is forecat to touch the least levels since 1971. This will be mainly on account of rising domestic crude oil production and falling U.S. refinery runs.

In its December Short Term Energy Outlook (STEO) report, EIA noted that net imports of crude oil into the U.S. is expected to fall to 1.9 million barrels per day in 2025. This is significantly down when matched with net imports of 2.5 million barrels per day during the current year.

The STEO predicts the U.S. crude oil net imports at 1.89 million barrels per day in 2025. This compares with 2.46 million barrels per day this year and 2.41 million barrels per day in 2023, the report said.

Meanwhile, the total U.S. crude oil production is predicted to increase by 0.3 million barrels per day next year. The U.S. oil refineries are likely to process a total of 16 million barrels per day, down by 0.2 million barrels per day of crude oil this year.

The U.S. crude oil production will average at 13.52 million barrels per day in 2025 and 13.24 million barrels per day in 2024. The production had averaged at 12.93 million barrels per day last year.

YOU MAY ALSO BE INTERESTED IN:

U.S. EIA Slashed Oil Demand Forecasts for 2025

EIA Lifted Henry Hub Natural Gas Price Forecasts