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The U.S. imported 6.6 million barrels per day (mb/d) of crude oil in 2024, with over 60% classified as heavy crude.
The share of U.S. oil and natural gas production that is exported has been on the rise over the past decade as domestic production increased.
Since 2000, China has accounted for 44% of global oil demand growth, with domestic consumption more than tripling. However, India’s oil demand growth outpaced China’s in both 2022 and 2024.
