The crude oil import dependency stood at 95.2% in 2021, registering two second consecutive year of decline.
SEATTLE (Oil Monster): The oil import dependency for crude oil and petroleum products registered sharp decline to 91.67% in 2021. This is upon comparison with the import dependency which had reached a record high of 96.78% in 2020. The figure for 2021 is the second lowest since 1990, after the record minimum of 91.66% in 1999.
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The net imports registered marginal decline by 0.3% in 2021. The imports and exports rose by 3.4% and 9.2% respectively. Also, the gross available energy surged higher by 5.3% during the year. Meantime, primary production registered a change of -5.7%, but with a lesser influence on the indicator. The dip in dependency was also on account of the use of 20.4 Mtoe of oil stocks.
The crude oil import dependency stood at 95.2% in 2021, registering two second consecutive year of decline. The net crude oil imports increased by 1.6%, while the gross available energy too were up by 2.5% during the year. The primary crude oil production and exports were down significantly by 6.1% and 11.6% respectively. The crude oil stocks’ use of 4.9 Mtoe also contributed to the dip in dependency.
In 2021, the EU crude oil production dropped significantly by 6% year-on-year, to total 17.5 million tonnes (Mt). The topmost three crude oil producers in 2021 were Italy, Denmark and Romania
United States Crude Oil Prices | |||
---|---|---|---|
COMMODITY | PRICE | CHANGE | |
Alabama Heavy Asphaltic Sour | 64.94 | -1.73 | |
Alabama Light Sour | 72.16 | -1.92 | |
Alabama Light Sour Womack Hill Type | 55.28 | +5.30 | |
Alabama Light Sweet | 77.16 | -1.92 | |
Alabama/ Florida Panhandle | 72.22 | 0.00 |
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