where does the united states buy oil from
Petroleum in the United States In 2014, petroleum and natural gas were the two largest sources of energy in the U.S., together providing 63 percent of the energy consumed (oil provided 35 percent and gas 28 percent).[6] In 2008 the United States consumed 19.5 million barrels (3,100,000Â m3) per day of petroleum products, of which 46 percent was gasoline, 20 percent diesel fuel and heating oil, and 10 percent liquefied petroleum gas.[7] In 2015, the U.S. imported 24% of the petroleum it used, the lowest since 1970.[8] The largest sources of U.S. imported oil were: Canada (40%), Saudi Arabia (11%), Venezuela (9%), Mexico (8%), and Colombia (4%).[9]
OPEC OPEC's stated mission is "to coordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets, in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry."[4] The organization is also a significant provider of information about the international oil market. As of May 2017, OPEC's members are Algeria, Angola, Ecuador, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia (the de facto leader), United Arab Emirates, and Venezuela, while Indonesia is a former member. Two-thirds of OPEC's oil production and reserves are in its six Middle Eastern countries that surround the oil-rich Persian Gulf.