The U.S. is exporting more petroleum than it imports, with net exports hitting about 1.19 million barrels per day (b/d) in 2022, according to the latest annual figures from the Energy Information Administration (EIA). Crude oil exports alone were around 3.58 million b/d, while imports sat at 6.28 million b/d—meaning the U.S. still brings in a lot of crude but offsets it with hefty exports of both crude and refined products like gasoline and diesel, totaling 9.52 million b/d in 2022. Fast forward to early 2025, and weekly data suggests crude exports are hovering around 3.29 million b/d (for the week of March 7), with net imports at a negative 2.08 million b/d—still a net exporter, though the balance fluctuates.

U.S. production has soared, hitting record highs above 13 million b/d recently, outpacing even Saudi Arabia and Russia. The lifting of the crude export ban in 2015 opened the floodgates, and now places like the Port of Corpus Christi are shipping out over 2 million b/d. Geopolitics plays a role too—sanctions on Russia and Venezuela have boosted demand for U.S. oil, especially in Europe, which took 1.8 million b/d in 2023.