Dark Markets and Oil Prices
Energy Information Administration 2009 Energy Conference
and Short-Term Energy Prices
Despite Excess Spare Capacity, Reduced Demand
h g Hi , g , and Increased OPEC Production volumes
High Prices Persist…
International | |
|---|---|
| Total World Oil Production | 84,365,095 barrels/day |
| Total World Petroleum Consumption | 84,249,000 barrels/day |
| Retail Gasoline Price in Selected Countries (2009) (regular unleaded, $/gallon) | |
| $4.85 $3.79 $3.14 $2.35 $3.26 $2.12 |
Petroleum Statistics
(2009 data except where noted)
Supply | |
|---|---|
| U.S. Petroleum Production (crude oil, NGPL, and other oils) | 7,270,000 barrels/day |
| U.S. Crude Oil Production | 5,361,000 barrels/day |
| U.S. Crude Oil Imports | 9,013,000 barrels/day |
| U.S. Petroleum Product Imports | 2,678,000 barrels/day |
| U.S. Net Petroleum Imports | 9,667,000 barrels/day |
| Dependence on Net Petroleum Imports | 52% |
| Top U.S. Crude Oil Supplier | Canada — 1,943,000 barrels/day |
| Top U.S. Total Petroleum Supplier | Canada — 2,479,000 barrels/day |
| U.S. Crude Oil Imports from OPEC | 5,954,000 barrels/day |
| U.S. Petroleum Product Imports from OPEC | 421,000 barrels/day |
| State Ranking of Crude Oil Production | Texas — 1,106,000 barrels/day |
| Top U.S. Producing Companies, p. 6 | BP PLC — 271.4 million barrels (2008) |
| Top U.S. Oil Fields by Production, Appendix B, Table B1 | Prudhoe Bay, AK (2008) |
| Top Oil Producing Country | #1 — Russia (9,934,000 barrels/day) |
| Top Oil Consuming Country | #1 — United States (18,771,000 barrels/day) |
Consumption and Disposition | |
| U.S. Petroleum Consumption | 18,771,000 barrels/day |
| U.S. Motor Gasoline Consumption | 8,997,000 barrels/day (378 million gallons/day) |
| Share of U.S. Oil Consumption for Transportation | 72% |
| U.S. Total Petroleum Exports | 2,024,000 barrels/day |
Prices | |
| Crude Oil Domestic First Price (wellhead price) | $56.35/barrel |
| Motor Gasoline Retail Prices (U.S. City Average) | $2.40/gallon |
| Regular Grade Motor Gasoline Retail Prices (U.S. City Average) | $3.25/gallon |
| Premium Motor Gasoline Retail Prices (U.S. City Average) | $2.61/gallon |
| Federal Motor Gasoline Tax | 18.4 cents/gallon |
| U.S. Average Home Heating Oil Price | $2.39/gallon (excluding taxes) |
Refining and Reserves | |
| Number of U.S. Operable Petroleum Refineries | 148 |
| U.S. Refiners Ranked Capacity (1/1/2009) | #1 — Baytown, Texas (ExxonMobil) 560,640 barrels/day |
| Top U.S. Petroleum Refining States | #1 — Texas 4,681,519 barrels/day |
| U.S. Proved Reserves of Crude Oil as of December 31, 2008 | 19,121 million barrels |
| U.S. Strategic Petroleum Reserve | 727 million barrels (2009) |
International | |
| Total World Oil Production | 84,365,095 barrels/day |
| Total World Petroleum Consumption | 84,249,000 barrels/day |
| Retail Gasoline Price in Selected Countries (2009) (regular unleaded, $/gallon) | |
| $4.85 $3.79 $3.14 $2.35 $3.26 $2.12 |
Measures | |
| Gallons of Oil per Barrel | 42 |
| Barrels of Oil per Metric Ton (U.S.) | 7.33 |
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