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Oil and petroleum products explained  

Crude oil and petroleum statistics

Data for the United States for 2022, unless otherwise indicated. Units are in barrels per day (b/d), except where noted. Prices are nominal prices.

Petroleum production (crude oil, natural gas liquids, renewable fuels, and processing gain) 20,078,900 b/d
Crude oil production 11,910,622 b/d
U.S. crude oil imports 6,281,296 b/d
Petroleum product imports 2,047,526 b/d
Net crude oil and petroleum product imports -1,191,009 b/d
Dependence on net petroleum imports (net imports as share of products supplied) -6.0%
Top crude oil import source Canada—3,798,000 b/d
Top total petroleum import source Canada—4,365,000 b/d
Crude oil imports from OPEC 979,000, b/d
Petroleum product imports from OPEC 275,000 b/d
Top crude oil producing state Texas—5,060,000 b/d
Consumption and disposition
Petroleum consumption (product supplied) 20,010,000 b/d
Motor gasoline consumption 8,810,000 b/d (370.020 million gallons/day)
Transportation sector share of total petroleum consumption 68%
Total petroleum exports 9,520,000 b/d
Prices (nominal)
Domestic crude oil first purchase price (wellhead price) $93.97/barrel
Refiner acquisition cost of crude oil (composite) $95.29/barrel
Motor gasoline retail price (all grades average) $4.059/gallon
Regular grade motor gasoline retail price $3.951/gallon
Premium grade motor gasoline retail price $4.744/gallon
Federal tax on motor gasoline 18.4 cents/gallon
Average state taxes and fees on motor gasoline 32.26 cents/gallon (as of July 1, 2023)
Federal tax for on-highway diesel fuel 24.40 cents/gallon
Average state fuel taxes and fees for on-highway diesel fuel 34.20 cents/gallon (as of July 1, 2023)
Refining and reserves
Number of operable petroleum refineries (as of January 1, 2023) 129
Largest refinery in distillation capacity (as of January 1, 2023) Port Arthur, Texas—Motiva Enterprises LLC
626,000 b/d
Top petroleum refining state (as of January 1, 2023) Texas—5,975,969 b/d
Proved reserves of crude oil (as of December 31, 2021) 41,151,000,000 (41.15 billion) barrels
Total crude oil stocks (as of December 31, 2022) 802,132,000 barrels
World total petroleum production (2022) 97,698,105 b/d
World total petroleum consumption (2021) 97,264,198 b/d
Gallons (U.S.) of oil per barrel 42

Last updated: October 2, 2023, with most recent data available.