The United States Also Exports Some Oil

Because the United States is the world's largest oil importer, it may seem surprising that it also exported about 3 million barrels a day of oil in 2011, almost all of it in the form of refined petroleum products. Due to various logistical, regulatory, and quality considerations, it turns out that exporting some barrels and replacing them with additional imports is the most economic way to meet the market's needs. For example, refiners in the U.S. Gulf Coast region frequently find that it makes economic sense to export some of their gasoline to Mexico rather than shipping the product to the U.S. East Coast because lower-cost gasoline imports are available from Europe.