In part 3 of this series on the impact of US tight oil, we look at US crude oil imports from Non-OPEC countries. Excluding Canada – which is a special case due to its integration into the North American oil market – these imports peaked in 2002, long before the tight oil boom started. (1) Introduction: US oil imports from Non-OPEC countries The following graph shows an overview on US oil imports (crude + products) since 1960 Fig 1: US oil imports from Non-OPEC countries Data are from the EIA Monthly Energy Review (table 3.3d Petroleum Trade). They start in 1960. http://www.eia.gov/totalenergy/data/monthly/#petroleum Imports peaked in 2005/06. The subsequent decline until 2010 was caused by high oil prices and the financial crisis. 22/7/2013 US oil demand peak was in 2007 http://crudeoilpeak.info/us-oil-demand-peak-was-in-2007 The speed of the decline was similar to the period following the 1 st oil crisis. The tight oil […]