[Reminder @ 2021] How much oil does the US import from Russia? [In 2021 Russia become the second-largest exporter of oil to the US, while exports overall reached record high]

as.com ^ | 22 February 2022 | William Gittins

[daniel1212]

In spring 2021 imports of Russian oil to the United States [reached] their highest level in a decade. .. [Russia] became the second-largest exporter of oil to the US later that year ...

Across 2021 the US imported between 12 million as 26 million barrels of crude oil and petroleum from Russia every month. In November 2021, the most recent figures on record, the Energy Information Agency reports that the US took 17.8 million barrels... There will be a "major economic shock to the system" if oil prices continue to rise @AngusBlair1 tells CNBCs @_HadleyGamble

[daniel1212]

Excerpt. Also, even in 2020:

Russia’s exports of petroleum products to the United States more than doubled in the first half of 2020 compared to the same period last year, reaching their highest levels since at least 2004. ussia’s oil products exports to the U.S. jumped to 9.1 million tons between January and June 2020, up from 4 million tons for the same period in 2019.

The U.S. was Russia’s second-largest buyer of oil products – accounting for 12 percent of Russia’s petroleum products exports..The U.S. has been raising its imports of fuel oil from Russia over the past year and a half after the U.S. imposed sanctions on Venezuela’s exports. - https://oilprice.com/Latest-Energy-News/World-News/Russias-Oil-Product-Exports-To-The-US-Jump-To-16-Year-High.html

in 2020 Russia produced 10.1 million barrels per day (BPD) of crude oil and natural gas condensate. That was good for second place behind the U.S. at 11.3 million BPD...

However, the U.S. also consumes far more oil (17.2 million BPD) than Russia (3.2 million BPD) or Saudi Arabia (3.5 million BPD). The net result is that the U.S. is a net importer of crude oil, while Russia and Saudi Arabia are major crude oil exporters.

As of late 2021,.. Canada was our top supplier, sending the U.S. 4.5 million BPD. (Having secure oil supplies from close allies highlights the importance of the Keystone XL Pipeline expansion). - https://www.forbes.com/sites/rrapier/2022/02/21/russia-is-a-major-supplier-of-oil-to-the-us/?sh=72862aca18c3

Meanwhile, as regards Russia Exports to United States:

Exports to United States CMLV in Russia averaged 5930.21 USD Million from 2006 until 2021, reaching an all time high of 17537.80 USD Million in December of 2021 and a record low of 444.30 USD Million in January of 2007.

https://tradingeconomics.com/russia/exports-to-united-states

[Sacajaweau]

I believe it goes to our refineries and we resell it.

[George from New England]

So Putin can crush biden.
ha ha

[Blood of Tyrants]

Oil is fungible. It’s like putting all the oil in one big reservoir and the buyers taking out what they need. We may not buy directly from Russia, but someone wilL.

[daniel1212]

April 15, 2021 Treasury Sanctions Russia with Sweeping New Sanctions Authority WASHINGTON — Today, the U.S. Department of the Treasury took multiple sanctions actions under a new Executive Order (E.O.) targeting aggressive and harmful activities by the Government of the Russian Federation. - https://home.treasury.gov/news/press-releases/jy0127

It does not sound like much of a sanction to me.

[bankwalker]

how different are Brent and WTI? Are they interchangeable?

[monkeyshine]

I don’t know if Putin can “crush” Biden nor do I want him to. But surely this is one of the major issues. Biden crushed the North American sector and gave that advantage to Russia.

As a nation we should prioritize national security issues - energy, agriculture and farming, military defense, and border security among them - but this administration seems hell bent on damaging all four either by design or sheer incompetence and virtue signalling to their base.

[monkeyshine]

No expert here, but I know that they are not exactly interchangeable. You get more yield from one than the other. Someone else here will surely know better but perhaps the refining process requires different calibration/tuning or entirely different facilities depending on the grade.

[Drew68]

So Putin can crush biden.

Which is why Jen Psaki is today reminding us that "protecting American values" comes with a price.

[bankwalker]

if that’s true they’re probably not exactly fungible I would guess ...

[Blood of Tyrants]

Not really. Brent is one of the highest grades of crude (I think). From what I have gathered, the “lighter” crude oils are easier to crack and make fuel from. I have no idea what the crude from Russia is.

[monkeyshine]

They’re probably fungible to some degree. Surely there are expert freepers who know better than I. But when I think of fungible oil isn’t the first thing that comes to mind. It takes a lot of effort and cost to move it around.

[Blood of Tyrants]

https://oilprice.com/oil-price-charts/45

[Mister Da]

Perhaps Russia will sanction the USA with a cutoff of oil.