Oil Imports

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In the mist of an energy production boom in the US, the amount of oil imported from foreign countries in 2014 fell to 27% (the lowest level since 1985). Over the past decade or so, the US as also been importing less oil from the Middle East region and increasing its imports from the Western Hemisphere (40% from Canada, 10% from Mexico, 10% from Venezuela). In fact, Canada accounts for 3.5 times the oil imports of Saudi Arabia to the US (3,401 thousand barrels per day compared to 983 thousand barrels per day).

Across the Pacific, China is increasing its reliance on Middle East oil — and presumably, as a result, increasing its presence in the region. In fact, in a recent New York Times article it was announced that China will be establishing its first overseas military output in Djibouti. The East African nation sits at the entrance point of the Red Sea — the waterway boarding Saudi Arabia to the east. As shown in the figure below, China now receives the majority (51.2%) of its oil imports from the Middle East and by 2035 imports from the region are expected to double. China oil imports.png


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