Case IH Power Tab

Farm Futures
   Search Site:   Saturday, May 26, 2012 | Bookmark This Site   
Skip Navigation Links
Home
Markets
News
Weather
Farm Futures NOW!
Magazine Online
RSS News
Land For Sale
Mobile
Subscribe
Reprints
Register
Login
About Us
Advertise
 
Share This
 

U.S. Getting More Oil from Africa than Middle East

For the first time in 21 years, the U.S. has imported more oil from Africa than the Middle East.
Compiled by staff 
Published: Feb 22, 2007

The U.S. imported more crude oil from Africa than the Middle East for the first time in 21 years in 2006, according to government data.

U.S. crude imports were down 0.3% in 2006 from the year before, according to Energy Information Administration data - though 2005's import numbers were inflated by hurricanes' disruption of Gulf Coast operations that year.

Africa and the Middle East each accounted for 22% of U.S. crude imports, with Africa leading by a narrow 8,000 barrels a day. The 2.23 million barrels a day from Africa was the most since 1979 and 4.8% more than in 2005. Africa made up less than 13% of U.S. crude imports as recently as 2002.

The growing Asian market, led by an expected 6.2% increase in demand in China, is drawing much of the Middle East's oil.

Canada remains the top U.S. crude oil supplier and Mexico remained second despite a drop in output.



Permalink: Click here

Comments
Read comments from others and share your own thoughts.
Please provide the answer to the following question:

 = 
 
Search this site:   

Read More Stories
USDA Seeks Comment on Report Timing
Read this storyWith new market hours,USDA is looking into the right time to release information to the market.
Read this story

Weekend Forecast Changes Pivotal for Grain Futures
Read this storyEurope remains a concern, but the big driver on Tuesday will likely be the state of next week’s anticipated Midwest rains.
Read this story

Farm Markets Rise Ahead of Holiday
Read this storyOvernight boost based on positive comments from Europe aimed at pressuring Germany.
Read this story

 
USDA Seeks Comment on Report Timing
Afternoon Recap by Arlan Suderman
Weekend Forecast Changes Pivotal for Grain Futures
The Buzz: Grain Market Chaos Continues
Morning Call by Bryce Knorr
CRP Signup Results Announced
Weekly Fertilizer Review
Satellite Imagery Shows the Good and the Bad
Farm Markets Rise Ahead of Holiday
Livestock Call By John Otte
Top 50 Tags
4-H afternoon recap American Farm Bureau Federation American Soybean Association animal health arlan suderman biodiesel biofuels bryce knorr BSE Bushel checkoff cotton Drought Environmental Protection Agency EPA ethanol Extension extension service farm farm bill Farm Bureau farm futures farm futures magazine farm futures market farm progress Farm Service Agency farmfutures farmfutures.com farming farmprogress.com fertilizer FFA free trade agreement Harvest insurance labor legal National Cattlemen's Beef Association National Corn Growers Association NCGA soybean soybean association soybeans SURE usda wheat winter wheat www.farmfutures www.farmfutures.com