U.S. oil imports fall 9.2% to lowest level since 2000

12/30/2012

U.S. oil imports fall 9.2% to lowest level since 2000

NEW YORK -- U.S. crude imports fell 9.2% in October from a year earlier to 8.091 million barrels a day, the lowest amount of imported crude since January 2000, according to U.S. Department of Energy data.

The data are the latest illustration of how the drilling boom in North Dakota and other states is remaking the U.S. energy picture. The year-over-year drop of 816,000 bopd was the eighth straight decline from year-earlier levels.

The drop in crude imports came as domestic crude output rose 15.9%, or 935,000 bopd from year-earlier levels to 6.820 MMbopd, EIA data show. That's the highest since December 1993.

The surge was led by North Dakota, which saw its output rise in October to 747,000 barrels a day from 729,000 barrels a day. Imports from the Organization of Petroleum Exporting Countries averaged 3.998 MMbopd, down 1.6% from September, the lowest since February.

Dow Jones Newswires

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