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The US will soon return as net oil importer

The US Energy Information Administration projects that the country will again become an importer of crude oil and other oil products, as its oil production goes down.

Photo: JESSICA LUTZ/REUTERS / X03778

The US will return as a net importer of crude oil and petroleum products in the third quarter, predicts the US Energy Information Agency, EIA, in an analysis. The oil import will continue through most of 2021.

There is less oil for the US to export, as the production continues to go down, and meanwhile, the export of petroleum products will reach a low point in the third quarter, as US refineries lower their output in response to a drop in demand, projects the agency.

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