This makes it possible to produce a fixed quantity each year (currently that might vary between 4, 200 and 4, 750 hectoliters a year comparable to about 3, 600 to 4, 000 U.S. barrels).
The U.S. consumed 19.5 million barrels of petroleum a day in 2008, according to the U.S. Energy Information Administration.
According to the U.S. Energy Information Administration, U.S. field production of crude oil was 5 million barrels per day in 2008 and had grown to 5.66 million per day last year.
The U.S. produces roughly 5 million barrels of oil a day, one-third of demand.
The U.S. imports about one million barrels of oil a day from Venezuela and is the biggest customer for Venezuelan oil.
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In 2004, the U.S. exported roughly 12 million barrels of oil distillates.
In 2011, the U.S. imported about 350 million barrels of oil from Venezuela, making it the fourth largest supplier behind Canada, Mexico, and Saudi Arabia, with an 8.3% share.
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New York s HESS CORP. (HES, 59) is a solid second-tier integrated oil-and-gas firm with scores of gas stations across the eastern U.S. It s got 1.5 billion barrels of oil-equivalent reserves (versus 17.2 billion at Exxon).
The U.S. imports four and a half barrels for every one imported by China.
Refinery volumes were weak as well, with U.S. refinery input reaching 717 million barrels per day (mbd).
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It will also slash U.S. oil consumption by 12 billion barrels, dramatically reducing our reliance on foreign suppliers.
This is enormous, says Andrew Lipow, a Houston oil trading consultant, noting that such a position would be equal to one-sixth of the entire U.S. crude inventory of 300 million barrels.
According to the current wisdom of the U.S. Geological Survey, 3 to 4.3 billion barrels of the oil will be recoverable, amounting to 6 months or so of current U.S. consumption.
The Energy Department reported Thursday that crude supplies in the U.S. grew by 4.1 million barrels last week.
The U.S. Energy Information Administration is only slightly less optimistic, projecting U.S. output reaching 10.73 million barrels per day by 2020.
The incident is expected to affect U.S. crude stockpiles by 500, 000 barrels.
Refiners also have the option of seeking assistance from the U.S. Strategic Petroleum Reserve (SPR), with 726.6 million barrels, which the Department of Energy has offered to tap if supply shortages threaten the U.S. consumer market.
Figures recently released by EIA reveal that the U.S. currently buys an average 869, 000 barrels of Venezuelan crude per day.
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The U.S. Geological Survey estimates more than 90 billion barrels of oil and nearly 1, 700 trillion cubic feet of natural gas may be recoverable.
The U.S. Geological Survey estimates more than 90 billion barrels of oil and nearly 1, 700 trillion cubic feet of natural gas may be recoverable by drilling.
U.S. domestic oil production is surging, rising above 7 million barrels per day for the last two months of 2012, according to the U.S. Energy Information Administration.
The U.S. Geological Survey estimates more than 90 billion barrels of oil and nearly 1, 700 trillion cubic feet of natural gas may be recoverable by drilling in the North Slope area.
The residual fuel oil market in the U.S. has fallen from 3.5 million barrels a day in 1979 to just 700, 000 barrels a day, for example, as oil- fueled generators have dwindled.
Its exports of 1.2 million barrels a day to the U.S. trail those of Saudi Arabia, Canada and Mexico today, but that could change if war disrupts the flow of oil from the Middle East.
Even cloven, Marathon would be formidable, as a top-ten U.S. explorer and producer, with 380, 000 barrels per day, and the fifth-largest refiner.
As a result, U.S. crude oil production was up 150, 000 barrels per day to 5.51 million bpd last year, despite downturns in Alaska and the Gulf of Mexico.
Total U.S. offshore oil production is 1.7 million barrels per day, almost all of it from the Gulf of Mexico, eerily close to the two million barrels per day of the historic correlation.
The research outfit reports that thanks to the innovation of hydraulic fracturing and horizontal drilling on private and state lands, the U.S. in fiscal 2012 produced 6.2 million barrels of oil daily, up from 5.1 million barrels as recently as fiscal 2007.
Over the past two years, U.S. oil production has grown by 1.5 million barrels a day, or 27%.
Total U.S. offshore oil production amounts to 1.7 million barrels per day.
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