7 million barrels per day or 9% was for jet fuel, and 850,000 barrels per day (4%) residual fuel oil. U.S. oil demand is expected to continue increasing in coming years.
Petroleum products demand declined by an average 30,000 bbl/d in 2000, despite strong economic growth and colder-than-normal fall weather, largely as a result of a record mild first quarter - the peak heating season - as well as the substantial increase in oil prices during the second half of the year. Motor gasoline demand fell by 50,000 bbl/d, or 0.6%, while jet fuel demand grew 3.3%, distillate increased 3.2%. .
Slightly lower U.S. crude oil production in 2000, combined with slightly increased oil demand, led the United States to import an estimated 11.1 MMBD of oil (crude and products) during 2000, representing around 57% of total U.S. oil demand. Around 46% of this oil came from OPEC nations, with Persian Gulf sources accounting for about 22% of U.S. oil imports during the year. Overall, the top suppliers of oil to the United States during 2000 were Canada, Saudi Arabia, Venezuela , and Mexico. .
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Refining in the United States has experienced a steep decline in refining capacity since 1981. Between 1981 and 1989, the number of U.S. refineries fell from 324 to 204, representing a loss of 3 MMBD in operable capacity, and a concomitant increase in refining capacity utilization from 69 to 86%. Much of this decline resulted from the 1981 deregulation, which effectively removed the major prop from underneath many marginally profitable, often smaller, refineries. Between 1989 and 1992, refining capacity remained roughly stable. Since 1992, over 30 additional, mainly small U.S. refineries have shut down, for a wide variety of reasons. This, combined with higher refinery runs, raised average weekly capacity utilization to 96% in 1998, before falling off to an average 92.7% in 1999. As of late 2000, capacity utilization at U.S. refineries reportedly was back up to 95%-96%.
