The head of the Organisation of the Petroleum Exporting Countries (Opec) has said that the organisation must order a “substantial” cut in oil production when the group meets in Vienna next week.
Inside Story asks who is responsible for the drop in oil prices and if it is related to the current financial crisis.
Where Does the US Import Oil and Other Petroleum Products From?
Posted by Gail the Actuary
The Oil Drum
October 20, 2008 – 9:50am
We all know that the United States is an importer of petroleum products. The United States is also an exporter of petroleum products, primarily to Mexico and Canada. Both of these countries send us crude oil, and we export refined products back to them. We often hear that Canada and Mexico are our largest sources of petroleum product imports, but is this really true if we net out exports? Canada remains number 1 when we net out exports, but Mexico drops to fifth place in 2008. (Mexico drops to third place in 2008, without netting out exports, because of its declining volume.)