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Liquid Fuels and Natural Gas in the Americas January 2014

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At the outset of 2013, the Americas region accounted for one-third of proved worldwide reserves of crude oil, at 536 billion barrels, and one-tenth of proved natural gas reserves, at 688 trillion cubic feet (Tcf), as well as immense recoverable resources of oil and gas including reservoired resources, tight oil, and shale gas.In 2012, the Americas produced 29% of the world At the outset of 2013, the Americas region accounted for one-third of proved worldwide reserves of crude oil, at 536 billion barrels, and one-tenth of proved natural gas reserves, at 688 trillion cubic feet (Tcf), as well as immense recoverable resources of oil and gas including reservoired resources, tight oil, and shale gas.In 2012, the Americas produced 29% of the world's liquid fuels supply, at almost 26 million barrels per day (bbl/d), and consumed one-third of the world's liquid fuels, at nearly 30 million bbl/d. Combined, the countries in the region imported and exported substantial volumes of both crude oil and refined petroleum products, accounting for 25% of global crude imports, 9% of global crude exports, and 22% of global petroleum product imports and exports. The countries in the Americas imported 4 million bbl/d and exported 3 million bbl/d of refined petroleum products in 2012, much of which was exported from the United States.For much of the past decade, the United States has been a major crude oil, petroleum product, and natural gas trading partner with other countries in the Americas. From 2003 to 2012, the United States imported about 5 million bbl/d of crude oil from other countries in the region-primarily from Canada, Mexico, and Venezuela. However, the quantities and shares of imports from those countries are shifting. With U.S. crude oil production continuing to increase, domestic production has displaced some imports of crude oil, including those from Latin America, defined as Mexico plus Central America, the Caribbean, and South America.The United States has been a major petroleum product supplier to the Americas for the past decade, and its significance as a product supplier has grown considerably in recent years. In 2003, the United States exported 0.6 million bbl/d of petroleum products to other countries in the Americas, primarily Mexico and Canada. In 2012, U.S. exports to the countries in the region totaled 2.0 million bbl/d, still primarily to Mexico and Canada but increasingly to other countries, most notably Brazil and Chile. As a result, the United States recently became a net exporter of petroleum products.


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At the outset of 2013, the Americas region accounted for one-third of proved worldwide reserves of crude oil, at 536 billion barrels, and one-tenth of proved natural gas reserves, at 688 trillion cubic feet (Tcf), as well as immense recoverable resources of oil and gas including reservoired resources, tight oil, and shale gas.In 2012, the Americas produced 29% of the world At the outset of 2013, the Americas region accounted for one-third of proved worldwide reserves of crude oil, at 536 billion barrels, and one-tenth of proved natural gas reserves, at 688 trillion cubic feet (Tcf), as well as immense recoverable resources of oil and gas including reservoired resources, tight oil, and shale gas.In 2012, the Americas produced 29% of the world's liquid fuels supply, at almost 26 million barrels per day (bbl/d), and consumed one-third of the world's liquid fuels, at nearly 30 million bbl/d. Combined, the countries in the region imported and exported substantial volumes of both crude oil and refined petroleum products, accounting for 25% of global crude imports, 9% of global crude exports, and 22% of global petroleum product imports and exports. The countries in the Americas imported 4 million bbl/d and exported 3 million bbl/d of refined petroleum products in 2012, much of which was exported from the United States.For much of the past decade, the United States has been a major crude oil, petroleum product, and natural gas trading partner with other countries in the Americas. From 2003 to 2012, the United States imported about 5 million bbl/d of crude oil from other countries in the region-primarily from Canada, Mexico, and Venezuela. However, the quantities and shares of imports from those countries are shifting. With U.S. crude oil production continuing to increase, domestic production has displaced some imports of crude oil, including those from Latin America, defined as Mexico plus Central America, the Caribbean, and South America.The United States has been a major petroleum product supplier to the Americas for the past decade, and its significance as a product supplier has grown considerably in recent years. In 2003, the United States exported 0.6 million bbl/d of petroleum products to other countries in the Americas, primarily Mexico and Canada. In 2012, U.S. exports to the countries in the region totaled 2.0 million bbl/d, still primarily to Mexico and Canada but increasingly to other countries, most notably Brazil and Chile. As a result, the United States recently became a net exporter of petroleum products.

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