U.S. Petroleum Exports Shatter Records As Distillate And Jet Fuel Surge

U.S. petroleum exports hit a staggering 10.15 million barrels per day in 2023. No joke. Distillate and jet fuel led the charge, transforming America from oil-dependent to export powerhouse. Crude exports jumped 13% to 4.1 million barrels daily, while petroleum products rose 2.5%. Europe can’t get enough of American oil these days, thanks to Russian sanctions. The $117.16 billion export value proves the U.S. isn’t just playing the energy game—it’s changing the rules.

Every drop counts in the global oil game, and America’s playing to win. The numbers don’t lie. U.S. petroleum exports hit a staggering 10.15 million barrels per day in 2023, comfortably outpacing imports of 8.53 million b/d. That’s called a surplus, folks. And it’s massive.

America now sits proudly as the world’s second-largest oil exporter, with only Saudi Arabia ahead. Not too shabby for a country that was once desperately dependent on foreign oil. The value? A cool $117.16 billion in 2023. That’s billion with a B.

From petro-dependence to global dominance, America’s $117.16 billion oil export business is reshaping world energy markets.

Crude oil exports specifically reached an all-time high of 4.1 million barrels daily, jumping 13% from 2022. Production levels topped out at 12.9 million b/d. Records falling left and right. Seems like those oil rigs have been busy.

Meanwhile, petroleum product exports weren’t slacking either. They climbed to 6.1 million b/d, up 2.5% from the previous year. Distillate and jet fuel led the charge. Turns out people still need to fly places and move stuff around. Who would’ve thought?

Europe became the top customer in 2023. Gee, wonder why? Maybe something to do with that little situation involving Russian sanctions. Their loss, America’s gain. Asia and Oceania rounded out the top export destinations. In 2024, exports to Europe increased by six percent to 1.93 million b/d, reflecting continued strong demand.

The economic impact is nothing to sneeze at. Oil exports are creating jobs, improving trade balances, and boosting America’s global influence. Energy security looks a lot different in 2023 than it did a decade ago. Despite this boom, clean energy jobs grew at twice the rate of the overall economy in 2023, adding 149,000 new positions.

The U.S. now exports to 173 countries worldwide. Among the major recipients are Mexico receiving 11% and China accounting for 10% of all US petroleum exports. That’s some serious market penetration. American refineries are in a weird spot though – optimized for heavy crude but exporting light oils. Talk about an identity crisis.

Bottom line: America’s petroleum export machine is firing on all cylinders. From production to exports, records are falling faster than gas prices on Election Day. And in the high-stakes world of global energy politics, the U.S. isn’t just playing the game – it’s changing it.