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Escalating Trade Wars and Oil Markets


  • U.S. Gulf Coast crude oil imports averaged 1.8 million barrels per day (b/d) in March 2019, the lowest level since March 1986 and significantly lower than the peak of 6.6 million b/d in March 2007.
  • In 2018, 20% of all Gulf Coast crude oil imports were from Venezuela, an annual average of 498,000 b/d.
  • One year after the production-cut agreement, crude oil imports from OPEC processed at Gulf Coast refineries had fallen 562,000 b/d from 2.1 million b/d in November 2016 to 1.5 million b/d in November 2017.



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