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First increase in US crude oil imports since 2010

According to the U.S. Energy Information Administration (EIA), US crude oil imports in the first half of 2016 increased by 7% (by 528,000 bbl/d) compared to the first half of 2015, reversing a multi-year downward trend (first increase since 2010). The bulk crude oil imports came from OPEC countries, whose crude oil supply to the United States rose by 504,000 bbl/d; rising imports from Canada (+87,000 bbl/d) and from other non-OPEC countries (+55,000 bbl/d) were more than offset by declining imports from Mexico (-118,000 bbl/d).



Lower overall crude oil prices contributed to a decline in domestic production, from an average of 9.5 mbl/d in the first half of 2015 to 9 mbl/d in the first half of 2016, resulting in higher crude oil imports. In addition, narrowing price gaps between US crudes and international benchmarks incited refiners in areas where imported crudes had a delivered cost advantage relative to similar domestic crudes to boost imports .