EIA analyzes U.S.-Mexico energy trade
U.S. energy trade with Mexico involves importing crude oil and exporting petroleum products, according to the latest annual data from the Census Bureau analyzed by the U.S. Energy Information Administration.
The energy trade initiative accounted for 12 percent of the value for all of America’s exports to Mexico and 5 percent of all U.S. imports from Mexico in 2018. Energy trade between Mexico and the United States has historically been driven by Mexico’s sales of crude oil to the United States and by U.S. net exports of refined petroleum products to Mexico.
Crude oil accounts for most U.S. energy imports from Mexico, averaging 665,000 barrels per day (b/d) in 2018 while petroleum products account for most of the value of energy exports from the United States to Mexico.
Last year Mexico received over 1.2 million b/d of petroleum products, valued at more than $30 billion, officials said, noting exports of petroleum products to Mexico made up 22 percent of all petroleum products exported from the United States in 2018.
Petroleum product exports to Mexico rose in both the volume and value of product traded, per the analysis. Officials said changes in Mexico’s utilization of refineries have created a widening gap between their domestic supply and demand of gasoline and American gasoline exports now supply more than half of Mexico’s gasoline consumption.
