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Refiners on East, Gulf Coasts Scaling Back Oil Imports

Trend Accelerating Amid U.S. Shale Drilling Boom

The ongoing slide in U.S. crude oil imports, which this year are expected to fall to the lowest levels since 1996, primarily reflects reduced shipments to refiners along the East Coast and Gulf of Mexico, the Energy Information Administration said.

On the Gulf Coast, home to about half of the nation's refining capacity, crude imports averaged 4.5 million barrels a day in 2012, or about 58% of total oil processed, the EIA said in its This Week in Petroleum report. In 2005, imported crude accounted for 80% of Gulf Coast refiner "runs."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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