Russia is one of the three largest crude oil producers in the world, after the United States and Saudi Arabia. European countries—which have not banned Russian energy imports—generally import more of Russia’s crude oil and petroleum products than the United States.

Petroleum remains the most-consumed fuel in the United States, as energy-related carbon dioxide emissions dip through 2035 before climbing in later years.

U.S. production of all fossil fuels—crude oil, coal, dry natural gas, and natural gas plant liquids (NGPL)—to increase in 2022, but forecast fossil fuel production will remain lower than the 2019 peak.

Iran’s oil exports have shrunk from more than 2.5 million bpd since 2018,

EIA forecasts that consumption of petroleum and liquid fuels globally will average 93.1 million b/d for all of 2020, down 8.3 million b/d from 2019, before increasing by 6.5 million b/d in 2021.

Qatar Petroleum maintains its plans to raise its domestic gas liquefaction capacity by 64%

U.S. petroleum demand declined to 19.4 million barrels per day (mb/d) in March, which was a 4.6% decrease from February

Replenishing the Strategic Petroleum Reserve would enable the government to take as much as 77 million barrels off the world market.

In the first half of 2019, the United States exported 5.47 million barrels per day (b/d) of petroleum products, an increase of 19,000 b/d (0.3%) from the first half of 2018 and the slowest year-over-year growth rate for any half year in 13 years.

Total U.S. petroleum demand of 21.5 mb/d was highest for any month since August 2005; Improved infrastructure helped increase supply and lower prices; Highest U.S. petroleum exports (8.1 mb/d) for the month of August; and Total inventories increased year-on-year for the ninth consecutive month.