US Oil Imports Hit Record 63% in 2003

Crude imports also set a new high in 2003 in number of barrels at 9.6 million barrels per day

Published: 07-Jan-2004

NEW YORK (Reuters) - The United States imported a record 63 percent of its oil from foreign sources in 2003, government figures showed Wednesday, and oil analysts said that dependence is likely to rise in the new year.

Crude imports accounted for 62.9 percent of oil run through U.S. refineries, up from the previous record of 61.7 percent in 2001 and from last year's 61.2 percent, the Department of Energy said.

Twenty years ago, foreign crude accounted for only 28 percent of oil used by the United States, the world's biggest consumer -- then and now.

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