📈 U.S. Shift Away from Saudi and GCC Crude Oil Imports

Crude oil exports from GCC to the U.S. declined sharply from a peak of 2 million barrels per day in 2003—accounting for 20.5% of total U.S. crude oil imports—to just 330 thousand barrels per day (5.1%) in 2024. Over the same period, total U.S. crude oil imports fell by 32%, while imports specifically from GCC dropped by 83%.

The U.S. Shale Revolution played a key role in reducing dependence on foreign oil, particularly from the Middle East. From 2003 to 2024, U.S. crude oil imports from Canada surged by 163%, with Canada supplying 62% of all U.S. imports in 2024.

Within the GCC, Saudi Arabia has remained the dominant exporter to the U.S., accounting for 84% of GCC shipments between 2005 and 2024. However, by 2024, Saudi Arabia’s share of total U.S. crude oil imports had declined to just 4.1% (273 thousand barrels per day).

GCC members: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates