TRADE SHIFTS INDEX 2021
RESOURCES
FAQS 2021

Energy-Related Products

Changes in 2021 from 2020:

  • U.S. total exports: Increased by $91.0 billion (58.1 percent) to $247.5 billion
    • U.S. domestic exports: Increased by $88.1 billion (56.8 percent) to $243.1 billion
    • U.S. re-exports: Increased by $2.9 billion (190.2 percent) to $4.4 billion
  • U.S. general imports: Increased by $93.3 billion (74.1 percent) to $219.2 billion

The value of U.S. domestic exports of energy-related products[1] rose by $88.1 billion (56.8 percent) to $243.1 billion in 2021 (table EP.1), after falling by 58.3 percent in 2020.[2] All digests in this sector saw export gains with natural gas and components (up $36.0 billion), petroleum products (up $29.2 billion), and crude petroleum (up $18.0 billion), accounting for 94.3 percent of the increase in value. Exports to Mexico (up $18.9 billion, 79.4 percent), South Korea ($7.4 billion, 86.3 percent), India (up $6.3 billion, 85.1 percent), and Canada (up $6.2 billion, 36.6 percent) experienced the most significant increases in value.

The value of U.S. general imports of energy-related products grew by $93.3 billion (74.1 percent) over the same period.[3] All digests in this sector gained in import value, with crude petroleum (up $56.4 billion) and petroleum products (up $28.7 billion) accounting for over 90 percent of the increase. The primary import sources were Canada (up $44.7 billion or 75.2 percent), Russia (up $8.7 billion or 91.4 percent), and Mexico (up $6.0 billion or 60.8 percent.

The growth in the value of U.S. exports and imports of energy-related products in 2021 primarily resulted from increases in both U.S. and global demand and prices for crude petroleum, petroleum products, and natural gas and components. As many countries’ economies reopened and began to recover from the initial slowdown following the outbreak of the COVID-19 pandemic, the demand for energy-related products increased. This growing demand, coupled with supply constraints, led to strongly rising prices and trade values. According to the International Energy Agency (IEA), global energy demand (by volume) was expected to increase by 4.6 percent in 2021.[4] By contrast, global supply of crude petroleum tightened as inventories were depleted and a sluggish phaseout of pandemic-related production cuts by the Organization of Petroleum Exporting Countries (OPEC) and other nonmember countries (OPEC+) kept supply limited. This demand-supply dynamic spurred crude prices to a seven-year high.[5] From 2020 to 2021, the average annual spot price for West Texas Intermediate Crude rose from $39.16 per barrel to $68.13 per barrel (74.0 percent), and North Sea Brent Crude increased from $41.96 per barrel to $70.86 per barrel (68.9 percent).[6] As crude petroleum prices increased, the average Henry Hub natural gas spot prices followed suit, rising from $2.02 per million Btu (MMBtu) in 2020 to $5.89/MMBtu in 2021 (91.6 percent).[7] The significantly higher global prices increased the value of energy-related products trade, making imports more expensive while also increasing the value of exports.

U.S. Domestic Exports

U.S. exports of natural gas and components grew by $35.9 billion (103.9 percent) to $70.5 billion in 2021.[8] The increase in value is mainly attributable to rising exports of liquefied propane and natural gas—both in its gaseous form (pipeline) and as a liquid (LNG).

In 2021, exports of liquefied propane rose in value by $9.9 billion (89.6 percent) to $20.9 billion, while export volumes of propane increased 3.4 percent to 477.6 million barrels (MMBBL).[9] Overall, high international demand and tight global propane supply resulted in increased wholesale spot prices, facilitating the rise in U.S. export values.[10] U.S. propane exports averaged 1.3 MMBBLs per day, the highest annual export level by volume in decades.[11] East Asia and Europe drove the growth in global demand for natural gas and components, especially for propane, which is used in both markets for space heating and as a petrochemical feedstock.[12] The increase in Asian demand for U.S. propane can be primarily attributed to Singapore, Indonesia, China, and South Korea.[13] During 2017–20, Indonesia diversified its supply sources for propane and other similar natural gas components to secure cheaper material from the United States and nearby Australia to reduce dependency on Middle Eastern producers.[14] South Korea uses propane as a feedstock for polypropylene, and major South Korean petrochemical makers increased 2021 production of polypropylene. This was prompted in part by the use of polypropylene as a base material in medical device manufacturing, for which there was a surge in demand relating to the rollout of vaccination programs across Asia.[15] While Chinese demand for propane soared as state-owned energy companies worked to ensure adequate fuel supply for the cold weather months. Chinese demand for propane also rose owing to increased construction of propane dehydrogenation plants, which use propane as a feedstock in the production of propylene.[16]

In 2021, U.S. LNG exports grew by 49.0 percent in volume to 3.6 trillion cubic feet (TCF) and by $13.1 billion (105.3 percent) in value to $26.9 billion.[17] The increased volume of U.S. exports was facilitated by recent expansions to the number and capacity of domestic LNG terminals, particularly on the U.S. Gulf Coast, allowing the United States to become the world’s leading exporter of LNG in December 2021.[18] Moreover, rising global demand as economies continued to recover from the initial slowdown due to the outbreak of the COVID-19 pandemic, extreme weather-related events, and continuous unplanned outages at LNG export facilities in several other major supplying countries—such as Australia, Malaysia, Nigeria, Algeria, Norway, and Trinidad and Tobago—contributed to significantly higher prices in 2021.[19] China, Japan, and South Korea continued as leading markets for U.S. LNG exports, but their relative importance changed. China rose to become the top destination market, supported by its rapid expansion of LNG import terminal capacity and government policies promoting the transition from coal to natural gas to reduce air pollution and greenhouse gas emissions.[20] Rising LNG exports to South Korea were due to the country’s strong demand for natural-gas-based electricity generation (due to temporary shutdowns of several coal-fired power plants and nuclear reactors) and an initiative to reduce air pollution.[21] By contrast, exports to Japan diminished for the fourth straight year as the country had lower electricity demand, coupled with the reopening of nuclear power plants that had been previously shut down after the Fukushima disaster.[22]

U.S. pipeline gas exports increased in volume by 6.9 percent to 3.1 TCF and by $7.3 billion (234.4 percent) to $12.8 billion. Mexico, the predominant market for U.S. pipeline gas exports, expanded its pipeline infrastructure to support rising power (electricity) consumption, due largely to high temperatures leading to an increased demand for air conditioning and increased industrial demand.[23] The growing volume of trade in gas resulted from two pipelines—the Sur de Texas-Tuxpan Pipeline and the Trans-Pecos Pipeline.[24]

In 2021, U.S. crude petroleum exports rose by $17.9 billion (36.6 percent) to $66.8 billion.[25] Global petroleum demand in 2021 grew faster than supply, causing a reduction in inventories and contributing to much higher prices.[26] As a result, U.S. crude exports rose by 36.6 percent in value while the exports by volume fell by 7.3 percent (85.7 MMBBL).[27] According to the EIA, U.S. production of crude oil in 2021 decreased by 100 thousand barrels per day (b/d) compared to 2020 and 1,100 thousand b/d when compared to 2019.[28] The decrease was attributed to a cold snap in Texas in February and hurricanes in August. Crude petroleum also experienced reduced investment by U.S. oil producers, a trend which started mid-2020.[29] The largest increases in the value of U.S. exports were to India (up $4.3 billion), South Korea (up $3.9 billion), and the Netherlands (up $2.6 billion).[30] Motor fuel demand surged in India, causing refiners in that country to import lighter grades of crude oil (such as West Texas Intermediate) that yield more gasoline.[31] Meanwhile, South Korea reportedly favored the U.S. light sweet crudes since they were cheaper than the Middle East grades and because of the uncertainty surrounding OPEC supply.[32]

Rising prices significantly impacted the value of U.S. petroleum product exports in 2021, as exports increased in value by $29.2 billion (46.0 percent) to $92.8 billion in 2021 while the average weekly U.S. export volume only increased by 0.6 percent to 3.9 million barrels per day.[33] The most significant increases were to Mexico (up $10.9 billion), Canada (up $3.7 billion), and Brazil (up $2.2 billion). The increase in export value is attributable mainly to rising exports of light oils (motor fuel), naphthas,[34] distillates, and residual fuel oils. Despite tight supply and high global prices, U.S. refiners exported their largest volume of gasoline since 2018, mainly to Latin America.

U.S. exports of coal, coke, and related products grew by $4.7 billion (66.3 percent) to $11.7 billion in 2021, with nearly half of the growth coming from China.[35] According to the IEA, global coal power generation increased by roughly 9 percent in 2021 due to the rebound in global industrial output, electricity demand outpacing low-carbon supply, and steeply rising natural gas prices. A cold winter and hot summer in some countries also boosted power demand. Moreover, low rainfall and weak winds in some regions decreased renewable electricity supplies.[36] China’s top coal supplier traditionally was Australia, but a trade dispute between the two countries in 2020 resulted in a ban by China on imports of Australian coal (mainly thermal coal used for electricity generation) and a shift by China to other suppliers, including the United States.[37] Chinese imports rose by 6.3 percent to 356.3 million short tons year-on-year.[38]

U.S. General Imports

The value of U.S. crude petroleum imports increased by $56.4 billion (73.5 percent) to $133.1 billion in 2021, while the volume rose only modestly (by 3.7 percent) to 2,202.8 MMBBL.[39] As such, the higher import values were due principally to steeply rising global prices.[40] Global demand grew faster than supply in 2021, due partly to slow phaseouts of OPEC+ supply cuts and slow growth in U.S. shale output, as both recovered from declines in production due to initial slowdown at the onset of the COVID-19 pandemic.[41] The top U.S. sources for crude oil imports in 2021 were Canada, Russia, and Mexico.[42] Refineries use crude oil as a feedstock to produce petroleum products, and high U.S. demand, falling U.S. inventories, and tight U.S. crude supply drove domestic refiners to increase imports of crude.[43] For example, surging domestic motor-fuel demand caused U.S. refiners to increase the import of gasoline-rich feedstock from countries such as Russia, which briefly overtook Mexico as the second-largest import source in 2021.[44]

In 2021, the average weekly U.S. import volume of petroleum products increased roughly 18.7 percent to 2.4 million barrels per day while its value rose by $28.7 billion (78.2 percent) to $65.5 billion. Russia (up $5.4 billion), Canada (up $4.5 billion), and the Netherlands (up $2.7 billion) accounted for most of the growth.[45] The higher import values were a result both of higher prices and increased demand for imported petroleum products. Transportation fuels such as distillate fuel oils, motor gasoline, and residual fuel oils accounted for the largest increases.[46] Import prices for gasoline rose significantly as U.S. refineries compensated for cold-weather-related refinery outages in February by ramping up production of heating fuel. Distillate experienced its most robust import growth since 2014, due to increased demand from the domestic trucking industry. After experiencing a decline in 2020, domestic demand for residual fuel oil—mainly used for bunker fuel, electric power production (internationally), space heating, and industrial applications—returned to its 2019 level due largely to vigorous domestic marine transportation activities.[47] Domestic inventories for major refined products—motor gasoline, distillates, and jet fuel—were at historically low levels.[48]

U.S. imports of natural gas and components grew by $6.3 billion (90.2 percent) to $13.2 billion, with gaseous natural gas (pipeline gas) (up $4.2 billion), liquefied propane (LPG) (up $874.0 million), and liquefied natural gas (LNG) (up $347.8 million) accounting for most of the increase.[49] The increase in U.S. import values was principally attributable to higher prices. For example, imports of liquefied propane increased in value by 80.9 percent in 2021, while import volumes actually declined by roughly 4 percent.[50] Spot prices for propane reached their highest level since 2014 due to rising global demand and stagnant U.S. and global production, particularly from OPEC+ countries.[51] U.S. and global natural gas prices also rose sharply in 2021 due to depleted storage levels in Asia and Europe, and rising domestic and international seasonal demand.[52] Nearly all U.S. pipeline gas imports come from Canada and supply U.S. midwestern and western markets.[53]

 

[1] The Energy-related Products sector consists of six Energy-related Products product digests. Each USITC sector digest encompasses various 8-digit subheadings in the Harmonized Tariff Schedule of the United States (HTS). For a complete list of HTS subheadings classified in a particular sector or digest, see this data table.

[2] Unless otherwise noted, the export data used in this section are for domestic exports. For more information on trade terminology, please refer to USITC, “Special Topic: Trade Metrics,” Shifts in U.S. Merchandise Trade, 2014, June 2015; USITC DataWeb/Census, digests EP001-006, accessed February 22, 2022.

[3] USITC DataWeb/Census, digests EP001-006, accessed February 22, 2022.

[4] IEA, “Global Energy Review 2021- Analysis,” April 2021, 2.

[5] OPEC members in 2020–21 included Algeria, Angola, the Republic of the Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates, and Venezuela. Qatar terminated its membership in January 2019 and Ecuador withdrew its membership in January 2020.

OPEC, “Member Countries,” accessed January 10, 2022.

The OPEC+ countries include the 13 current OPEC members along with nonmembers Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia, Mexico, Oman, Russia, South Sudan, and Sudan. Wingfield et al., “New Decade, New OPEC Oil Curbs,” February 25, 2020; Edwardes-Evans, “Market Movers Europe, Jan 24–28,” January 24, 2022; Turak, “OPEC+ Agrees to Stick to Oil Production Plan, Defying U.S. Pressure,” November 4, 2021.

OPEC+ agreed in July 2021 to gradually phase out pandemic-related production cuts and maintain its planned production schedule despite prices reaching a three-year high. Lawler, Ghaddar, and Astakhova, “OPEC+ Sticks to Plan for Gradual Oil Output Hike, Price Roars Higher,” October 4, 2021.

[6] EIA, “Spot Prices for Crude Oil and Petroleum Products,” accessed March 15, 2022.

[7] The annual average spot prices are based on delivery at the Henry Hub in Louisiana. EIA, “Henry Hub Natural Gas Spot Price,” accessed May 4, 2022.

[8] USITC DataWeb/Census, digest EP006, accessed February 22, 2022.

[9] EIA, “U.S. Exports of Crude Oil and Petroleum Products,” accessed February 22, 2022.

[10] Eiermann, “U.S. Propane Prices Fell,” February 2, 2022.

[11] EIA, “U.S. Exports of Crude Oil and Petroleum Products,” accessed February 22, 2022.

[12] OPEC+ countries are an essential supplier of propane. Their propane output has been limited due to constrained crude oil production. Dunham, “Global Factors Impact Propane Supply,” November 3, 2021; Advanced Motor Fuels, “Liquefied Petroleum Gas,” accessed March 15, 2022.

[13] Singapore serves as a key energy trading and refining hub in Southeast Asia which includes the infrastructure for refining, storage, and distribution. EIA, “Singapore,” August 2021.

[14] Hussain, Vahn, and Nugraha, “Indonesia May Cut Reliance on LPG Imports,” January 22, 2021.

[15] Vahn, Cheong, and Lee, “South Korea May Seek Polypropylene,” May 7, 2021.

[16] One of the main uses of propylene is to make polypropylene. The Chinese government aims to transition from mainly importing propylene to producing it.

Dunham, “Global Factors Impact Propane Supply,” November 3, 2021.

[17] EIA, “U.S. Natural Gas Exports by Country,” accessed March 15, 2022.

[18] O’Sullivan, “14 Petroleum Liquids Pipeline Projects,” accessed January 22, 2022; Riley, “US Becomes World’s Top Exporter,” January 5, 2022.

[19] EIA, “LNG Exports Grew to Record Highs,” December 29, 2021.

[20] Shortages in China were primarily due to an energy crunch—ongoing power shortages which include coal mine closures due to heavy rains and high demand (construction, hotter summer temperature)—shipping delays, and rising inventories. China is also attempting to reduce electricity generated by coal-fired power plants. EIA, “LNG Exports Grew to Record Highs,” December 29, 2021; He, “Chinese Coal Prices Hit Record High,” October 11, 2021;

Riley, “US Becomes World’s Top Exporter,” January 5, 2022; Disis, “China’s Factories Are Still Struggling,” November 1, 2021.

[21] Lee, “South Korea’s Dec LNG Imports Decline for First Time in 8 Months,” January 17, 2022.

[22] IEA, “Japan 2021—Energy Policy Review,” 2021, 13; Obayashi, “Japan Gives up LNG Buyer Spot to China,” January 20, 2022.

[23] Ober and Dyl, “U.S. Natural Gas Exports to Mexico,” July 23, 2021.

[24] According to Ober and Dyl, most of the growth in exports to Mexico were driven by two cross-border pipelines. The Sur de Texas-Tuxpan Pipeline has a capacity of 2.6 billion cubic feet per day (Bcf/d) and transfers natural gas from Brownsville, Texas, to Veracruz, Mexico. The Sur de Texas-Tuxpan Pipeline deliveries increased from 0.8 Bcf/d in 2020 to 1.7 Bcf/d in June 2021. The Trans-Pecos Pipeline has a capacity of 1.4 Bcf/d. The Trans-Pecos pipelines transfers natural gas from the Waha hub outside Fort Stockton, Texas, to the U.S. border at Presidio, Texas. The Trans-Peco pipeline saw natural gas flows increase from an annual estimate of 0.2 Bcf/d in 2020 to 0.8 Bcf/d in 2021. Ober, Dyl, “U.S. Natural Gas Exports to Mexico,” July 23, 2021.

[25] USITC DataWeb/Census, digest EP004, accessed February 22, 2022.

[26] French, “Crude Oil Demand Returns Faster than Supply,” November 9, 2021.

[27] EIA, “U.S. Exports of Crude Oil and Petroleum Products,” accessed March 15, 2022.

[28] EIA, “Crude Oil Prices Increased in 2021,” January 4, 2022.

[29] EIA, “Crude Oil Prices Increased in 2021,” January 4, 2022.

[30] Crude exports to the Netherlands can be interpreted more broadly as exports to Northwest Europe—the crude oil goes to the Amsterdam-Rotterdam-Antwerp (ARA) hub, which includes extensive storage and refining infrastructure, and then may be transported, or refined and transported, to other Northwest European countries. EIA, “Netherlands—Analysis,” August 2016.

[31] During the COVID-19 pandemic, the use of personal vehicles increased, which were more likely to use lighter-grade fuels. Public transportation used diesel fuel. Verma and Tan, “India State Refiners to Buy,” September 24, 2021.

[32] Vahn, Lee, and Rao, “Commodities 2022,” December 31, 2021.

[33] EIA, “U.S. Exports of Crude Oil and Petroleum Products,” accessed March 15, 2022.

[34] Naphthas are refined or partially refined petroleum products with a boiling range between about 122 degrees and 400 degrees Fahrenheit; they are often used as petrochemical inputs or blended with other petroleum products like motor gasoline and jet fuel.

[35] USITC DataWeb/Census, digest EP003, accessed February 22, 2022.

[36] IEA, “Coal 2021 – Analysis,” December 2021, 10.

[37] Holzman, “US Coal Shipments to China Surge,” August 2021.

[38] Reuters, “China Dec Coal Imports Fall,” January 14, 2022; Aizhu and Xu, “China’s November Coal Imports,” December 6, 2021; Holzman, “US Coal Shipments to China Surge,” August 2021.

[39] USITC DataWeb/Census, digest EP004, accessed February 22, 2022.

[40] The average annual spot price for North Sea Brent Crude grew from $41.96 per barrel in 2020 to $70.86 per barrel (68.9 percent) in 2021. EIA, “Europe Brent Spot Price FOB (Dollars per Barrel),” accessed January 12, 2022.

[41] USITC, “Energy-related Products,” Shifts in U.S. Merchandise Trade, 2020, November 2021

[42] In 2021, Canada (1,126 MMBBL) continues to account for more U.S. crude oil imports than all the OPEC member countries combined (234 MMBBL). The United States continues to improve its infrastructure to transport crude petroleum, hydrocarbon gas liquids (HGLs), and petroleum products (gasoline, diesel, jet fuel, and other refinery products). In 2021, 14 pipeline projects were completed, which were either new, expansions, or conversions, with a few dedicated to crude petroleum exports to Canada. O’Sullivan, “14 Petroleum Liquids Pipeline Projects,” January 19, 2022; EIA, “U.S. Imports of Crude Oil (Thousand Barrels),” accessed January 12, 2022.

[43] Foreman, “U.S. Petroleum Demand and Imports,” October 15, 2021.

[44] Tobben and Bair, “Russia Captures No. 2 Rank Among Foreign Oil Suppliers to U.S.,” August 4, 2021; Espejo, Gordon, “Pemex Plans to Stop Crude Exports,” December 28, 2021.

[45] Growth calculations used Total Petroleum Products minus Propane/Propylene and Other Oils datasets as a proxy for the volume of petroleum products. EIA, “Oil Imports and Exports,” April 13, 2021.

[46] Most of the change in value came from HTS subheadings 2710.12 and 2710.19.

[47] EIA, “U.S. Demand for Residual Fuel Oil,” February 15, 2022.

[48] API, “API’s Monthly Statistical Report,” January 21, 2022, 6.

[49] USITC DataWeb/Census, digest EP006, accessed February 22, 2022.

[50] EIA, “Oil Imports and Exports,” April 13, 2021.

[51] National Propane Gas Association, “Winter Fuels Outlook, Highlights Propane,” accessed March 15, 2022.

[52] Dobbs, “Demand for U.S. Natural Gas,” August 16, 2021.

[53] Dobbs, “Demand for U.S. Natural Gas,” August 16, 2021.

 

Bibliography—Energy-related Products

Advanced Motor Fuels. “Liquefied Petroleum Gas.” Accessed March 15, 2022. https://www.iea-amf.org/content/fuel_information/lpg.

Aizhu, Chen, and Muyu Xu. “China’s November Coal Imports at Highest in 2021.” Nasdaq, December 6, 2021. https://www.nasdaq.com/articles/chinas-november-coal-imports-at-highest-in-2021.

American Petroleum Institute. “API’s Monthly Statistical Report,” January 21, 2022. https://www.api.org:443/products-and-services/statistics/api-monthly-statistical-report.

Disis, Jill. “China’s Factories Are Still Struggling with the Energy Crunch and Supply Woes.” CNN, November 1, 2021. https://www.cnn.com/2021/11/01/economy/china-manufacturing-pmi-covid-intl-hnk/index.html.

Dobbs, Kevin. “Demand for U.S. Natural Gas Exports to Surge Through 2021, EIA Says.” Natural Gas Intelligence, August 16, 2021. https://www.naturalgasintel.com/demand-for-u-s-natural-gas-exports-to-surge-through-2021-eia-says/.

Dunham, Travis. “Global Factors Making a Major Impact on U.S. Propane Supply.” Butane-Propane News, November 3, 2021. https://bpnews.com/supply/global-factors-making-major-impact-us-propane-supply.

Edwardes-Evans, Henry. “Market Movers Europe, Jan 24–28: Commodities Remain on Knife Edge despite Reduced Gas Price Driver.” S&P Global, Commodity Insights, January 24, 2022. https://www.spglobal.com/commodity-insights/en/market-insights/videos/market-movers-europe/012422-russia-ukraine-commodities-brent-crude-gas-prices-edf-strike-petrochemicals-negotiations.

EIA. See U.S. Energy Information Administration (EIA).

Espejo, Sheky, and Meghan Gordon. “Pemex Plans to Stop Crude Exports to the US by 2023 to Meet Domestic Fuel Demand.” S&P Global, December 28, 2021. https://www.spglobal.com/platts/en/market-insights/latest-news/oil/122821-pemex-plans-to-stop-crude-exports-to-the-us-by-2023-to-meet-domestic-fuel-demand.

Foreman, Dean. “API MSR: U.S. Petroleum Demand and Imports Higher, Supply Languished.” American Petroleum Institute, Policy and Issues (blog), October 15, 2021. https://www.api.org:443/news-policy-and-issues/blog/2021/10/15/api-msr-us-petroleum-demand-and-imports-higher-supply-languished.

He, Laura. “Chinese Coal Prices Hit Record High and Power Cuts Continue.” CNN, October 11, 2021. https://www.cnn.com/2021/10/11/economy/china-power-crunch-economy-intl-hnk/index.html.

Holzman, J. “US Coal Shipments to China Surge More than 30-Fold amid Australian Trade Dispute.” S&P Global Platts, August 2021. https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/us-coal-shipments-to-china-surge-more-than-30-fold-amid-australian-trade-dispute-66154595.

Hussain, Ramthan, Gawoon Philip Vahn, and Anita Nugraha. “Indonesia May Cut Reliance on LPG Imports by 2030 on Dimethyl Ether Output Plans.” S&P Global, January 22, 2021. https://www.spglobal.com/platts/en/market-insights/latest-news/oil/012221-indonesia-may-cut-reliance-on-lpg-imports-by-2030-on-dimethyl-ether-output-plans.

International Energy Agency (IEA). Coal 2021: Analysis and Forecast to 2024. IEA report, December 2021. https://iea.blob.core.windows.net/assets/f1d724d4-a753-4336-9f6e-64679fa23bbf/Coal2021.pdf.

International Energy Agency (IEA). Global Energy Review 2021: Assessing the Effects of Economic Recoveries on Global Energy Demand and CO2 Emissions in 2021. Global Energy Review, April 2021. https://www.iea.org/reports/global-energy-review-2021.

International Energy Agency (IEA). “Japan 2021—Energy Policy Review.” Country report, March 2021. https://www.iea.org/reports/japan-2021.

Lawler, Alex, Ahmad Ghaddar, and Olesya Astakhova. “OPEC+ Sticks to Plan for Gradual Oil Output Hike, Price Roars Higher.” Reuters, sec. Energy, October 4, 2021. https://www.reuters.com/business/energy/opec-seen-keeping-oil-output-policy-unchanged-opec-sources-say-2021-10-04/.

National Propane Gas Association. “EIA Presents Winter Fuels Outlook, Highlights Propane Demand.” NPGA Bobtail, October 28, 2021. https://www.npga.org/news-resources/eia-presents-winter-fuels-outlook-highlights-propane-demand/.

Obayashi, Yuka. “Japan’s 2021 LNG Imports Slip, Gives up World’s Top Buyer Spot to China.” Reuters, January 20, 2022, Commodities News. https://www.reuters.com/article/japan-energy-imports-idAFL4N2U016S.

Organization of the Petroleum Exporting Countries (OPEC). “OPEC: Member Countries.” Accessed June 21, 2021. https://www.opec.org/opec_web/en/about_us/25.htm.

Reuters. “China Dec Coal Imports Fall, 2021 Imports Highest since 2013.” European Markets January 14, 2022. https://www.reuters.com/markets/europe/china-december-coal-imports-fall-record-high-prior-month-2022-01-14/.

Riley, Charles. “US Becomes World’s Top Exporter of Liquefied Natural Gas.” CNN, January 5, 2022. https://www.cnn.com/2022/01/05/energy/us-lng-exports/index.html.

Tobben, Sheela, and Jeffrey Bair. “Russia Captures No. 2 Rank Among Foreign Oil Suppliers to U.S.” Bloomberg, August 4, 2021. https://www.bloomberg.com/news/articles/2021-08-04/russia-captures-no-2-rank-among-foreign-oil-suppliers-to-u-s.

U.S. Energy Information Administration (EIA). “Crude Oil Demand Returns Faster than Supply, Increasing Prices and Reducing Inventories.” Today in Energy, by Matt French, November 9, 2021. https://www.eia.gov/todayinenergy/detail.php?id=50296.

U.S. Energy Information Administration (EIA). “Crude Oil Prices Increased in 2021 as Global Crude Oil Demand Outpaced Supply.” Today in Energy, by Jimmy Troderman, January 4, 2022. https://www.eia.gov/todayinenergy/detail.php?id=50738.

U.S. Energy Information Administration (EIA). “Europe Brent Spot Price FOB (Dollars per Barrel).” Data: Petroleum and Other Liquids. Accessed January 12, 2022. https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=RBRTE&f=A.

U.S. Energy Information Administration (EIA). “Henry Hub Natural Gas Spot Price.” Data: Henry Hub Gas Spot Price. Accessed May 4, 2022. https://www.eia.gov/dnav/ng/hist/rngwhhdA.htm.

U.S. Energy Information Administration (EIA). “In 2021, 14 Petroleum Liquids Pipeline Projects Were Completed in the United States.” Today in Energy, by Jim O’Sullivan, January 19, 2022. https://www.eia.gov/todayinenergy/detail.php?id=50938.

U.S. Energy Information Administration (EIA). “Netherlands—Analysis.” Data: Netherlands. August 2016. https://www.eia.gov/international/overview/country/NLD.

U.S. Energy Information Administration (EIA). “Oil Imports and Exports.” U.S. Energy Information Administration (EIA), April 13, 2021. https://www.eia.gov/energyexplained/oil-and-petroleum-products/imports-and-exports.php.

U.S. Energy Information Administration (EIA). “Singapore.” Data: Singapore. August 2021. https://www.eia.gov/international/overview/country/SGP.

U.S. Energy Information Administration (EIA). “Spot Prices for Crude Oil and Petroleum Products.” Data: Spot Prices. Accessed March 15, 2022. https://www.eia.gov/dnav/pet/pet_pri_spt_s1_d.htm.

U.S. Energy Information Administration (EIA). “U.S. Demand for Residual Fuel Oil Rose Late in 2021,” Today in Energy, by Kevin Hack, February 15, 2022. https://www.eia.gov/todayinenergy/detail.php?id=51298.

U.S. Energy Information Administration (EIA). “U.S. Exports of Crude Oil and Petroleum Products.” Data: Exports, 2016–2021. Accessed March 15, 2022. https://www.eia.gov/dnav/pet/pet_move_exp_dc_NUS-Z00_mbbl_a.htm.

U.S. Energy Information Administration (EIA). “U.S. Exports of Crude Oil and Petroleum Products.” Data: Exports, August 2021–January 2022. Accessed March 15, 2022. https://www.eia.gov/dnav/pet/pet_move_exp_dc_NUS-Z00_mbbl_m.htm.

U.S. Energy Information Administration (EIA). “U.S. Imports of Crude Oil (Thousand Barrels).” Petroleum and Other Liquids: Imports: Crude, 2016–21. Accessed January 12, 2022. https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRIMUS1&f=M.

U.S. Energy Information Administration (EIA). “U.S. Liquefied Natural Gas Exports Grew to Record Highs in the First Half of 2021.” Today in Energy, by Victoria Zaretskaya, December 29, 2021. https://www.eia.gov/todayinenergy/detail.php?id=50625.

U.S. Energy Information Administration (EIA). “U.S. Natural Gas Exports by Country.” Data: LNG, 2016–21. Accessed March 15, 2022. https://www.eia.gov/dnav/ng/ng_move_expc_s1_a.htm.

U.S. Energy Information Administration (EIA). “U.S. Natural Gas Exports to Mexico Established a New Monthly Record in June 2021.” Today in Energy, by Max Ober and Katie Dyl, July 23, 2021. https://www.eia.gov/todayinenergy/detail.php?id=48836.

U.S. Energy Information Administration (EIA). “U.S. Propane Prices Fell from Multiyear Highs after a Mild Start to the Winter.” Petroleum and Other Liquids: Exports; Propane, 2016–21. February 2, 2022. https://www.eia.gov/todayinenergy/detail.php?id=51138.

U.S. International Trade Commission (USITC). “Energy-Related Products.” Shifts in U.S. Merchandise Trade, 2020. Investigation No. 332-345. USITC Publication 5239. Washington, DC: USITC, November 2021. https://usitc.gov/research_and_analysis/tradeshifts/2020/energy.htm

Turak, Natasha. “OPEC+ Agrees to Stick to Oil Production Plan, Defying U.S. Pressure.” CNBC, November 4, 2021. https://www.cnbc.com/2021/11/04/opec-agrees-to-stick-to-oil-production-plan-defying-us-pressure.html.

Vahn, Gawoon Philip, Wendy Cheong, and Charles Lee. “S Korea May Seek More Naphtha as Polypropylene, Medical Device Needs Surge.” S&P Global, May 7, 2021. https://www.spglobal.com/platts/en/market-insights/latest-news/oil/050721-s-korea-may-seek-more-naphtha-as-polypropylene-medical-device-needs-surge.

Vahn, Philip, Charles Lee, and Pankaj Rao. “Commodities 2022: South Korea to Continue Favoring US Crude amid OPEC Supply Uncertainty.” S&P Global, December 31, 2021. https://www.spglobal.com/platts/en/market-insights/latest-news/oil/123121-commodities-2022-south-korea-to-continue-favoring-us-crude-in-2022-amid-opec-supply-uncertainty.

Verma, Nidhi, and Florence Tan. “Analysis: India State Refiners to Buy More Light Crude to Boost Gasoline Output.” Reuters, India, September 24, 2021. https://www.reuters.com/world/india/india-state-refiners-buy-more-light-crude-boost-gasoline-output-2021-09-24/.

Wingfield, Brian, Samuel Dodge, Demetrios Pogkas, and Cedric Sam. “New Decade, New OPEC Oil Curbs. Same Mixed Results.” Bloomberg, February 25, 2020. https://www.bloomberg.com/graphics/opec-production-targets/.