America’s top 15 suppliers of crude oil in 2019 generated 96.2% of US purchases from foreign markets, with over two-thirds (68.1%) of the overall cost of buying unprocessed petroleum coming from suppliers in Canada, Saudi Arabia and Mexico.

1. Canada: US$66.3 billion (50.1% of total US crude oil imports)
2. Mexico: $12.3 billion (9.3%)
3. Saudi Arabia: $11.5 billion (8.7%)
4. Iraq: $7 billion (5.3%)
5. Colombia: $6.5 billion (4.9%)
6. Nigeria: $4.4 billion (3.3%)
7. Ecuador: $4.3 billion (3.3%)
8. Brazil: $3.7 billion (2.8%)
9. Russia: $3.5 billion (2.6%)
10. United Kingdom: $1.54 billion (1.2%)
11. Libya: $1.45 billion (1.1%)
12. Venezuela: $1.4 billion (1.1%)
13. Norway: $1.3 billion (1%)
14. Kuwait: $1.1 (0.8%)
15. Trinidad/Tobago: $921 million (0.7%)

Five among these top suppliers increased the value of their crude oil sold to America from 2018 to 2019, namely Trinidad and Tobago (up 314.5%), United Kingdom (up 66.6%), Canada (up 3.1%), Ecuador (up 2.1%) then the United Kingdom (up 2%).

Leading the decliners year over were: Venezuela (down -86.7%), Saudi Arabia (down -47.3%), Kuwait (down -41.8%), Iraq (down -41.8%) and Norway (down -22.7%).

America also produces and sells its own crude oil on international markets. In 2019, the United States shipped $65.3 billion worth of crude oil to its trade partners globally. Nevertheless, revenues from its exported crude oil are less than half of the $132.4 billion that the US spent on imported crude oil.

Overall, the US product category trade deficit for crude oil was -$67 billion for 2019. That amount of red ink reflects a -45.9% reduction from the -$123.8 billion deficit during 2015 and a -41.5% decrease from the -$114.5 billion deficit in 2018.

Below you will find the 15 countries that caused America’s highest negative subtotals from buying and selling crude oil on international markets in 2019.

1. Canada: -US$56.3 billion (product deficit up 4.3% since 2018)
2. Mexico: -$12.2 billion (down -14.7%)
3. Saudi Arabia: -$11.5 billion (down -47.3%)
4. Iraq: -$7 billion (down -41.8%)
5. Colombia: -$6.1 billion (up 0.7%)
6. Nigeria: -$4.4 billion (down -13.8%)
7. Ecuador: -$4.3 billion (up 2.1%)
8. Russia: -$3.5 billion (up 66.6%)
9. Brazil: -$2.5 billion (down -23.6%)
10. Libya: -$1.45 billion (up 7.1%)
11. Venezuela: -$1.41 billion (down -86.7%)
12. Kuwait: -$1.1 billion (down -41.8%)
13. Trinidad/Tobago: -$921 million (up 314.5%)
14. Argentina: -$819.3 million (up 16%)
15. Norway: -$779.9 million (down -16%)

American trade deficits for crude oil widened the most year over year with Trinidad and Tobago (up 314.5%), Russia (up 66.6%) and Argentina (up 16%).

The US was able to pare down the size of its negative trade balances since 2018 at the fastest pace with: Venezuela (down -86.7%), Saudi Arabia (down -47.3%), Kuwait (down -41.8%), Iraq (also down -41.8%) and Brazil (down -23.6%).

The United States did earn surpluses from the international crude oil exported to, imported from or both with 38 trading partners in 2019, and in some cases overcame significant deficits compared to 2018.

For example, America captured about $45 billion in positive cashflow from the following 15 countries.

1. South Korea: US$9.3 billion (product surplus up 60.9% since 2018)
2. Netherlands: $6.1 billion (up 93.4%)
3. India: $5.6 billion (up 70%)
4. United Kingdom: $3.8 billion (up 58.8%)
5. Taiwan: $3.5 billion (up 7%)
6. China: $2.9 billion (down -46.6%)
7. Italy: $2.7 billion (up 9.8%)
8. Thailand: $3.5 billion (up 187.8%)
9. Singapore: $1.85 billion (up 101.1%)
10. France: $1.81 billion (up 214.7%)
11. Japan: $1.13 billion (down -23.4%)
12. Spain: $1.09 billion (up 109.2%)
13. Australia: $987.8 million (reversing a -$41.9 million deficit in 2018)
14. Ireland: $948.4 million (up 184.9%)
15. Chile: $836.5 million (up 196.5%)

On a percentage basis from 2018 to 2019, the US expanded its crude oil surpluses at the fastest pace with France (up 214.7%), Chile (up 196.5%), Thailand (up 187.8%), Ireland (up 184.9%), Spain (up 109.2%) and Singapore (up 101.1%).

There were 2 percentage decliners year over year namely Japan (down -23.4%) and China (down -46.6%). In addition, US trade with Australia went from a -$41.9 million in red ink trading crude oil in 2018 to a healthy $987.8 million surplus for America in 2019.