This chart shows trends in total U.S. petroleum product production, consumption, and trade from 1949 to 2023. Consumption has risen fairly steadily overall, with notable drops following the oil price shocks and supply or demand disruptions of 1974, 1979, 2008, and 2020. Starting with the economic recession of 2008, consumption stayed relatively constant for the first extended period in the past 60 years. This changed in 2020, when it dipped to the lowest level since 1996 as a result of the COVID-19 pandemic. Petroleum imports peaked in 2005 and have since been declining, largely because of increased domestic production. In 2020, the United States became a net exporter.

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