Recent unemployment figures suggest that the U.S. economy is finally getting back on track, even though the progress has been slow. The outlook for 2012 is looking up and the buzz is that the coming year will be better than the last. A major factor influencing this delicate economy is, yes you guessed it, oil.

The price per kilogram of U.S. oil imports (by vessel) in 2011 was about $0.75, up about $0.20 from 2010 figures. The figure below illustrates the price per kilogram of U.S. imports of crude oil by quarter. The price per kilogram plummeted in 2009, along with the U.S. economy. Prices steadily began to rise and peaked in Q2 of 2011, reaching the highest price per kilogram seen in almost three years.

According to Zepol’s TradeView™, in 2011 approximately 20% of U.S. oil imports originated in Canada and 13% originated in Saudi Arabia. Mexico ranks third on the list with a market share of about 12%.  To see additional statistics, visit Zepol's page on HTS Code 2709.00.