U.S. could end net oil imports by 2035

Contributed to PortNews by Ship & Bunker

The U.S. could bring its net oil imports down to zero by 2035 if it reduced consumption while increasing production at a relatively quick rate, the U.S. Energy Information Administration (EIA) has said.

The projection comes from the most dramatic scenario in a new EIA analysis, in which technical improvements for recovering tight oil resources, new oil discoveries, and reduced oil consumption make the U.S. a net exporter of oil in the mid-2030s.

Another scenario, which includes the same assumptions about oil production without the changes in demand, predicts a decline in net imports to 7 percent in 2040, while a reference case puts net imports at 37 percent that year.

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