US is third largest importer of OPEC oil
...That appears to give US producers a lot of room for growth as they increase production. It also hints at how fragile OPEC has become that losing a portion of the US market has cause the price to drop in half.
... U.S. imports of OPEC crude are up nearly 20 percent compared to year-ago levels, at an average of 3.2mn bpd – putting the U.S. in third place. But is the demand hubs of China and India that pull in more crude from the cartel; together they account for 7.4 million barrels per day, with China pulling in slightly more.
Japan is the fourth largest importer of OPEC crude, although volumes are flat on year-ago levels at 2.75mn bpd. South Korea is fifth, pulling in 2.45mn bpd, up 7.5 percent on year-ago levels. Eighty-eight countries have received OPEC crude since the beginning of last year.