U.S. Energy Production And Exports Reach Record Highs In 2024 – EIA

In 2024, the United States continued its trend of producing more energy than it consumed, marking another year of surplus energy production. This contributed to a record high in energy exports, which reached 30.9 quadrillion British thermal units (quads), up 4% compared to 2023. At the same time, energy imports remained steady at 21.7 quads, resulting in a net export of 9.3 quads—the highest recorded since 1949.

Total energy consumption in the U.S. in 2024 stood at 94.2 quads, which is still below the peak level of 99.0 quads seen in 2007. Petroleum remained the largest source of energy consumed, totaling 35.3 quads, a figure consistent with the past three years. Natural gas consumption rose to an all-time high of 34.2 quads, mainly due to increased use in electricity generation.

Renewable energy consumption also saw growth in 2024, increasing by 5% to reach a record 8.6 quads. This growth was primarily driven by increased use of biofuels, wind, and solar energy. Nuclear energy consumption held steady at 8.2 quads, while coal consumption dropped to 7.9 quads—the lowest level since records began in 1949.

On the production side, U.S. primary energy output reached a record 103.3 quads in 2024, continuing a three-year trend of record-breaking production. Significant contributors to this growth included natural gas, crude oil, natural gas plant liquids, wind, biofuels, and solar—all of which either reached or tied previous records.

U.S. energy exports set new records across several categories. Petroleum products led the way with 11.5 quads, making up 37% of all energy exports. Crude oil exports followed with 8.6 quads, or 28% of the total. Natural gas exports rose to 7.8 quads, supported by ongoing growth in liquefied natural gas shipments. Coal exports hit 2.6 quads and have been increasing every year since 2020. Other exports such as biomass, electricity, and coal coke together made up 1% of the total.

Crude oil remained the largest energy import, accounting for 67% of total energy imports in 2024. The U.S. often imports crude oil, refines it into products like gasoline and jet fuel, and then exports those finished products.

These data are based on the Monthly Energy Review, where different energy sources are converted into British thermal units to make meaningful comparisons across types.