U.S. Sets Record In 2024 With 30% Of Energy Production Exported Globally – EIA

In 2024, the United States exported about 30% of the energy it produced, showing a steady rise in exports over recent decades. Data from the Monthly Energy Review highlights that nearly all of these exports were fossil fuels sent to countries across North America, Europe, and Asia. The year marked a significant milestone, with the U.S. setting records for both energy production and exports. Out of the total 103 quadrillion British thermal units (quads) of primary energy produced, 31 quads were exported, which is also a record. The energy left after exports does not directly equal domestic consumption, since U.S. consumption also accounts for imports and withdrawals from storage.

The Monthly Energy Review uses British thermal units (Btu) as a common unit to compare different energy sources. This allows the measurement of energy from crude oil, natural gas, coal, or other fuels on the same scale. In 2024, the U.S. exported 55% of its crude oil and natural gas plant liquids production, either directly or after being processed into products such as propane, gasoline, or distillate fuel oil. Over the past decade, U.S. crude oil and petroleum exports have grown significantly, while domestic demand has risen only modestly and imports have declined.

A large part of the increase in U.S. petroleum exports went to Europe and Asia. Several factors made this possible, including the lifting of restrictions on crude oil exports in 2016, an expansion of exporting infrastructure, and Europe’s 2022 ban on seaborne crude oil imports from Russia. These conditions created a stronger demand for U.S. energy, allowing exports to expand to record levels.

Natural gas was another major part of the export growth story. In 2024, the U.S. exported about 20% of its dry natural gas production. Like crude oil, natural gas exports grew faster than domestic demand and imports during the past decade. This was driven in part by increased liquified natural gas (LNG) export capacity within the U.S. and a surge in European demand after Russia reduced its pipeline shipments to the continent following the Ukraine conflict in 2022. Europe and Asia remained the key destinations for U.S. natural gas exports, reflecting the global shift in supply chains.

Coal exports also played an important role, even though the domestic market for coal has been shrinking. In 2024, the United States exported about 25% of its coal production. Coal exports went mainly to Asia and Africa, while shipments to Europe declined. This trend comes as the U.S. has retired many coal-fired power plants over the past decade, which has reduced domestic consumption and production of coal.

Among export destinations, Mexico stood out as the largest buyer of U.S. crude oil, petroleum products, and natural gas in 2024. India was the leading destination for U.S. coal exports, while the Netherlands, with its major storage and trading hub in Rotterdam, became a key entry point for U.S. energy shipments into Europe. Rotterdam’s role as a distribution hub means U.S. petroleum, natural gas, and coal exports sent there may later be rerouted to other European countries.

These records highlight how the U.S. energy market has shifted into a major supplier for global demand, with fossil fuel exports leading the way.