Overview for Total Gasoline All Sales
U.S. oil production has transformed fundamentally in the past decade. After two decades of steady decline, domestic crude oil production grew by nearly 75 percent between 2008 and 2014, and each month since October 2013 production has exceeded net imports, which hadn’t happened since the mid‐1990s. While developments in oil production have been widely reported and appreciated, far less attention has been paid to the remarkable and surprising decline in U.S. petroleum consumption relative to both recent levels and past projections. This page identifies the mechanisms behind the surprising decline. Quantifying the underlying causes improves understanding of why the consumption path has changed, and how it might evolve in the future.