From the U.S. Energy Information Administration, Oil and petroleum products explained:
“Crude oil and other liquids produced from fossil fuels are refined into petroleum products that people use for many different purposes. Biofuels are also used as petroleum products, mainly in mixtures with gasoline and diesel fuel.
“Petroleum has historically been the largest major energy source for total annual U.S. energy consumption. We use petroleum products to propel vehicles, to heat buildings and to produce electricity. In the industrial sector, the petrochemical industry uses petroleum as a raw material (a feedstock) to make products such as plastics, polyurethane, solvents, and hundreds of other intermediate and end-user goods.
“In 2021, U.S. petroleum consumption averaged about 19.78 million barrels per day (b/d), which included about a million b/d of biofuels. U.S. total petroleum consumption was about 8% higher in 2021 than the level in 2020 largely because the U.S. economy recovered from the effects of responses to the COVID-19 pandemic. Consumption of most petroleum products in 2021 was higher than in 2020.”
From Business and Economy > International Trade Data:
Source: Manufacturers' Shipments, Inventories and Orders (M3) Survey, 1992-2023.
Source: Monthly Retail Trade, 1992-2023.
Source: Monthly Wholesale Trade: Sales and Inventories, 1992-2023.
Source: Quarterly Financial Report (QFR), 2000-2023.
Source: Quarterly Services Survey (QSS), 2010-2023.
Source: 2021 American Community Survey (ACS) 1-year estimates.
Source: 2018 – 2021 Annual Survey of Manufactures (ASM).
Source: 2021 County Business Patterns (CBP).
Source: 2020 Annual Business Survey (ABS) Program.
Source: 1978-2020 Business Dynamics Statistics (BDS) .