In March 2005, the U.S. imported 65% of all the oil it consumed. About 30% of those imports came from its immediate neighbors: 16% from Mexico and 14% from Canada. Slightly more than two-thirds of U.S. oil imports came from five countries.
Suggested citation: “Oil Prices,” Federal Reserve Bank of Cleveland, Economic Trends, no. 05-07, pp. 09, 07.01.2005.