U.S. energy export hits all-time high in 2024

The United States broke a historic record in 2024 by exporting more energy than ever before, a total of 30.9 quadrillion British thermal units (Quads). 

This milestone marks the highest level of net energy export recorded since tracking began in 1949, solidifying the country’s position as a dominant force in global energy markets, according to EIA.

While imports remained steady at 21.7 Quads, the U.S. exported 9.3 Quads more than it imported, making it the largest net exporter of energy in its modern history. 

This surplus reflects both increased production capacity and growing demand abroad for U.S. oil, gas, and refined petroleum products.

Production at historic highs

U.S. primary energy production reached a record 103.3 quadrillion British thermal units (Quads) in 2024, marking a third consecutive year of growth.

This increase was driven by record outputs in natural gas, crude oil, plant liquids, biofuels, solar, and wind energy. 

It’s a clear reflection of the country’s investment in both fossil fuels and renewables.

Energy consumption still below 2007 peak

Despite strong economic activity, total U.S. energy consumption stood at 94.2 Quads, still below the all-time high of 99.0 Quads reached in 2007. 

This suggests ongoing improvements in energy efficiency and shifting consumption patterns.

Oil maintained its position as the leading energy source, with 35.3 Quads consumed, stable for the fourth year in a row.

Meanwhile, natural gas consumption hit a record 34.2 Quads, propelled largely by its expanded use in electricity generation.

Renewables rise, coal declines

Renewable energy consumption grew by 5%, reaching a new record of 8.6 Quads. 

The growth came mainly from biofuels, wind, and solar energy, reflecting ongoing momentum in the transition to cleaner sources.

Nuclear power remained steady at 8.2 Quads, while coal consumption dropped to 7.9 Quads, its lowest level since tracking began in 1949.

Export boom: oil, gas, and more

Thanks to this surplus, U.S. energy exports soared to a record 30.9 Quads in 2024, 4% more than in 2023. 

In contrast, imports held steady at 21.7 Quads, giving the U.S. a net export balance of +9.3 Quads, the highest in over 70 years.

Exports of petroleum products led the pack, totaling 11.5 Quads (37% of total energy exports), followed by crude oil with 8.6 Quads (28%). Natural gas exports rose to 7.8 Quads, driven by the increasing demand for LNG (liquefied natural gas) across international markets.

Coal exports also rose to 2.6 Quads, continuing a trend that began in 2020.

Crude oil: the top energy import

Even as the U.S. exports more, crude oil remains its largest energy import, making up 67% of all energy imports in 2024. 

Much of this imported oil is refined domestically into products like gasoline, diesel, and jet fuel, which are then re-exported, a strategy that underlines the country’s role not just as a producer, but also as a global refining hub.

A sign of strategic strength

These trends reflect the growing energy self-sufficiency of the United States, its continued reliance on fossil fuels, and a measured but evident shift toward renewables. 

For industry players, the message is clear: production is up, exports are thriving, and the U.S. is firmly positioned as a central actor in the global energy market.

U.S. energy export hits all-time high in 2024