Oil imports are trending down and stand approximately 7.5 million barrels per day, which is the lowest level since the year 2000. This number hit its highest on a 4-week average basis of around 10.5 million barrels being imported back in 2006.
This is a reduction of 3 million barrels per day, and when you start adding these reductions up, one can see the magnitude of oil that is no longer coming to the United States. Take 3 million barrels times 7 days in a week, and we get a reduction of 21 million barrels of oil for a week.
I broke the numbers down this way so that readers could wrap their minds around the numbers, and how they were derived. The numbers will fluctuate on a monthly basis due to how many days are in a month.