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Economic Profile and Trends Value of Shipments | Annual Production | Labor Productivity The U.S. petroleum industry is a strong contributor to the economic health of the United States, providing $219 billion in annual shipments and employing over 101,000 people in 2001. [DOC 2001] The wage paid to production workers in petroleum refineries is the highest in the nation, about $27.40 per hour, almost $4 higher than the petroleum industry as a whole. [DOC 2001] The United States is the largest, most sophisticated producer of refined petroleum products in the world, representing about 29% of global production. At the end of 2000 the United States had 150 operating refineries and 16.6 million barrels per day of crude oil distillation capacity. [DOE/EIA 2000] The petroleum industry has been dramatically impacted over the last three decades by geopolitical disruptions and volatile world oil prices. Today refiners must deal with volatile crude prices, crude quality variability, low marketing and transport profit margins, and the increasing capital and operating costs of environmental compliance. Refiners also import about 50% of crude oil and other feedstocks from foreign producers. [DOE 1998]
Source: DOC 1994, DOC 2001, ITA 2001, NSF 1997 Refinery shipments have increased 1% annually over the last decade Annual Production Over 6 billion barrels of refined products are produced each year Labor Productivity The labor productivity of refinery workers increased by 3% annually over the last ten years Page last modified on
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