Navy mobility fuels forecasting system report: World petroleum trade forecasts for the year 2000

The Middle East will continue to play the dominant role of a petroleum supplier in the world oil market in the year 2000, according to business-as-usual forecasts published by the US Department of Energy. However, interesting trade patterns will emerge as a result of the democratization in the Soviet Union and Eastern Europe. US petroleum imports will increase from 46% in 1989 to 49% in 2000. A significantly higher level of US petroleum imports (principally products) will be coming from Japan, the Soviet Union, and Eastern Europe. Several regions, the Far East, Japan, Latin American, and Africa will import more petroleum. Much uncertainty remains about of the level future Soviet crude oil production. USSR net petroleum exports will decrease; however, the United States and Canada will receive some of their imports from the Soviet Union due to changes in the world trade patterns. The Soviet Union can avoid becoming a net petroleum importer as long as it (1) maintains enough crude oil production to meet its own consumption and (2) maintains its existing refining capacities. Eastern Europe will import approximately 50% of its crude oil from the Middle East.