The vast majority of the oil consumed and utilized within the United States is domestically produced, with the remaining balance imported from key international trade partners like Canada, Mexico, and various Latin American producers. Domestically, rich oil-producing regions such as the Permian Basin in Texas and New Mexico, the Eagle Ford shale, the Bakken formation in North Dakota, and offshore federal waters in the Gulf of Mexico supply the lion's share of petroleum. This strong domestic production capacity has transformed the United States into a leading global net exporter of crude oil and refined petroleum products.