Then & Now: Structural shifts in oil market trade
Editor's Note: This episode was recorded mid-February 2026.
In this Then & Now episode of the Oil & Gas Journal ReEnterprised podcast, Laura Bell-Hammer examines how US crude oil imports have evolved from structural dependence in the mid-1990s to today’s model of strategic grade optimization.
Using historical and current data, the episode traces how refinery configuration, shale-driven production growth, regional pipeline integration, and shifting geopolitics reshaped US trade flows over three decades. From OPEC’s dominant role in 1995 to Canada’s system-critical position today and the reemergence of Venezuelan barrels under evolving sanctions policy...this episode explores how long-cycle capital investment and policy decisions continue to influence refinery economics and supply strategy.
About the Author
Laura Bell-Hammer
Statistics Editor
Laura Bell-Hammer is the Statistics Editor for Oil & Gas Journal, where she has led the publication’s global data coverage and analytical reporting for more than three decades. She previously served as OGJ’s Survey Editor and had contributed to Oil & Gas Financial Journal before publication ceased in 2017. Before joining OGJ, she developed her industry foundation at Vintage Petroleum in Tulsa. Laura is a graduate of Oklahoma State University with a Bachelor of Science in Business Administration.