Saudi Arabian Oil Imports to U.S. Halt After Four Decades

According to the International Desk of Webangah News Agency, preliminary data released by the U.S. Department of Energy and reported by Mehr News Agency, citing Russia Today, indicates that Saudi Arabian crude oil imports to the United States fell to zero in July. This development is the first such occurrence in approximately four decades.

Earlier in the year, American refineries were importing over 800,000 barrels of crude oil daily from Saudi Arabia. However, disruptions in the country’s oil exports, stemming from tensions and conflicts between the United States and Iran, as well as interruptions in oil transit through the Persian Gulf and the closure of the Strait of Hormuz, led to a complete halt in imports.

In line with this trend, Phillips 66, a refining company, has reduced the share of Middle Eastern oil in its refinery feedstock to less than one percent.

Concurrently, Venezuelan crude oil imports to the United States have increased, reaching approximately 600,000 barrels per day, a substantial rise from the roughly 100,000 barrels per day recorded at the beginning of the year.