The United States is now the biggest supplier of crude oil to the European Union
In December, 18% of the bloc’s crude imports came from America, EU data office Eurostat said Tuesday. That is a big turnaround. Russia was until recently the bloc’s top supplier of crude, accounting for as much as 31% of total imports until the end of January 2022, according to Eurostat. The US, meanwhile, came a distant second, with a maximum 13% share. But Moscow’s invasion of Ukraine in February last year led to an upheaval in Europe’s energy supplies.
US crude exports to Europe were rising before the war, though Russia’s invasion had increased the need to ramp up deliveries from alternative sources, said Jay Maroo, a senior analyst at data provider Vortexa. Oil independence Imports of Russian crude into the bloc were volatile between February and April last year, Eurostat said. But from September 2022, they declined gradually, until they made up just 4% of total imports in December.
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