US Saudi Oil Imports Hit Zero in July for First Time Since 1985
US crude imports from Saudi Arabia fell to zero in July, the first full month without any since 1985, as refiners pivoted to Venezuelan barrels amid Middle East supply disruptions.
Preliminary US government data show that American refiners imported no Saudi Arabian crude in July, marking the first full month without Saudi oil since 1985. This is a sharp reversal from March, when daily purchases exceeded 800,000 barrels.
The shift follows the closure of the Strait of Hormuz and disruptions tied to broader Iran War-related tensions, which pushed Middle Eastern crude prices higher and prompted refiners to seek alternative supplies.
Venezuela emerged as the primary replacement. US imports of Venezuelan crude surged to about 600,000 barrels per day in July, up from roughly 100,000 barrels per day at the start of the year.
Global oil trade flows are undergoing a historic realignment as traditional supply routes are redrawn.
Source: The Kobeissi Letter