U.S. Oil Imports from Saudi Halted
US Energy Department data shows that U.S. imports of Saudi oil dropped to zero in July 2026, marking the first complete halt of Saudi crude shipments to the American market since 1985. This comes amid increasing disruptions in regional exports due to tensions between Washington and Tehran, prompting U.S. refineries to diversify their sourcing, with a growing reliance on Venezuelan oil. Some companies, like Phillips 66, have reduced their Saudi oil imports, with expectations that Saudi shipments will gradually resume to around 300,000 barrels per day. This situation is extraordinary, as July 2026 is the first full month in over four decades during which the U.S. did not import any Saudi oil.
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