EU oil imports increase amid Middle East crisis
European Union oil imports increased by 55.8% in the second quarter of 2026, despite only a 1.2% rise in imported volumes on an annual basis, according to Eurostat data. The United States was the largest source of European oil, accounting for 18.8% of the total, followed by Norway and Kazakhstan. Additionally, the value of the EU's liquefied natural gas (LNG) imports rose by 4.1%, even though the quantities decreased by 5.6%. The United States held 63.2% of these imports, while Russia accounted for 17.3%. Overall natural gas imports increased by 18.5% in value and 3.4% in volume, with Norway remaining the main supplier at 51.2%.
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