US cut oil supplies from Russia and Saudi Arabia in August

In August, the United States reduced oil imports from Russia by 30% compared to the previous month, to less than 1.5 million barrels (47 thousand b/d).

Report says, citing the latest statistics from the US Department of Energy.

Compared to August last year, US imports of Russian oil decreased by 3.7 times. Simultaneously, the US reduced oil imports from Saudi Arabia by 2.4 times in August than the previous month – to 8.277 million barrels (267 thousand b/d). At the same time, this indicator is 1.6 times less than in August 2019 (13 million barrels, or 417 thousand b/d).

As a result, US oil imports from OPEC countries in the reporting month fell by 1.5 times – to 18 million barrels (873 thousand b/d). The US did not import oil from Kuwait in August (compared to 2.1 million barrels in July) and the UAE (148 thousand barrels). Moreover, the volume of oil from Iraq increased by 1.5 times to 6.5 million barrels, from Nigeria – by 4.3 times to 3.3 million barrels. Besides, Angola imports decreased four times in August compared to the previous month and amounted to 58 thousand barrels.

In August 2019, the oil volume imported from OPEC countries was 2.6 times more – 46.5 million barrels. In total, at the end of August 2020, the United States imported 231.4 million barrels of oil and petroleum products, of which 168.4 million barrels of oil (compared to 215.3 million barrels of oil in August 2019).