US crude oil imports from Saudi Arabia fell to zero in July due to supply disruptions in the Gulf region that forced refiners to find alternative sources. This was the first time since 1985 that there were zero imports for the whole month. Affected by the Hormuz Strait conflict, US refiners cut Middle Eastern crude oil purchases, and Venezuela became an important alternative source, and its exports to the US rose to about 600,000 barrels per day. Saudi crude oil imports to the US are expected to rebound to about 300,000 barrels per day this month, according to Kepler data.

US crude oil imports from Saudi Arabia fell to zero in July due to supply disruptions in the Gulf region that forced refiners to find alternative sources. This was the first time since 1985 that there were zero imports for the whole month. Affected by the Hormuz Strait conflict, US refiners cut Middle Eastern crude oil purchases, and Venezuela became an important alternative source, and its exports to the US rose to about 600,000 barrels per day. Saudi crude oil imports to the US are expected to rebound to about 300,000 barrels per day this month, according to Kepler data.