US oil imports from Saudi Arabia hit zero in July for first time in 40 years

CommodityGeopolitics Impact 4
โดย Investing.com·USSA·Read original
Summary · why it matters

US imports of Saudi Arabian oil fell to zero in July, marking the first full month without such shipments since 1985, according to preliminary government data. The halt stems from disruptions caused by the US-Iran conflict, which largely shut down Persian Gulf crude flows, and US Department of Energy data confirmed the complete stoppage. This is a sharp drop from earlier this year when US refiners were purchasing more than 800,000 barrels of Saudi oil daily. Phillips 66 reduced its Middle Eastern crude share to less than 1%, while other major buyers like Chevron and PBF Energy have historically relied on Saudi oil. Venezuela has benefited, with US imports of its crude rising to around 600,000 barrels in July from roughly 100,000 at the start of the year, though Saudi shipments are forecast to rebound to about 300,000 barrels a day this month.

Impact on stocks 4

Energy▲ · 2 stocks
Chevron Corp
CVX
± MixedSupplyrelevance

Chevron historically relied on Saudi oil; halt in imports may affect supply but impact unclear.

PBF Energy Inc
PBF
± MixedSupplyrelevance

PBF Energy historically relied on Saudi oil; halt in imports may affect supply but impact unclear.

Synthetic Biology (non-pharma)▼ · 1 stocks
Phillips 66
PSX
▼ NegativeSupplyrelevance

Phillips 66 reduced Middle Eastern crude share to less than 1%, indicating reduced reliance but potential supply disruption.

Consumer Staples▲ · 1 stocks
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