Bloomberg: US Crude Oil Imports from Saudi Arabia Hit Zero in July for First Time Since 1985

According to the US trade publication Transport Topics, citing Bloomberg, published Thursday, August 6, 2026 (15 Mordad 1405), US imports of Saudi Arabian crude oil dropped to zero in July, the first time that has happened for a full month in more than 40 years, since 1985. Citing preliminary US Department of Energy data released on August 5, the report said US bound shipments of Saudi crude ground to a halt in July, even though US refiners had been buying more than 800,000 barrels a day from Saudi Arabia earlier this year. Iran's IRNA news agency carried the same Bloomberg report the same day.

Bloomberg said Saudi oil exports have been disrupted for months by the US Iran conflict, which has largely shut down Persian Gulf crude flows. Phillips 66 chief executive Mark Lashier said on August 5 that the company had cut the share of Middle Eastern crude processed at its refineries to under 1 percent, instead sending light US crude to its New Jersey refinery. Chevron and PBF Energy are among other traditional buyers of Saudi crude, while Motiva Enterprises' refinery in Port Arthur, Texas, wholly owned by the Saudi state oil company, normally processes Middle East barrels.

Venezuela was the biggest beneficiary of the shift away from Saudi crude, the report said: US refiners imported roughly 600,000 barrels a day of Venezuelan crude in July, up from about 100,000 barrels a day at the start of the year. According to Kpler data, Saudi oil shipments to the US may rebound to about 300,000 barrels a day this month, in line with recent historical norms.