Daily Management Review

Eurostat names main oil exporter to EU


By the end of 2022, the United States will overtake Russia in terms of oil shipments to the European Union, with Russia's share falling from 31% to 4%, according to a study released on Tuesday by the European statistical agency Eurostat.

Jernej Furman
Jernej Furman
Its data indicates that between the fourth quarter of 2021 and January 2022, Russia's oil imports were expected to be between 40 and 50 million barrels per month, or 24% and 31% of all imports into the EU. At the period, the United States held a 10–13% share.

Norway and Kazakhstan both sold the EU roughly the same amounts of oil.

Russia's portion of the EU oil market fluctuated after the start of the special operation in Ukraine; in February and April, it was 33% and 30%, respectively. At the same time, this percentage fell to 18% in March.

However, when sanctions against Russian oil started to take effect in December, its market share in the EU dropped to 4% of all shipments, as noted by Eurostat.

When compared to December 2021, the U.S. raised its proportion of supplies to the EU by 6% to 18% at the same time, taking the top spot in terms of oil exports to the EU. Additionally substantially increasing their shipments to the EU were Libya, Great Britain, and Norway.

source: ec.europa.eu