US increased import of Russian oil to a ten-year high

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US increased import of Russian oil to a ten-year high
US increased import of Russian oil to a ten-year high
25 March, 09:20Economy
At the end of last year, the import of oil and oil products from Russia to the United States increased to 538 thousand barrels per day. This became a record figure in a decade. The share of Russian supplies in the total volume increased to a maximum of 7%.

According to the Energy Information Administration of the US Department of Energy, in annual terms, the supply of oil and oil products from the Russian Federation increased by 3.5%. Thus, Russia has become the second largest exporter of hydrocarbons to the United States, overtaking Saudi Arabia.

According to RIA Novosti, the share of Russia in the average daily imports of oil and oil products from the United States 20 years ago did not exceed 1%, and now it has soared to an unprecedented 7%.

Experts point out that the maximum indicators were achieved due to the oil product component. The export of oil from Russia to the United States last year fell by 45% (to 73 thousand barrels per day, that is, to the level of 2018). Thus, Russia ranked eighth in terms of oil exports to the United States alone.

It's worth reminding that the production of Russian oil last year decreased by 8.6%, to 512.8 million tons.

The export of "black gold" also fell - by 12%, and continued to decline already in 2021.

Russia is cutting oil production under the OPEC+ agreement. Oil-producing countries have agreed to cut production because in the world, against the background of the coronavirus pandemic and the lockdown introduced, the demand for oil has decreased, and the price for it has fallen.

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