Saudi Oil Imports to US Plummet to Zero Amid Iran Conflict

For the first time in over four decades, US oil imports from Saudi Arabia have fallen to zero. According to preliminary government data released on August 6, there were no shipments of Saudi crude to the US in July.

The halt in imports is attributed to disruptions caused by the ongoing US-Iran conflict, which has severely impacted Persian Gulf crude flows. As a result, US refiners have been forced to seek alternative sources for their oil supplies.

Phillips 66, one of the largest US refiners, has reduced its reliance on Middle Eastern crude to less than 1% in recent weeks. The company has instead opted to use light crude from domestic fields to power its New Jersey refinery.