United States crude oil imports dropped to zero in July for the first full month in more than 40 years

On 7 August, according to preliminary United States Government data, United States imports of crude oil from Saudi Arabia dropped to zero in July this year, the first time since 1985 that Saudi crude oil had not been imported throughout the month. Data released by the United States Department of Energy on Wednesdays of local time indicate that the shipment of Saudi crude oil destined for the United States in July was completely suspended. This decrease was significant given that the United States refinery purchased more than 800,000 barrels of Saudi crude oil a day earlier this year. As a result of the closing of the Strait of Hormuz and other war-related disruptions, which pushed up the price of crude oil linked to the global baseline price, the United States refinery has been looking for alternative supplies of Saudi crude oil. Saudi crude oil delivery to the United States has historically fallen to zero in individual weeks, but July was the first time in more than 40 years that the entire month fell to its lowest level. According to Kpper, United States crude oil imports from Saudi Arabia are expected to resume this month to approximately 300,000 barrels per day, consistent with recent historical normal levels。