US Halts Saudi Oil Imports, Shifts to Venezuela Amid Hormuz Disruptions
Hyperdash NewsCommoditiesUS imports of Saudi Arabian crude oil fell to zero in July, the first full month without imports since 1985. This marks a sharp reversal from March, when US refiners purchased over 800,000 barrels per day. US refiners sought alternatives after the Strait of Hormuz closure and Iran War disruptions pushed Middle Eastern crude prices higher. Venezuela emerged as the primary replacement, with US imports surging to 600,000 barrels per day in July.
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