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Italy Increase US Crude Imports as Russian Imports Dip

OIL

Italy’s imports of crude from the US climbed to 664k tons in August from 505k tons in July according to government data last week. The US imports were the highest in monthly data since at least three years since Jan 2019.

  • Russia is the largest supplier despite a fall in flows last month. The Lukoil ISAB refinery in Sicily has been supplied with Russian Urals with alternative supplies uncertain after the introduction of the EU ban on Russian seaborne crude on Dec 5.
  • Total imports fell slightly to 5.57m tons in August from 6m tons in July
    • Russian 1.18m down from 1.29m
    • Libya 1.05m up from 300k
    • US 664k tons up from 505k
    • Iraq 600k down from 886k
    • Azerbaijan 532k down from 800k
    • Saudi 412k up from 375k
    • Kazakhstan 329k down from 384k
    • Nigeria 218k up from 175k
    • Gabon 167k down from 198k
    • Angola 137k down from 276k
Energy BulletsCommodities
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