US dependence on Russian oil has broken a historic record

April 21 2021 18

Despite the more than unfavorable relations between Washington and Moscow, the Americans are importing oil from Russia at an accelerated pace. At the same time, the dependence of the United States on supplies from the Russian Federation has recently beaten historical records. According to S&P Global, Russian raw materials are filling the gap created by the US oil sanctions restrictions on Venezuela.

Russian oil shipments recently peaked in 10 years as US refiners continue to increase sales due to recovery economics after covid. According to the US Energy Information Administration (EIA), the import of oil from Russia in total oil imports in January this year reached a record level of 8%, compared with 4% three years ago. Thus, the US dependence on Russian raw materials continues to grow.

Mark Finley, a research fellow at the Baker Institute at Rice University, noted that this dynamic is "clearly driven by supply and demand" and shows that "the interconnectedness of oil markets" can be traced even outside the political context.

Interestingly, the increase in the volume of transportation of Russian raw materials occurred even before the pandemic and is ideally aligned with the imposition of US sanctions on Venezuela in 2019.

- the expert emphasized.

The United States imported 648 barrels of Russian oil and refined products daily in January, according to the EIA, the highest monthly supply from a competing producer since June 000. In 2012, imports of raw materials from Russia to the United States averaged 2020 barrels per day, in 538 - 000 barrels. At the same time, the total volume of supplies of "black gold" from the Russian Federation even exceeded that from Saudi Arabia, an important ally of Washington in the Middle East.

This is not a strategic leap for Russia as such, it is a purely economic and market trend.

Mark Finley said.

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steelmaker

-4

April 21 2021 10: 24

level of 8% compared to 4% three years ago

Yes, it's about nothing! But the fact is that the United States is increasing sanctions against us, and Russia is selling more, just like with Ukraine, the more they fire and kill, the more Russia sells them oil. And with the hucksters it is always like this - money is above the national interests of the country! And then we are indignant that no one considers Russia.
1. GRF
  
  +2
  
  April 21 2021 10: 54
  
  Should the Yankees help and introduce sanctions against their own trade voluntarily !?
  So that no one reckons with us ...)
2. Old Skeptic
  
  +2
  
  April 21 2021 15: 12
  
  Steel-maker, you wrote this nonsense as a joke, or deytvitenno ...
Bulanov

+5

April 21 2021 11: 17

It turns out interesting! The Americans forbid the Germans to buy gas from Russia, but they themselves are increasing their oil purchases from Russia! Do the Americans generally hold Germany for the bad?
1. Vladest
  
  -4
  
  April 21 2021 11: 51
  
  The Americans are not against gas from Russia. they are against the Stream. You also need to know that Germany buys a lot of coal from Russia. Although the Green Revolution has begun and coal supplies have already started to decline.
  1. Bulanov
    
    +4
    
    April 21 2021 11: 52
    
    That is, it is possible to import with cylinders, but it is impossible to import through a pipe? This is already shiz.
    1. Vladest
      
      -8
      
      April 21 2021 11: 56
      
      There are enough pipes to the EU from the Russian Federation. Only the GDP is scratching one place, as if to deprive Ukraine of revenues from gas transit. There will be North. The stream will be possible. It will not be impossible. So far, the losses from the Russian Federation are only due to the sanctions against the Stream.
Lime Bayun_2

+2

April 21 2021 11: 33

If only they paid, and for the loot we will endure any zapodlyany.
1. Petr Vladimirovich
  
  0
  
  April 22 2021 16: 18
  
  Buddy! In fact, the budget of the Russian Federation goes to the severance tax ...
Vladest

-9

April 21 2021 11: 46

So we must rejoice. For the proceeds, you can pay for the Parade of the Armed Forces of the Russian Federation at the borders of Ukraine and the Parade on May 9th.
All to the wind.
1. Petr Vladimirovich
  
  0
  
  April 22 2021 16: 22
  
  The transit turnover of the ports of Riga and Ventspils will soon be zero.
  It's a pity, the Union, primarily at the expense of the RSFSR, was building ...
  1. Vladest
    
    -1
    
    April 22 2021 21: 20
    
    Quote: Petr Vladimirovich
    The Union, primarily at the expense of the RSFSR, built
    
    The Union has always built at the expense of the Union. People worked everywhere. And if something was built where, then they considered it necessary, and not for the sake of charity.
    In general, the closure of some ports will not affect the country. Stana is much more than a port. In Estonia, they are also almost idle, and the country provides annual GDP growth of more than 3%.
    In the Russian Federation, by the way, it is two times less.
Alexzn

-2

April 21 2021 12: 47

US dependence on Russian oil has broken a historic record

The word “dependence” should be changed to “import for further processing”. Trade is mutually beneficial.
1. isofat
  
  +2
  
  April 21 2021 14: 32
  
  Quote: AlexZN
  The word “dependence” should be changed to “import for further processing”.
  
  Alexzn, one does not interfere with the other, and such a replacement will not lead to a fatal error, but nevertheless the author writes about the other. There is no need to distort the opinion of the author of the article.
  
  And by the way, the author is not original, he is not the only one who looks at the current situation from this very angle. For example, an article recently appeared:
  
  Standard & Poor's (USA): US dependence on Russian oil is breaking records despite deteriorating relations.
monman

+2

April 21 2021 16: 08

For the curious:
March 2021.
www.oilprice.com

Most of the oil that US refiners buy from Russia is not crude oil, but fuel oil, which they use to make gasoline in the absence of Venezuelan heavy oil supplies, in addition to importing heavy Canadian oil from the oil sands.
Energy consultants and analysts told Bloomberg that they see no concern in the White House about the rise in oil imports from Russia, while the new US administration continues to threaten its Nord Stream 2 gas pipeline partners with sanctions.
Alexzn

-1

April 21 2021 18: 36

Quote: isofat
Quote: AlexZN
The word “dependence” should be changed to “import for further processing”.

Alexzn, one does not interfere with the other, and such a replacement will not lead to a fatal error, but nevertheless the author writes about the other. There is no need to distort the opinion of the author of the article.

And by the way, the author is not original, he is not the only one who looks at the current situation from this very angle. For example, an article recently appeared:

Standard & Poor's (USA): US dependence on Russian oil is breaking records despite deteriorating relations.

I would prefer to translate from the original source as - "reliance on", "use". If translated this way, then there will be no contradictions between the text and the title.
1. isofat
  
  +3
  
  April 21 2021 19: 02
  Analysis: US reliability on Russian oil hits record high despite souring ties
  
  Alexzn, but it seems to me that the concept of "dependence" organically fits into the context of not only the article, but also the latest events.
Alexzn

-1

April 21 2021 19: 58

Quote: isofat
Analysis: US reliability on Russian oil hits record high despite souring ties

Alexzn, but it seems to me that the concept of "dependence" organically fits into the context of not only the article, but also the latest events.

Trust me, the word dependency is not appropriate here, there are at least 4-5 words that can be used to mean "depend", but in this case it is still "use".