Russia is one of the 3 largest crude oil producers in the world, after the U.S. and Saudi Arabia. European countries - which have not banned Russian energy imports - generally import more of Russia’s oil and petroleum products than the U.S.
Washington, March 24 - Neftegaz.RU.
The United States has imported a relatively small share of Russian oil
, but U.S. imports of petroleum products from Russia - namely, unfinished oils and fuel oil - is a larger share, the EIA
U.S. refineries use imported unfinished oils and fuel oil as a supplement to crude oil
in the refining process.
On March 8, President Biden announced
a ban on U.S. imports of petroleum, coal, and gas from Russia in response to Russia’s invasion into Ukraine.
The ban includes crude oil and petroleum products.
In 2021, imports from Russia accounted for 8% of all U.S. petroleum imports, which incl. the 3% share of crude oil imports and the 20% share of petroleum product imports.
More than half of U.S. total petroleum imports from Russia in 2021 were unfinished oils.
A substantial share of the unfinished oils from Russia are classified as Mazut-100 fuel oil, or M-100.
M-100 is largely consumed as a supplementary refinery input and has qualities similar to a heavier, relatively high-sulfur
Crude oil imports made up 29% of the combined petroleum imports by volume from Russia in 2021 and accounted for the 2nd
-largest share after unfinished oils.
-largest share of imports from Russia by volume was motor gasoline
, incl. finished motor gasoline and blending components, at 9%.
-largest share of combined U.S. petroleum imports from Russia was residual fuel oil, making up 4% in 2021.
Residual fuel oil is often consumed in the U.S.
as a marine bunker fuel, but residual fuel oils with relatively high sulfur content do not meet U.S. marine bunker fuel specifications.
Instead, high-sulfur residual fuel oil may be used as a refinery feedstock, similar to the M-100 unfinished oils.
Some crude oil imports from Russia
may still appear in the coming weeks as shipments are delivered from waterborne cargoes that were in transit before the import ban became effective.
The EIA did not include the effects of this ban as part of the March outlook, but it will include them in its next outlook, scheduled for release on April 12.