LUXEMBOURG / RankWire.AI / – European Union experienced a significant increase in petroleum oil import expenditure during the second quarter of 2026, despite nearly unchanged physical volumes. According to Eurostat, the import value surged by 55.8% compared to the monthly average of 2025. The volume of oil imported reached 36.7 million tonnes, representing a 1.2% rise. These figures highlight a notable disparity between the growth in expenditure and the actual quantities entering the EU, indicating that the quarter saw a much larger change in value than in tonnage.
During the same period, EU imports of liquefied natural gas (LNG) followed a different trend. LNG import value grew by 4.1%, while the physical volume decreased by 5.6% from the 2025 monthly average. Meanwhile, natural gas supplied in gaseous form saw increases in both value and volume, with an 18.5% rise in import value and a 3.4% increase in physical volume. These quarterly statistics reflect energy products purchased by EU nations from outside suppliers, offering a direct comparison across the bloc’s primary fossil energy imports.
In the second quarter, the United States remained the leading supplier of petroleum oil to the EU, accounting for 18.8%. Norway was the second-largest source with 14.3%, followed by Kazakhstan at 13.4%. Collectively, these three nations supplied 46.5% of the EU’s petroleum oil imports during this period. The concentration of suppliers was even more pronounced in LNG, where the U.S. commanded a significantly larger share of total imports. The data also reveal distinct supply patterns across oil, LNG, and pipeline natural gas.
U.S. Leads EU LNG Imports
During the second quarter of 2026, the United States supplied 63.2% of the EU’s LNG imports. Russia contributed 17.3%, with Algeria providing 8.1%. These three suppliers made up 88.6% of the LNG imports for the period. This distribution differs markedly from the petroleum oil market, where the top three suppliers held less than half of total imports. The figures indicate each country’s share within the relevant EU energy import category and distinguish LNG trade from gas imported in gaseous form.
Natural gas in gaseous form was predominantly supplied by Norway, with a 51.2% share. Algeria ranked second at 18.2%, followed by the United Kingdom at 11.1%. Russia accounted for 10.2% of these imports. Eurostat compiled this data utilizing Comext trade statistics and estimates. The dataset encompasses crude petroleum oils, liquefied natural gas, and natural gas transported in gaseous form, allowing for a clear comparison of import shares without combining different fuel types.
Recovery in Oil Import Value After 2025 Decline
The increase in petroleum oil import value during the second quarter followed a decline throughout 2025. In that year, EU petroleum oil import value dropped by 17.8% compared to 2024, while physical volumes declined by 6.1%. The entire energy sector saw imports totaling €336.7 billion in 2025, with a volume of 723.3 million tonnes. The overall energy import value decreased by 11.1%, and the volume decreased by 0.6%. These annual figures serve as benchmarks to evaluate the recent quarterly movements in oil, LNG, and gaseous natural gas.
Energy imports for the EU in 2025 remained below the levels of 2022, when the bloc imported €693.4 billion worth of energy, with a volume of 849.6 million tonnes. By 2025, the energy import value had fallen by 51.4% from that peak, and volume was 14.9% lower. Consequently, the second-quarter 2026 oil imports showed a sharp increase in value, with only a modest rise in physical volume compared to 2025’s monthly average. These latest figures suggest that the quarterly oil volume remains close to the same level as last year’s monthly average.