LUXEMBOURG / RankWire.AI / – The European Union saw a 55.8% increase in the value of petroleum oil imports during the second quarter of 2026, with import volumes remaining relatively stable. According to Eurostat, the total import volume reached 36.7 million tonnes, which is a 1.2% rise compared to the monthly average in 2025. These figures highlight a sharp escalation in import value without a corresponding rise in physical oil deliveries. The data pertains to crude petroleum oils imported into the EU from nations outside the bloc.
During the same period, liquefied natural gas (LNG) showed a different trend. EU LNG import value increased by 4.1%, while the volume decreased by 5.6% relative to the 2025 monthly average. Conversely, natural gas in gaseous form experienced growth in both measures, with its value rising 18.5% and volume increasing 3.4%. These observations demonstrate that the three main energy import categories exhibited varying rates of change in both value and physical quantities throughout the quarter.
In the second quarter, the United States provided 18.8% of EU petroleum oil imports, making it the leading supplier. Norway supplied 14.3%, and Kazakhstan contributed 13.4%. Collectively, these three nations accounted for 46.5% of the EU’s petroleum oil imports during this period. When it comes to natural gas, the supplier rankings differ, with the United States leading in LNG shipments and Norway holding the largest share of gaseous natural gas imports.
United States Dominates EU LNG Imports
In the second quarter of 2026, the United States supplied 63.2% of the EU’s liquefied natural gas. Russia contributed 17.3%, and Algeria accounted for 8.1%. These three sources together made up 88.6% of LNG imports during this timeframe. The concentration of supply sources was notably higher than in petroleum oil, where the top three suppliers held less than 50% of the market. These figures reflect each partner’s share of EU imports for the respective energy types, as compiled by Eurostat from Eurostat data and statistical estimates. The energy products analyzed include crude petroleum oils, liquefied natural gas, and natural gas in gaseous form.
Norway supplied 51.2% of EU natural gas imports in gaseous form during the quarter. Algeria followed with 18.2%, and the United Kingdom provided 11.1%. Russia accounted for 10.2%, placing it behind the United Kingdom in this category. The quarterly figures were derived from trade data in Comext and statistical estimates, covering crude petroleum oils, LNG, and gaseous natural gas imports.
Oil Import Values Rise in Q2 After 2025 Decline
The increase in oil import value during the second quarter comes after 2025 saw declines in both value and volume for EU petroleum oil imports. In 2025, the import value decreased by 17.8% compared to 2024, while volumes fell by 6.1%. The overall energy imports into the EU for that year reached €336.7 billion, totaling 723.3 million tonnes, with the total value dropping by 11.1% and volume decreasing by 0.6%. These annual figures encompass energy imports from outside the EU.
A longer-term comparison reveals that EU energy import totals in 2025 were still lower than those recorded in 2022, when imports were valued at €693.4 billion and volumes reached 849.6 million tonnes. By 2025, the import value had fallen by 51.4%, and volume had declined by 14.9% from those 2022 levels. Consequently, the oil figures for the second quarter of 2026 indicate a significant uptick in import value compared to the 2025 monthly benchmark, while physical volumes stayed close to that reference point.