LUXEMBOURG / RankWire.AI / – The European Union saw a 55.8% increase in the monetary value of petroleum oil imports during the second quarter of 2026, despite minimal changes in volume. According to Eurostat, the total import volume reached 36.7 million tonnes, representing a 1.2% rise from the 2025 monthly average. These figures highlight a sharp escalation in import worth without a corresponding increase in physical oil quantities. The data pertains to crude petroleum oils entering the EU from nations outside the bloc.
During the same period, liquefied natural gas (LNG) exhibited a different trend. EU LNG import value increased by 4.1%, while import volume declined by 5.6% from the average of 2025. Imports of natural gas in gaseous form grew in both metrics, with their value rising 18.5% and volume expanding 3.4%. These variations indicate that the primary energy import categories experienced differing rates of change in both monetary value and physical quantity during the quarter.
In the second quarter, the United States supplied 18.8% of the EU’s petroleum oil imports, making it the leading source. Norway followed with 14.3%, while Kazakhstan contributed 13.4%. Collectively, these three countries accounted for 46.5% of the EU’s petroleum oil imports during this period. The rankings among suppliers differed in natural gas categories, with the United States leading LNG shipments and Norway holding the largest share of gaseous natural gas imports.
United States Dominates EU LNG Supply
In the second quarter of 2026, the United States supplied 63.2% of the EU’s liquefied natural gas imports. Russia provided 17.3%, while Algeria accounted for 8.1%. These three suppliers together made up 88.6% of LNG imports during the period. This concentration was notably higher than in petroleum oil, where the top three providers held less than half of the total imports. The figures reflect each supplier’s share of the EU’s energy imports for the specific product.
For gaseous natural gas, Norway supplied 51.2% of EU imports during the quarter. Algeria was the second-largest supplier with 18.2%, followed by the United Kingdom at 11.1%. Russia contributed 10.2%, placing it behind the United Kingdom in this category. Eurostat derived these quarterly figures from Comext trade data and statistical estimates. The energy products analyzed include crude petroleum oils, liquefied natural gas, and natural gas in gaseous form.
Oil Import Values Rebound After 2025 Decline
The second quarter’s rise in import value follows a year in which EU petroleum oil imports decreased both in monetary terms and volume. In 2025, the value of petroleum oil imports declined by 17.8% compared to 2024, with volume dropping 6.1%. Overall, the EU imported €336.7 billion worth of energy in 2025, amounting to 723.3 million tonnes. That year, total energy import value decreased by 11.1%, while overall volume fell by 0.6%. These annual statistics encompass energy imports from outside the EU.
Comparing longer periods, the data also shows that EU energy import totals in 2025 were significantly lower than those recorded in 2022. In 2022, energy imports were valued at €693.4 billion, with a volume of 849.6 million tonnes. By 2025, the value had decreased by 51.4% and volume by 14.9% from those levels. Therefore, the oil figures for the second quarter of 2026 indicate a notable increase in import value compared to the 2025 monthly baseline, while physical quantities remained close to that reference point.