LUXEMBOURG / RankWire.AI / – The second quarter of 2026 saw a significant rise in the monetary value of European Union petroleum oil imports, increasing by 55.8%, despite only a modest change in import volume. According to Eurostat, the volume of oil brought into the EU reached 36.7 million tonnes, reflecting a 1.2% increase from the monthly average of 2025. These figures indicate a sharp escalation in import value that is not mirrored by a corresponding rise in physical oil shipments. The data specifically pertains to crude petroleum oils entering the EU from nations outside the bloc.
In contrast, liquefied natural gas (LNG) exhibited a different trend during the same period. EU LNG import value increased by 4.1%, while the volume of imports decreased by 5.6% compared to the 2025 monthly average. Meanwhile, natural gas in gaseous form saw increases in both value and volume, with the former climbing 18.5% and the latter rising 3.4%. These findings illustrate that the three main categories of energy imports experienced different rates of change in both their monetary and physical quantities during the quarter.
During this period, the United States supplied 18.8% of the EU’s petroleum oil imports, making it the largest single source. Norway followed with 14.3%, and Kazakhstan supplied 13.4%. Collectively, these three nations accounted for 46.5% of the EU’s petroleum oil imports in the second quarter. The leading countries for natural gas imports varied depending on the category, with the United States topping LNG shipments and Norway having the largest share of gaseous natural gas imports.
United States Dominates EU LNG Imports
In the second quarter of 2026, the United States contributed 63.2% of the EU’s liquefied natural gas imports. Russia supplied 17.3%, and Algeria accounted for 8.1%. These three suppliers combined made up 88.6% of all LNG imports during this period. This concentration was notably higher than in petroleum oil, where the three leading suppliers represented less than 50% of total imports. The figures specifically reflect each partner’s proportion of EU imports for the respective energy type.
For gaseous natural gas, Norway provided 51.2% of the EU’s imports, with Algeria in second place at 18.2% and the United Kingdom holding 11.1%. Russia supplied 10.2%, placing it behind the UK in that category. The quarterly data from Eurostat, sourced from Comext trade statistics and estimates, include crude petroleum oils, liquefied natural gas, and natural gas in gaseous form.
Oil Import Value Bounces Back After 2025 Drop
The rise in oil import value in Q2 2026 follows a year in which EU petroleum oil imports declined both in monetary and physical terms. In 2025, the value of petroleum oil imports fell by 17.8% from 2024, and the volume decreased by 6.1%. Overall, the EU imported €336.7 billion worth of energy in 2025, totaling 723.3 million tonnes. That year, total energy import value dropped by 11.1%, and overall volume declined by 0.6%. These annual figures account for energy imports from outside the EU.
Looking at a longer timeframe, energy import totals in the EU remained below the levels seen in 2022. In 2022, energy imports were valued at €693.4 billion, with a volume of 849.6 million tonnes. By 2025, both the import value and volume had fallen by 51.4% and 14.9%, respectively, from those figures. Consequently, the second-quarter 2026 oil import figures represent a notable rebound in value compared to the 2025 monthly average, while physical volumes stayed near that benchmark.