LUXEMBOURG / RankWire.AI / – In the second quarter of 2026, the European Union saw a 55.8% jump in the monetary value of petroleum oil imports, despite volumes remaining relatively stable. According to Eurostat, the import volume reached 36.7 million tonnes, representing a 1.2% increase from the monthly average of 2025. These figures highlight a significant rise in import value without a corresponding increase in physical oil deliveries. The data pertains to crude petroleum oils entering the EU from nations outside the union.
LNG experienced a different trend in the same quarter. EU LNG import value increased by 4.1%, even though import volume declined by 5.6% compared to the 2025 monthly average. Meanwhile, natural gas in gaseous form saw growth in both metrics, with value rising 18.5% and volume climbing 3.4%. This data indicates that the three main categories of energy imports moved at varying rates in terms of value and physical quantities throughout the quarter.
The United States emerged as the top supplier of petroleum oil to the EU during the second quarter, accounting for 18.8% of imports. Norway followed with 14.3%, and Kazakhstan contributed 13.4%. Collectively, these three countries supplied 46.5% of the EU’s petroleum oil imports during this period. The rankings among suppliers differed when it came to 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 Supplies
During the second quarter of 2026, the United States supplied 63.2% of the EU’s liquefied natural gas imports. Russia supplied 17.3%, and Algeria accounted for 8.1%. These three providers together made up 88.6% of LNG imports in that period. This concentration was greater than in petroleum oil, where the top three suppliers held less than half of the total imports. The data reflects each supplier’s proportion of EU imports for the respective energy type, based on figures from Eurostat compiled from Comext trade data and statistical estimates.
For gaseous natural gas, Norway supplied 51.2% of EU imports during the quarter. Algeria ranked second with 18.2%, followed by the United Kingdom at 11.1%. Russia’s share was 10.2%, placing it behind the UK in this category. The quarterly figures were derived from Eurostat’s analysis of trade data and estimates, covering crude petroleum oils, liquefied natural gas, and natural gas transported in gaseous form.
Petroleum Oil Value Rebounds After 2025 Drop
The rise in oil import value in the second quarter follows a year in which the EU experienced declines in both the worth and volume of petroleum oil imports. In 2025, the value dropped by 17.8% compared to 2024, while physical volume decreased by 6.1%. Overall, the EU imported €336.7 billion worth of energy in 2025, totaling 723.3 million tonnes. That year’s energy import value fell by 11.1%, and total volume declined by 0.6%. These yearly figures represent energy imports from outside the EU.
When viewed over a longer period, it’s evident that EU energy import totals in 2025 were still below the levels seen in 2022. In that year, 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 had fallen 14.9%. The second-quarter 2026 figures for oil thus indicate a notable increase in import value compared to the 2025 monthly baseline, while physical quantities remained near that reference point.