Russian Energy Exports to U.S. Reach 8-year High in October

U.S. Energy Information Administration (EIA) data published this week reveals that Russia is now the second-biggest oil exporter to the United States, with Russian supplies reaching an eight-year high in October, RBC reports

Russia exported 20.9 million barrels of crude oil and petroleum products to the U.S. in October 2019, the highest one-month total since November 2011. The country also surpassed Mexico as the second-largest energy supplier to the U.S. in October 2019 and stood behind Canada.

The U.S. imported 166.37 million barrels of Russian crude oil and petroleum products in January-November 2019, the latest available data says. Mexico exported 217.5 million barrels to the U.S. in January-November 2019.

Russian Federal Customs Service data cited by RBC estimated the country’s January-November exports of crude oil and oil products to the U.S. at $5.76 million.

In the absence of December data, RBC reported that state-owned oil company Rosneft delivered 3.5 million barrels of oil products to the U.S. that month. At least seven other Russian firms delivered energy products to the U.S. in December, RBC cited the Caracas Capital investment bank as saying.

Russia ramped up its oil and petroleum sales to the U.S. after Washington imposed sanctions on Venezuela last year, causing a sharp drop in exports of the country’s key source of revenue.

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