LUXEMBOURG / RankWire.AI / – European Union saw a sharp increase in petroleum oil import expenditures during the second quarter of 2026, despite nearly unchanged physical volumes. According to Eurostat, there was a 55.8% rise in the value of imports compared to the monthly average for 2025. The volume of oil brought into the bloc reached 36.7 million tonnes, representing a 1.2% growth. These figures illustrate a notable disparity between the increase in expenditure and the actual quantities imported. Consequently, the quarter experienced a significantly larger change in import value than in the physical amount of oil.
In contrast, EU imports of liquefied natural gas exhibited a different trend during the same period. LNG import value grew by 4.1%, even as the volume declined by 5.6% from the average in 2025. The amount of natural gas delivered in gaseous form increased both in value and volume, with an 18.5% rise in import value and a 3.4% increase in physical volume. The quarterly data reflect energy products purchased by EU member states from external suppliers, offering a direct comparison across the bloc’s key imported fossil energy categories.
During the second quarter, the United States remained the leading provider of petroleum oil to the EU, accounting for 18.8% of imports. Norway was the second-largest supplier at 14.3%, with Kazakhstan supplying 13.4%. Collectively, these three nations contributed 46.5% of the EU’s petroleum oil imports during this period. When it comes to liquefied natural gas, supplier concentration was even higher, with the United States holding a much larger share of total imports. The data also reveal distinct supply patterns across oil, LNG, and pipeline gas sources.
United States Leads in EU LNG Imports
In the second quarter of 2026, the United States supplied 63.2% of the EU’s liquefied natural gas imports. Russia followed at 17.3%, and Algeria contributed 8.1%. These three countries accounted for 88.6% of all LNG imports during that period. This distribution contrasts with the petroleum oil market, where the top three suppliers provided less than half of the total. The figures represent each country’s share within the relevant EU energy import category and differentiate LNG trade from natural gas imported in gaseous form.
Norway was the leading source of gaseous natural gas, holding a 51.2% share, with Algeria in second place at 18.2%, and the United Kingdom at 11.1%. Russia supplied 10.2% of gaseous natural gas imports. Eurostat compiled these data using Comext trade statistics and estimates, covering crude petroleum oils, liquefied natural gas, and natural gas transported in gaseous form. The breakdown by category allows for a comparison of import shares without merging different fuel types.
Petroleum Oil Import Value Rebounds After 2025 Decline
The increase in petroleum oil import value during the second quarter followed a decline throughout 2025. In that year, EU petroleum oil import value dropped by 17.8% compared to 2024, while physical volume decreased by 6.1%. The entire energy sector saw €336.7 billion worth of energy imports in 2025, with a total volume of 723.3 million tonnes. The overall energy import value declined by 11.1%, and the volume fell by 0.6%. These annual figures serve as a benchmark for evaluating the recent quarterly movements in oil, LNG, and gaseous natural gas.
Energy import values for the EU in 2025 remained below the levels recorded in 2022, when the bloc imported €693.4 billion worth of energy, with a volume of 849.6 million tonnes. By 2025, the energy import value had decreased by 51.4% from that peak, and the volume was 14.9% lower. Based on the 2025 monthly average, the second quarter of 2026 saw a substantial rise in oil import value with only a modest increase in physical volume. The latest data suggest that the quarterly oil volume is close to last year’s monthly average.
}}}}# Short AnswerThe EU’s Oil Expenditure Rebounds Amid Shifts Toward LNG and Gas Imports The second quarter of 2026 saw a significant increase in the EU’s spending on petroleum oil imports, even as the actual physical volumes remained nearly unchanged. Eurostat data revealed a 55.8% rise in import value compared to the same period in 2025, with oil import volume reaching 36.7 million tonnes—a 1.2% increase. This indicates a notable divergence between the rise in expenditure and the physical quantities imported, highlighting a much larger shift in value than in tonnage. Meanwhile, EU imports of liquefied natural gas exhibited a different pattern, with the import value increasing by 4.1% despite a 5.6% decrease in volume from the 2025 monthly average. Natural gas supplied in gaseous form grew in both value and volume, with an 18.5% increase in import value and a 3.4% rise in physical volume. The quarterly figures, based on energy products purchased from outside the EU, enable direct comparison across major fossil energy categories. The United States remained the top supplier of petroleum oil to the EU in the second quarter, accounting for 18.8% of imports. Norway followed with 14.3%, and Kazakhstan contributed 13.4%, together supplying 46.5% of the bloc’s petroleum oil during that period. In LNG, the U.S. had a dominant position, supplying 63.2%, with Russia at 17.3%, and Algeria at 8.1%; these three countries made up 88.6% of total LNG imports. The distribution of sources for gaseous natural gas was led by Norway with 51.2%, followed by Algeria at 18.2%, and the United Kingdom at 11.1%, while Russia supplied 10.2%. Eurostat’s data, drawn from Comext trade figures, also covers crude oils, LNG, and natural gas in gaseous form, facilitating comparison without blending different fuel types. After declining in 2025—when petroleum oil import value fell 17.8% compared to 2024—second-quarter 2026 saw a rebound, with the value rising amidst only a slight volume increase. In 2025, total energy imports were valued at €336.7 billion, with a volume of 723.3 million tonnes, representing an 11.1% drop in value and a 0.6% decrease in volume from the previous year. The annual data set a benchmark, showing that EU energy imports in 2025 remained below 2022’s €693.4 billion worth and 849.6 million tonnes volume. The second quarter of 2026 saw a notable rise in oil import value relative to the 2025 monthly average, with volume only marginally higher, indicating that recent imports are approaching last year’s levels in physical terms.