LUXEMBOURG / RankWire.AI / – European Union significantly increased its expenditure on petroleum oil imports in the second quarter of 2026, despite nearly unchanged physical volumes. According to Eurostat, import values rose by 55.8% compared to the average monthly figure for 2025. Oil import volume reached 36.7 million tonnes, representing a 1.2% rise. These statistics highlight a notable divergence between spending growth and the actual quantity of oil brought into the bloc, indicating that the value shift was much larger than the volume change during this period.
During the same timeframe, EU imports of liquefied natural gas experienced a different trend. LNG import value increased by 4.1%, while the volume decreased by 5.6% from the 2025 monthly average. Gaseous natural gas showed growth in both value and quantity, with an 18.5% increase in import value and a 3.4% rise in physical volume. These quarterly figures cover energy products purchased from suppliers outside the EU, offering a direct comparison across the union’s main fossil fuel imports.
The United States remained the primary source of EU petroleum oil imports in Q2, accounting for 18.8%. Norway followed with 14.3%, and Kazakhstan supplied 13.4%. Collectively, these three nations provided 46.5% of the EU’s petroleum oil imports during the quarter. The concentration of suppliers was higher in liquefied natural gas, with the United States holding a much larger share of total LNG imports. The data also reveal distinct sourcing patterns across oil, LNG, and pipeline gas sectors.
United States Leads EU LNG Imports
In Q2 of 2026, the United States supplied 63.2% of the EU’s liquefied natural gas imports. Russia supplied 17.3%, and Algeria contributed 8.1%. These three countries collectively made up 88.6% of LNG imports in this period. This distribution contrasts with the petroleum oil market, where the top three suppliers accounted for less than half of the total. The figures reflect each supplier’s share within the relevant EU energy import category and distinguish LNG trade from gaseous natural gas imports.
Norway led in gaseous natural gas supplies, with a 51.2% share. Algeria ranked second at 18.2%, followed by the United Kingdom at 11.1%. Russia accounted for 10.2% of gas imports in this category. Eurostat compiled these figures using Comext trade data and statistical estimates. The dataset includes crude petroleum oils, liquefied natural gas, and natural gas transported as gas. This breakdown allows for comparisons of import shares across different fuel types without combining them.
Petroleum Import Values Bounce Back After 2025 Decline
The notable rise in petroleum oil import value during Q2 followed a decline throughout 2025. That year, EU petroleum oil import value decreased by 17.8% compared to 2024, while volume dropped by 6.1%. In total, the EU imported €336.7 billion worth of energy in 2025, with a volume of 723.3 million tonnes. Overall energy import value fell by 11.1%, and volume decreased by 0.6%. These annual figures serve as a benchmark for evaluating the latest quarterly changes in oil, LNG, and gaseous natural gas.
Energy imports in 2025 remained below 2022 levels, when the EU imported €693.4 billion worth of energy with a volume of 849.6 million tonnes. By 2025, the import value had fallen 51.4% from that peak, with volume down 14.9%. Based on the 2025 monthly average, Q2 2026 oil imports saw a sharp increase in value with only a modest rise in physical volume, leaving quarterly volume close to last year’s monthly average.