How Much Oil Does the U.S. Buy from Russia in 2024?

The United States has significantly reduced its reliance on Russian oil imports since 2022, but some purchases still occur through indirect channels. While exact figures fluctuate monthly, the latest trade data shows that Russian oil now accounts for less than 1% of total U.S. crude oil and petroleum product imports—a stark drop from pre-war levels when Russia supplied nearly 8% of U.S. oil needs.

Why the Sharp Decline in U.S. Oil Imports from Russia?

The reduction follows a series of sanctions and voluntary cutbacks by U.S. refiners after Russia’s invasion of Ukraine. Major oil companies, including ExxonMobil and Chevron, publicly distanced themselves from Russian crude, citing ethical and regulatory concerns. The U.S. banned imports of Russian oil, liquefied natural gas, and coal in March 2022, though loopholes in third-country processing have allowed minimal indirect flows to continue.

Where Does the Remaining Russian Oil Go in the U.S.?

Any residual Russian oil entering the U.S. today typically arrives via intermediaries—often refined in countries like India or China before being shipped to American ports. This “re-blending” process makes tracking difficult, but customs records indicate these volumes remain small. For example, a 2023 shipment of diesel from a Singapore-based trader was flagged as originating from a Russian refinery, yet entered the U.S. under a different product classification.

How Much Oil Is Still Being Imported?

Official U.S. Energy Information Administration (EIA) data for 2024 shows Russian-origin oil imports averaging around 50,000 barrels per day—down from over 600,000 barrels per day in early 2021. To put that in perspective, the U.S. now imports more oil from Mexico in a single day than it does from Russia in a month. The shift has had minimal impact on domestic fuel prices, which are more influenced by OPEC decisions and U.S. shale production than by Russian supply.

What Are the Alternatives for U.S. Buyers?

U.S. refiners have pivoted to more stable sources, including Canadian heavy crude, West African light sweet crude, and increased domestic shale output. Canada alone now supplies over 60% of U.S. oil imports, while imports from Saudi Arabia and Iraq have also risen. These changes have strengthened energy security but come with higher transportation costs for some refiners accustomed to Russian oil’s proximity and pricing.

Could Russian Oil Imports Bounce Back?

Unlikely under current geopolitical conditions. The U.S. has enforced secondary sanctions targeting foreign entities that facilitate Russian oil trade, and major shipping insurers have withdrawn coverage for vessels carrying Russian crude. While global oil markets remain interconnected, the U.S. has demonstrated little appetite for re-engaging with Russian energy, even at discounted prices.

Bottom Line: A Market in Transition

The U.S. oil import landscape has fundamentally changed. Russian oil is no longer a significant factor in American energy supply, and the infrastructure built around those imports has largely been repurposed or replaced. For consumers, the shift has had no noticeable effect on gas prices or heating costs. For policymakers, it’s a case study in how quickly energy trade flows can realign when geopolitical priorities shift.

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