Europe: Netherlands, Latvia, Two Countries Most Dependent on Oil Imports
Spain and Lithuania import less oil products than other EU countries
Il prezzo del Brent resterà vicino a quota 75 USD/barile fino alla fine del 2024
In the first half of 2024, the top three EU countries most dependent on oil imports are the Netherlands, Slovenia, and Latvia. According to an analysis of data from the European statistical agency Eurostat, the ratio of imported petroleum products to those accumulated in Dutch reserves reached 304 percent. The similar figure for Slovenia and Latvia was 210% and 133%, respectively. Croatia, Belgium, Cyprus, and Luxembourg (122% – 102%) are somewhat less dependent on imports of crude oil and petroleum products.
More than 50% of domestic consumption of petroleum products is imported by Denmark, Slovakia, Sweden, Finland, France, Hungary, Austria, and Czechia.
Bulgaria, Spain, Poland, Portugal, Romania, Germany, Greece, and Spain import about 30% of the petroleum products consumed in these European Union countries.
Spain and Lithuania (about 25%) import the least of the “twenty-seven.”
Overall, the EU’s dependence on oil imports rose to 64.9% in the first half of 2024, 1.1% more than in the first six months of 2023.
Open Oil Market estimates that the price of Brent crude oil will hover around $75 per barrel until the end of 2024.
