Germany crude oil import value rises to 30 billion euros

Between January and August 2026, Germany imported 49.1 million tonnes of crude oil with a total value of 30.0 billion euros, according to data from the Federal Statistical Office (Destatis). While the volume of imports decreased by 0.6 percent compared to the same period in 2025, the total import value rose significantly by 21.7 percent.

The increase in value is attributed to rising crude oil prices driven by conflicts in the Middle East. Price fluctuations were notable throughout the year; for instance, the average price per tonne rose from 460 euros in February to 616 euros in March following the start of the Iran-Iraq war, and reached 757 euros in April after the closure of the Strait of Hormuz. The highest price recorded in 2026 was 768 euros per tonne in May.

The primary suppliers of German crude oil during this eight-month period were the United States, Norway, and Kazakhstan, which together accounted for 52.2 percent of all imports. Specifically, the United States provided 10.8 million tonnes, followed by Norway with 8.0 million tonnes.