European Union’s (EU) petroleum oil imports remained stable in Q1 2026, with values up 0.8% and volumes down 0.6%, while LNG volumes rose 2.9%. The US led oil and LNG supplies, while Norway dominated pipeline gas imports.
The United States and Iran have signed a preliminary agreement aimed at ending months of conflict and paving the way for the reopening of the Strait of Hormuz, sanctions relief for Tehran and a new round of negotiations on Iran's nuclear programme.
