US President Trump sparked controversy with his claim that the country imports 'almost no oil' via the Strait of Hormuz, but data from the US Energy Information Administration (EIA) reveals a different story.
The EIA's 2024 data shows that the US imported at least 0.5 million barrels of crude oil per day from Persian Gulf countries via the Strait of Hormuz.
This amounts to 7% of the US's total annual crude oil imports and 2% of total petroleum liquid imports, contradicting Trump's claim.
While the import of crude via the Strait has decreased since 2022, it remains a significant amount, with 0.5 million barrels per day in 2024 and 2023, compared to 700,000 barrels per day in 2022.
Trump's speech sparked a rise in oil prices, with Brent crude jumping 5% to $106.22 per barrel and Benchmark US crude rising 4.2% to $104.36 a barrel.
