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Reliance On Russian Oil Imports Could Have Impact On U.S. Gas Prices

Reliance On Russian Oil Imports Could Have Impact On U.S. Gas Prices

Newsy
Thursday, February 17, 2022 03:21:42 AM UTC

Earlier this month, oil prices surged to $97 a barrel, which is their highest level since 2014.

From crude oil rigs to the gas that ends up in your tank, it's typically a long process that begins thousands of miles away. 

We picture scenes like oil rigs in Saudi Arabia. Barrels filled to the brim and shipped to the U.S. But that crude oil also comes from places like oil fields in western Siberia. 

Russia accounted for 11% of crude oil imports to the U.S. between January and October last year, surpassing even Saudi Arabia. 

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