Germany's crude oil import value jumps 21.7% in January-August

By Gokhan Ergocun

ISTANBUL (AA) - Germany's crude oil import value surged 21.7% year-on-year to reach $33.6 billion in the first eight months of 2026, despite a slight decline in volume.

The country purchased 49.1 million tons of crude oil worth €30 billion ($33.6 billion) between January and August 2026, marking a 0.6% volume decrease but a 21.7% value increase from 2025, official figures showed on Tuesday.

The Federal Statistical Office (Destatis) attributed this value surge to rising crude oil prices following the Middle East conflict.

The value per ton of crude oil averaged €607 in August 2026.

The US remained the most important crude oil supplier to Germany, leading Norway and Kazakhstan.

Gökhan Ergöçün