The Strait of Hormuz, a vital maritime route, has been blocked since the war began between United States-Israel and Iran on February 28, raising global concerns over oil supplies and trade routes. In response, the United Kingdom hosted an international virtual summit on Thursday, bringing together 35 nations, including India, to explore diplomatic solutions to reopen the strategic waterway.

The meeting comes as US President Donald Trump asked countries affected by the closure of the Strait of Hormuz to "build up some delayed courage, go to the Strait, and get their own oil". Trump's threats came after several European nations and the UK ignored his calls to send their armies to open Hormuz.

Trump Says 'US Imports No Oil Through Hormuz'

In a recent address to the nation, Trump expressed confidence that the situation would eventually stabilise in the Middle East. He emphasised that the US is no longer heavily dependent on Middle Eastern oil. "The United States imports almost no oil through the Hormuz Strait and won't be taking any in the future," Trump claimed. He added, “The countries of the world that... receive oil through the Hormuz Strait must take care of that passage. Just take it, protect it, use it for yourselves."

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Meanwhile, US gasoline prices surged to an average of USD 4 per gallon on Wednesday, marking their highest level since 2022, just before Trump's televised address. This raises the question - Does the US truly rely on crude oil shipments from the Strait of Hormuz?

US And Its Oil Demands

The US is the world’s largest consumer of oil, using roughly 20.5 to 20.6 million barrels in a day. It is also a major producer, generating about 13.6 million barrels daily. This leaves a gap of around 7 million barrels per day, which the country fills through imports.

Canada is the largest supplier, providing 4 to 4.5 million barrels daily, meeting nearly 60-65 per cent of the US import needs. Mexico comes next, supplying about 0.5 million barrels per day. Saudi Arabia, once the top exporter to the US, now provides only 0.3 million barrels per day. Other suppliers include Iraq with 0.3 million barrels of medium-heavy crude, Brazil with 0.3 million barrels, and Colombia at 0.2 million barrels per day.

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The reason behind these imports is the mismatch between US oil production and its refineries. Most American refineries are designed for heavy crude, while the country produces mostly light, sweet crude. As a result, the US imports heavy oil to feed its refineries and exports much of the light crude it produces. As a result, about 70 per cent of US crude imports come from nearby countries like Canada, Mexico, Colombia, and Brazil, while less than 15 per cent is sourced from the Middle East.