In the scheme of things, President Biden’s ban on Russian oil imports has more bark than bite. That doesn’t mean it won’t hurt some U.S. refiners.
The U.S. last year relied on the world’s No. 3 producer for just 8% of its imports of crude oil and petroleum products.
was the importer behind 41% of all Russian crude oil and petroleum products into the U.S. last year, according to data from the U.S. Energy Information Administration analyzed by Tudor, Pickering, Holt (TPH). Other large importers of Russian crude included
(17%),
(8%) and
(7%).
But some smaller firms have much…
