The energy crisis and the geopolitical turmoil around it redefined global oil flows, pushing Spain to rethink its supplier mix. With the war in Ukraine disrupting traditional markets, Spanish buyers reached beyond long-standing partners to stabilize supplies and ensure crude arrivals from a broader set of regions. The evolving international landscape, driven by conflict and its ripple effects on diplomacy and trade, spurred Spain to pursue steady access to crude from both new and established exporting countries.
In recent months, Spain’s oil purchases from Latin America have risen, signaling a move toward a more diverse supplier map. Data shows imports from South and Central American economies more than doubled, while purchases from Mexico continued to climb, underscoring Mexico’s growing role as a crucial crude source. This shift reflects a deliberate strategy to diversify risk and secure reliable imports in a volatile market, a concern shared by energy buyers across North America, including Canada and the United States.
Spain also began sourcing crude from other regional partners as the market adjusted to the crisis. Imports from Colombia surged, arrivals from Brazil rose sharply, and supplies from Venezuela resumed in limited volumes. Trinidad and Tobago increased its share as well, contributing to a more varied import profile. This diversification helped offset reductions from traditional suppliers amid sanctions and broader market disruptions, a pattern echoed by energy importers in Canada and the United States, who also sought resilient supply lines.
Over the past year, South and Central American countries accounted for a notable portion of Spain’s crude intake, while North American sources, including the United States, Canada, and Mexico, rose to a higher share than before the upheaval. The shift underscores how political events and sanction regimes influence trade routes and supplier selection, prompting adjustments to safeguard energy security for households and industry alike in Canada and the United States.
Mexican shipments emerged as a prominent component of Spain’s crude portfolio, with Mexico contributing a sizable share of the total supply. The United States and Brazil remained important sources, alongside established suppliers such as Saudi Arabia and Iraq. Before the conflict intensified, Mexico already represented a meaningful slice of Spain’s energy mix, while the United States and Brazil captured smaller shares that grew as dynamics changed, a trend observed by energy observers across North America, including Canada and the United States.
More than a Year Without Russian Crude
The European Union moved to tighten economic and trade measures against Russia, aiming to cut Moscow’s revenue and curb funding for its military actions in Ukraine. While some channels persisted through intermediary countries, the broad sanctions framework targeted oil flows to reduce exposure to Russian supplies. This created room for alternative suppliers and accelerated a reevaluation of established relationships across the European energy market, a development that ripple-tested energy planners in Canada and the United States as well.
Spanish companies began reducing their exposure to Russian crude as the conflict intensified, and the trend persisted for months. After a period of rising imports in 2021, the momentum shifted toward diversification and substitution. Beginning in early 2022, Russian crude entries into the Spanish market declined steadily, culminating in a stretch with no purchases reported for many months. This evolution highlights a strategic pivot toward secure, diverse sources to maintain steady energy access for Spain’s economy, a lesson echoed by national energy programs across North America, including Canada and the United States.