Oil is crucial to the economic well-being of the United States, to such an extent that any sharp increase in the price of oil leads to an economic downturn in U.S. economic fortunes. The United States imports about 65% of its oil needs, and it is therefore vulnerable to the vagaries of the oil market and to events anywhere in the world, not just in the countries from which the US buys most of its oil. "The fact that we import most of our oil from Canada, Mexico, Venezuela, and Saudi Arabia does not mean that we are immune to problems with Russian oil exports; exactly the opposite."
Profile of Saudi Arabia
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