New Corolla delivers California's last Middle East oil shipment
Updated
Updated · The Wall Street Journal · May 11
New Corolla delivers California's last Middle East oil shipment
9 articles · Updated · The Wall Street Journal · May 11
The tanker brought about 2 million barrels of Iraqi crude to Long Beach, with no other Middle Eastern cargo expected until months after the Strait of Hormuz reopens.
California, which imports 75% of its oil and gets nearly a third from the Middle East, is already paying average gasoline prices of $6.16 a gallon and diesel prices of $7.48.
A Jones Act waiver and a restarted offshore pipeline have provided limited relief, but refinery closures, weaker Asian fuel exports and the Hormuz disruption continue to strain supplies.
As a global oil shock hits America's greenest state, which will break first: fuel prices or climate policy?
With federal aid stalled and fuel supplies shrinking, what is California's emergency plan to avert a total shutdown?
California Faces 300,000-Barrel-Per-Day Oil Shortfall After Final Middle East Shipment: Supply Shock, Price Surge, and Energy Security Crisis
Overview
On May 8, 2026, the arrival of the supertanker New Corolla at the Port of Long Beach marked the end of California’s regular crude oil imports from the Middle East, creating an immediate supply gap of about 300,000 barrels per day for the state’s refineries. This shortfall has caused gasoline prices to surge by $0.75 per gallon, reaching $6.25, and is already affecting consumers and businesses. California’s strategic petroleum reserves can only cover this deficit for about 15 days, highlighting the urgent need for new solutions as the state faces a major energy crisis.