Iraq’s oil exports to the US rose to 43,000 bpd last week

In a recent revelation by the US Energy Information Administration (EIA), Iraq’s oil exports to the United States experienced a notable upswing, climbing to 43,000 barrels per day after a halt observed in the preceding week.

As reported by Shafaq News, the EIA disclosed that the average crude oil imports to the US from nine principal nations stood at 5.42 million barrels per day, reflecting a marginal dip of 34,000 barrels per day compared to the previous week’s figures, which marked 5.45 million barrels per day.

Highlighting the sources of crude oil imports, the EIA underscored Canada as the primary contributor, with an average of 3.99 million barrels per day, trailed by Saudi Arabia, which supplied an average of 390,000 barrels per day. Additionally, Mexico and Ecuador registered imports of 294,000 barrels per day and 201,000 barrels per day, respectively.

Further dissecting the import statistics, the report delineated that the US received 150,000 barrels per day from Colombia, 148,000 barrels per day from Brazil, 137,000 barrels per day from Nigeria, and 63,000 barrels per day from Libya throughout the past week. Notably, the EIA underscored a conspicuous absence of crude oil imports from Russia during the aforementioned period.

This surge in Iraq’s oil exports to the US echoes broader trends in the global oil market, reflecting the dynamics of supply and demand amid geopolitical and economic factors. The intricate interplay between nations in the energy sector continues to shape trade patterns and influence market fluctuations, with ramifications for both producers and consumers worldwide.

As the energy landscape evolves, stakeholders monitor such developments closely, anticipating their implications on prices, policies, and international relations. The resurgence of Iraq’s oil exports to the US underscores the nation’s role as a key player in the global energy arena, underscoring the significance of continued vigilance and analysis in navigating the complexities of the oil market.