Iraq exports over 6 million barrels of oil to US in July

The US Energy Information Administration (EIA) announced on Monday that Iraq exported more than six million barrels of crude oil to the United States in July.

Iraq’s exports of oil to the United States last July reached 6.96 million barrels, with an average of 169,000 barrels per day, representing an increase compared to Iraq’s oil exports to the US in June, when it reached 5.42 million barrels, with an average of 136,000 barrels per day, Shafaq News reported.

Additionally, the EIA reported that during July, Iraq’s oil exports to the US fluctuated, with an average of 237,000 barrels exported daily during the first week, 79,000 barrels during the second week, and 314,000 barrels per day during the third week, and 207,000 barrels per day during the fourth week.

The EIA also stated that Iraq came in fifth place after Saudi Arabia, Canada, Mexico, and Colombia on the list of the top oil suppliers to the United States in the previous month.

According to data revealed by the EIA last week, Iraq’s exports of oil to the United States in May reached 8.46 million barrels, a decline of nearly 2.52 million barrels compared to April, when Iraq’s oil exports to the US reached 10.51 million barrels.

Iraqi oil shipments to the United States have increased significantly in recent years, with export figures hitting record levels in certain months, partly because of Iraq’s ability to boost oil production and, more broadly, because of rising worldwide demand for oil.

Trade relations between Iraq and the United States are significant for improving economic ties between the two countries. It also contributes to global oil market stability and energy supply in the United States and worldwide economies.