Iraqi oil exports to the US rise while US crude oil imports decline

Shafaq News / Iraqi oil exports to the US increased by an average of 222,000 barrels per day last week, according to a report by the US Energy Information Administration (EIA) released on Sunday.

The report, obtained by Shafaq News agency, also revealed that "the average US crude oil imports from nine countries last week were 5.191 million barrels per day, down 204,000 barrels per day from the previous week, when they averaged 5.395 million barrels per day."

Furthermore, the EIA added that "Iraq's oil exports to the US were 222,000 barrels per day last week, up by 42,000 barrels per day compared to the previous week, when they averaged 180,000 barrels per day." The EIA report also indicated that "Canada was the largest source of US oil revenue last week, with an average of 3.327 million barrels per day, followed by Mexico with an average of 728,000 barrels per day, then Saudi Arabia with an average of 339,000 barrels per day, and Brazil with an average of 189,000 barrels per day."

According to the EIA, "the US imported an average of 143,000 barrels per day of crude oil from Colombia, 104,000 barrels per day from Nigeria, 49,000 barrels per day from Libya, and 36,000 barrels per day from Ecuador, while no oil was imported from Russia."

This increase in Iraqi oil exports to the US, along with the decline in imports from other countries, could have an impact on the global oil market. The rise in exports may lead to a boost in Iraqi revenue, while the decrease in imports from other countries could result in increased prices for their oil. It remains to be seen how the market will respond to these developments.