US Oil Imports Decline, Iraq's Exports to the US Decrease

Strategic Insights -

The US Energy Information Administration (EIA) reported that Iraq's weekly oil exports to the United States declined during the last week. This news comes as the US imported an average of 5.69 million barrels of crude oil per day from 10 major countries last week, marking a 250,000-barrel-per-day increase compared to the previous week. Iraq's oil exports to the US decreased from 328,000 barrels per day to 162,000 barrels per day, representing a decline of 166,000 barrels per day. The EIA noted that Canada accounted for the majority of US crude oil imports, followed by Mexico, Brazil, and Libya.

Key Takeaways:

  • Iraq's weekly oil exports to the US decreased by 166,000 barrels per day, from 328,000 barrels per day to 162,000 barrels per day.
  • The US imported an average of 5.69 million barrels of crude oil per day from 10 major countries last week, marking a 250,000-barrel-per-day increase compared to the previous week.
  • Canada accounted for the majority of US crude oil imports, with an average of 3.85 million barrels per day, followed by Mexico with 437,000 barrels per day, Brazil with 343,000 barrels per day, and Libya with 280,000 barrels per day.
  • Saudi Arabia imported an average of 268,000 barrels per day, Colombia imported 137,000 barrels per day, Nigeria imported 93,000 barrels per day, Venezuela imported 74,000 barrels per day, and Ecuador imported 44,000 barrels per day.
  • The US Energy Information Administration (EIA) reported the decline in Iraq's oil exports, citing data from Sunday's report.

Statistics:

  • 5.69 million barrels of crude oil import per day (average) from 10 major countries
  • 2.5 million barrel-per-day increase in US oil imports compared to the previous week
  • 166,000 barrels per day decline in Iraq's oil exports to the US
  • 3.85 million barrels per day: Canada's average oil import to the US
  • 437,000 barrels per day: Mexico's average oil import to the US
  • 343,000 barrels per day: Brazil's average oil import to the US

Sources:

  • US Energy Information Administration (EIA)
  • Shafaq News