The US Energy Information Administration announced that Iraq exported over 8 million barrels of crude oil and its derivatives to the United States in November 2024.
According to the administration’s report, Iraq’s total oil exports during this month reached approximately 8.51 million barrels, marking an increase from the previous month’s total of 6.8 million barrels.
The administration detailed that of the total crude oil exported from Iraq, 6.718 million barrels were accounted for in November, while the remaining 1.792 million barrels comprised oil derivatives. This included 1.788 million barrels of heavy oils and an additional 4,000 barrels of residual fuel oil.
In recent years, Iraqi oil exports to the United States have significantly increased, with some months witnessing record-high export levels. This growth can be attributed to Iraq’s enhanced oil production capabilities and a rising demand for oil in the global market.
The oil trade relationship between Iraq and the United States is vital for strengthening economic ties between the two nations. It also plays a crucial role in stabilizing the global oil market and ensuring energy supplies for both American and international economies.
