Economic Overview – Baghdad
Recent data from the US Energy Information Administration indicates a significant increase in Iraqi oil exports to the United States over the past week.
The report reveals that the average daily US import of crude oil from nine major countries decreased to 5.981 million barrels during the past week, down by 92 thousand barrels from the previous week, which recorded an average of 6.073 million barrels.
It was highlighted that Iraq’s crude oil exports to the US reached an average of 336 thousand barrels per day, marking an increase of 118 thousand barrels from the prior week, which stood at 218 thousand barrels per day.
The analysis further noted that the highest oil revenue for the US during this period came from Canada, contributing an average of 3.716 million barrels per day, followed by Mexico at 521 thousand barrels per day, Saudi Arabia at 417 thousand barrels per day, and Venezuela at 319 thousand barrels per day.
According to the data, US imports of crude oil included 283 thousand barrels per day from Colombia, 114 thousand barrels from Brazil, 102 thousand barrels from Ecuador, and finally 92 thousand barrels from Nigeria.
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