Economic Insight – Baghdad
The US Energy Information Administration has reported a marked decline in Iraq’s oil exports to the United States over the past week.
The agency noted in a comprehensive schedule that “average American imports of crude oil from eight key countries fell to 5.506 million barrels per day, a decrease of 544 thousand barrels per day compared to the previous week’s imports of 6.050 million barrels per day.”
Furthermore, it highlighted that “Iraq’s oil exports to the US have seen a substantial drop, registering at 46 thousand barrels per day, which is 53 thousand barrels less than the previous week’s figure of 99 thousand barrels per day.”
The administration also revealed that “the majority of US oil revenue during the past week derived from Canada, amounting to 3.918 million barrels per day, followed by Mexico at 482 thousand barrels per day, Saudi Arabia with an average of 380 thousand barrels per day, and Venezuela providing an average of 226 thousand barrels per day.”
According to their data, “US imports of crude oil from Brazil stood at 217 thousand barrels per day, while imports from Colombia reached 150 thousand barrels per day, and Nigeria contributed an average of 87 thousand barrels per day.”
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