Iraq, 5 September 2024 (TDI): Iraq exported over 46 million barrels of crude oil and its derivatives to the United States (US) in the first six months of the current year.
According to a report released by the US Energy Information Administration (EIA) in the first half of 2024, Iraq’s oil export to the US exceeded 46 million barrels.
The EIA report further says that Iraq shipped about 8.6 million barrels in June alone, up from 8.46 million barrels in May.
It says that the Organization of the Petroleum Exporting Countries (OPEC’s) total oil and product exports to the US for the year’s first half amounted to 227,159,000 barrels.
Saudi Arabia remains the largest oil exporter to the US with 69,459,000 barrels during the same period.
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During the last few years, oil supplies from Iraq to the US have increased significantly, hitting record highs in some months.
The main reason of increase in oil supplies from Iraq due to rise in demand oil across the world. The Iraq and US oil trade is mandatory for the development of both the countries’ economic relations.
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