Iraq exports oil to America equivalent to exports in 2016
Iraq exports oil to America equivalent to exports in 2016
Posted, 2017/11/22 22:23
[Oan- follow – up]
Reuters data showed that Iraq ‘s oil exports to the United States this year is moving pace led to reach the highest level in nine years and that the volume of shipments until October exceeded the total exported in the entire year 2016.
The increase points to Iraq’s desire to close the gap in supplies reaching the United States resulting from the decline recorded by other members of the Organization of the Petroleum Exporting Countries [OPEC].
The last time Iraq’s exports to the United States exceeded 200 million barrels in 2008 when it amounted to 202 million barrels.
According to Reuters data, Iraq sent a total of 170 million and 400 thousand barrels of Basra crude to the United States until October, up 19 percent compared to 142.7 million barrels were sent in 2016 in full.
The data also show that the total volume of shipments of Iraqi crude to the United States until October increased by 201 thousand barrels per day.
In contrast, Saudi Arabia’s share in US crude imports in the summer shrunk to 11 percent of total US imports, the lowest proportion of US imports since 1985. The
total volume of shipments of OPEC member Venezuela to the United States fell by 89,000 barrels per day The same period.
The total imports of Iraqi oil purchased by buyers from the US Gulf Coast, who tend to prefer heavy raw materials, until October 132.5 million barrels, an increase of 22 percent compared to 108.7 million barrels for the region in 2016.
The lion’s share of the fortune of Basra light raw materials 2017 shipments destined for the United States so far and amounted to 91.7 million barrels, Basra’s heavy raw materials accounted for 71.7 million barrels and raw materials mix Basrah 6.8 million barrels.
alliraqnews.com