Iraqi oil exports to America record their lowest levels in 2024
Iraqi oil exports to America record their lowest levels in 2024
2024-06-18 07:43
Shafaq News/ Economist Manar Al-Obaidi reported on Tuesday that Iraqi oil exports to the United States of America decreased significantly in the first third of the current year, as the daily export rate reached 170 thousand barrels, compared to 250 thousand barrels for the same period in 2023.
Al-Obaidi reported data, published below by Shafaq News Agency, which showed that Iraq exported in the first third of 2024 a total of 20.5 million barrels worth $1.6 billion, with an average price per barrel reaching $78.17, compared to, in the same period of 2023, exports amounted to 29.35. One million barrels worth $2.18 billion, with an average price per barrel of $74.15. This represents a decrease in quantity by 30% and in value by 26.3%.
Iraq ranked eighth as the largest exporter of oil to the United States of America, as its exports represented 2.66% of the United States’ total imports of crude oil, while this percentage was 3.9% in the same period last year, according to a statement by Al-Obaidi, who serves as president of the Foundation. Future Iraq for Economic Research and Consultation.
The United States of America imported crude oil from various countries in a total amount of 771 million barrels in the first third of the current year, with a daily import rate of 6.4 million barrels, and a total value of 53.2 billion dollars. Compared to the first third of 2023, the United States imported 750 million barrels at a daily rate of 6.3 million barrels, with a total value of $51.3 billion.
Canada came in first place as the largest exporter of crude oil to the United States of America, with a quantity of 494 million barrels and a daily export rate of 4.12 million barrels, with an export value of $31 billion. These numbers increased compared to the same period in 2023, as the quantity of exports reached 459 million barrels at a daily rate of 3.86 million barrels, with a value of $28.5 billion. Canada is followed by Mexico, Saudi Arabia, Colombia and Brazil as the largest sources of crude oil to the United States.
shafaq.com
