America has doubled imported crude from Iraq and Saudi Arabia, but it could fall
Baghdad / term
But on the other hand, the recent developments in the market including the Organization of Petroleum Exporting Countries ( OPEC ) agreement in November 2016 to reduce the production and expansion of disagreements prices between Dubai and Oman ORE US producer Mars, indicate the likelihood of becoming oil refineries American less affinity crude imports from Iraq and Saudi Arabia .
At the time of referring the Energy Information US that the rise in crude oil production rates in Iraq and Saudi Arabia in late 2016 has led to rising exports to record levels of these two countries, with Saudi exports rate reached in November 2016 to 8.3 million barrels per day, the highest since May 2003 , also reached the Iraqi crude exports rates in November 2016 to record up to 41 million barrels per day and remained at that level limit in December of the same year . Despite the increase in crude exports rates from Iraq and Saudi Arabia during the months of November and December, the transfer of cargo operation exposed delays before they reach the United States, and take oil shipping tonnage period of approximately seven weeks to reach the coast of the Gulf of the United States coming from the Persian Gulf after traveling around the southern tip of Africa, but using ships slimmer able to transit the Suez Canal port after they came from Arabian Gulf to the east coast of the United States, the trip takes five weeks, but the journey across the Arabian Gulf to the west coast of the US Pacific port , it takes six weeks.
Based on the timing of shipping mentioned the cargo exported from Iraq and Saudi Arabia in November and December could reach the United States between December 2016 and February 2017, and the exports Arabia and the United States have increased over five consecutive weeks at a rate of one million barrels per day in the week ended 6 January to 1.3 million barrels in the week ended February 10, 2017.
In the same way it increased Iraqi exports of crude oil to the United States through five consecutive weeks , up from 373,000 barrels per day for the week ending December 92 016 to 723 000 barrels per day for the week ending January 13, 2017.
Based on market developments recently it is unlikely that the pace of increase will continue unchanged in the imports of US crude oil from Iraq, Saudi Arabia, and in January 2017 it rose Dubai and Oman crude prices , which are the measure of the rest of the types of light oil prices and heavy in the Middle East to the highest level for two since more than a year , which is likely to encourage US refineries rely on local product and reduce its imports of other types of oils from the Middle East.