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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Iraq's oil is slowly rising in new markets... has it lost its original customers?!

    Rocky
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    Iraq's oil is slowly rising in new markets... has it lost its original customers?! Empty Iraq's oil is slowly rising in new markets... has it lost its original customers?!

    Post by Rocky Sat 30 Apr 2022, 8:18 am


    [size=30]Iraq's oil is slowly rising in new markets... has it lost its original customers?!

    2022-04-30
    [/size]
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    Yes Iraq: Baghdad

    Iraq's oil exports began to emerge and rise in new global markets, amid indications that Iraq may lose part of its most important oil consuming markets, represented by India and China, which import about 70% of Iraq's oil exports, due to Russia's entry as a strong competitor to Iraq in these markets.
    For consecutive weeks, the United States has imported about a quarter of a million barrels per day from Iraq's oil exports during the past weeks, which represents about 8% of Iraq's oil exports, while the data showed the growth of Iraq's oil exports to South Korea by about 120% compared to last year.
    And the South Korean Customs Administration revealed that Iraq ranked fourth as the largest oil exporter to Seoul during the month of March 2022, at 6.353 million barrels, up by 9.4% from last February, in which exports amounted to 5.806 million barrels, an increase of 119.4% over the same period in the year 2021, in which exports amounted to 2,896 million barrels.
    She added that "the quantity of Iraqi crude oil exported to South Korea for the first three months of January, February and March 2022 amounted to 16,015 million barrels, an increase of 17.7% over the same period in 2021, in which these quantities amounted to 13,612 million barrels."
     
     
     
    About 5% of America's imports came from Iraq during the past week
    Next, the US Energy Information Administration announced that Iraq ranked fifth as the largest oil exporter to America during the past week, while the average US imports of crude oil during the past week from eight countries amounted to 5173 million barrels per day, of which Iraq's oil exports came to 242 thousand barrels per day. Last week, it ranked fifth as the largest oil exporter among the ten major countries exporting to America.” Iraq’s exports represent 5% of the total oil imports by America during the past week.
    She pointed out that "most of America's oil revenues during the past week came from Canada, at a rate of 3.510 million barrels per day, followed by Saudi Arabia at a rate of 438,000 barrels per day, and oil revenues from Mexico at a rate of 391,000 barrels per day, and then Colombia at a rate of 364,000 barrels per day."
     
    The data on Iraqi crude oil imports by China and India over the past weeks is not yet clear, and whether they have decreased due to the reluctance of these countries to buy Russian oil, which has begun to offer huge discounts due to the sanctions imposed on it from the West, and the reluctance of some international companies to buy Russian oil.
    Iraq exports to India and China a total of 2.3 million barrels per day, out of the 3.3 million barrels per day that Iraq exports, which means that about 70% of Iraq’s oil exports are threatened by “swing and fluctuation” and the possibility of its decline due to the orientation of the largest consumers of Iraqi oil towards Russian oil.
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