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What is the reason for the increase in Iraqi oil exports to America? .. An expert explains
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Baghdad today - Baghdad
Today, Tuesday (July 18, 2023), economist Nabil Al-Marsoumi explained the reasons for the increase in Iraqi oil exports to the United States, while stressing that Russia has displaced Iraq from the first place by exporting oil to India.
Al-Marsawi said in a post on his personal account on the “Facebook” platform, followed by “Baghdad Today”: Iraqi oil exports to the United States of America increased from 241 thousand barrels per day in the first third of 2022 to 383 thousand barrels per day in the first third of 2023. .
He pointed out that "this is due to the geographical redistribution of Iraqi oil exports, which lost part of its share in the Indian market in favor of Russia, which has become the first source for India as a result of the large price discounts on the prices of Russian Urals crude," stressing that it "displaced Iraq to second place."
And the economist stated that "Iraq exports about 11% of its oil exports to America," stressing that "it is the second largest oil exporter to America in OPEC after Saudi Arabia, and it is also among the top ten oil exporting countries to America."
Earlier, the US Energy Information Administration announced that Iraq's oil exports to America exceeded 250,000 barrels per day, becoming the fourth largest exporter to America, indicating that the average US imports of crude oil during the past week from eight countries amounted to 5.562 million barrels per day, up by 265,000. barrels per day, compared to the previous week, which amounted to 5.297 million barrels per day.
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