Iraq ships 62.9M barrels of oil to US in 2024's initial eight months

2024-11-26 07:46:54

(MENAFN) The US Energy Information Administration (EIA) reported on Saturday that Iraq shipped 62.9 million barrels of crude oil and related products to the United States in the first eight months of 2024.

According to the EIA, Iraq exported approximately 7.98 million barrels of oil in August, down from 8.86 million barrels in July, as reported by Shafaq News.

In total, OPEC countries exported 310.4 million barrels of crude oil and its derivatives to the United States during the same period, with Saudi Arabia leading the exports at 89.7 million barrels.

Because of Iraq’s capacity to develop its oil output and the increase in the demand for oil internationally, Iraqi oil exports to the United States have surged hugely in latest years, with export data in specific months reaching extraordinary highs.

Trade bonds among Iraq and the United States are important for developing economic bonds among both nations. It also participates to international oil market steadiness and energy supply in the United States and international economies.

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