Shafaq News/ On Tuesday, the US Energy Information Administration (EIA) announced that Iraq exported over 8 million barrels of crude oil and its derivatives to the United States in May 2024.
"Iraq exported 8.46 million barrels of crude oil to the US in May, down by 2.52 million barrels compared to April’s exports, which reached 10.512 million barrels."
EIA continued, "OPEC’s total oil and product exports to the US in April amounted to 47.348 million barrels, with Saudi Arabia leading the exports at 15.69 million barrels."
Iraq’s oil exports to the US have seen significant growth in recent years, driven by increased production capacity and rising global demand for oil.
These oil trade relations between Iraq and the US play a crucial role in strengthening economic ties between the two countries, while also contributing to global oil market stability and energy supply for both American and international economies.