Iraq's Oil Exports to the United States Surge 30.5% in 2023's First Five Months

Shafaq News/ Iraq's oil exports to the United States have seen a substantial surge, reaching over 55 million barrels during the initial five months of 2023, according to data released by the US Energy Information Administration on Thursday.

The EIA's data, obtained by Shafaq News agency, unveiled the statistics detailing Iraq's crude oil and derivative exports to the United States from January to May.

During this period, the exports totaled 55.407 million barrels, reflecting a growth of 30.5% compared to the corresponding period in 2022, which saw exports amounting to 38.424 million barrels. The surge is even more pronounced when compared to 2021, where the oil exports to the US amounted to 21.645 million barrels, showcasing an increase of 61%.

The figures illustrated that February experienced the highest monthly export rate for 2023, reaching 12.168 million barrels. On the other hand, May recorded the lowest monthly export rate at 9.409 million barrels.

It's worth noting that the peak of Iraq's oil exports to the United States over the past decade was observed in 2018, tallying 104.384 million barrels.

Iraq consistently contributes nearly 10% of its total oil exports to the United States, solidifying its position as one of the leading oil-exporting nations in the US market. Canada, Mexico, and Saudi Arabia are among the top exporters alongside Iraq.