DECEMBER 9, 2022
Iraq News USA News

Ambiguity Surrounds Surge in Iraqi Oil Exports to the US

Ambiguity Surrounds Surge in Iraqi Oil Exports to the US

Iraq's oil exports to the United States surged in March, reaching over 5 million barrels, as reported by the US Energy Information Administration (EIA). However, questions linger regarding whether these exports represent legitimate transactions or if there are concerns of misappropriation.

According to the EIA, Iraq exported 5.483 million barrels of crude oil to the US in March, averaging 176 thousand barrels per day (bpd). This marks an increase from February's exports, which stood at 4.379 million barrels with an average of 173 bpd.

The EIA provided a breakdown of weekly exports, revealing a notable fluctuation. Iraqi exports to the US started at an average of 93 thousand bpd in the first week of March, escalating to 252 thousand bpd in the second week, and then maintaining high levels at 244 thousand bpd in the third week. However, exports dipped slightly to an average of 91 thousand bpd during the fourth week.

Iraq's position in the ranking of US oil suppliers also drew attention. Despite ranking fifth overall in exports to the US for the month, following Canada, Mexico, Saudi Arabia, and Brazil, Iraq stood out as the second-largest Arab exporter, trailing behind only Saudi Arabia, which surpassed 9 million barrels in exports to the US.

The ambiguity surrounding the sudden surge in Iraqi oil exports raises questions about the transparency and legitimacy of these transactions. While the data suggests a substantial increase in exports, it remains unclear whether this reflects a genuine uptick in trade or potential discrepancies in reporting. Further scrutiny may be necessary to ascertain the true nature of these transactions and ensure accountability in the oil trade between Iraq and the US.

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