Iraq oil exports to the US experienced a steep decline last week, signaling a shift in global trade flows. According to the US Energy Information Administration (EIA), Iraq shipped only 85,000 barrels of crude oil per day to the United States. This marked a significant drop from the previous week’s level of 152,000 barrels per day.
This change in Iraq oil exports to the US highlights the volatility of international energy markets. The United States imported an average of 5.13 million barrels of oil per day from ten countries. That figure dropped by 226,000 barrels per day compared to the prior week.
Canada led the group of exporters to the US, sending 3.53 million barrels per day. Colombia followed with 439,000 barrels per day, and Mexico came next with 342,000 barrels per day. These countries remained the most reliable suppliers for American crude demand.
Meanwhile, Saudi Arabia shipped 296,000 barrels of oil daily to the US. Brazil followed with 222,000 barrels per day, while Ecuador contributed 148,000 barrels. Other countries sent smaller volumes. Venezuela exported 35,000 barrels, Libya sent 28,000, and Nigeria only 6,000 barrels per day.
The decline in Iraq oil exports to the US suggests a possible realignment of Iraq’s export strategy. Iraq may be shifting its crude supplies to other markets such as Asia, where demand is rising more rapidly.
Moreover, the overall decrease in US oil imports could reflect rising domestic production or lower demand. Global energy dynamics continue to evolve, with countries like Iraq adapting their strategies to respond to shifting trends.
The reduction in Iraq oil exports to the US might also be influenced by logistical, contractual, or pricing factors. However, this drop comes at a time when oil prices remain volatile due to geopolitical tensions and supply chain uncertainties.
In recent years, Iraq has expanded its presence in Asian markets. China, India, and South Korea have become major buyers of Iraqi oil. This regional shift might be affecting the volume exported to Western nations.
Iraq will likely continue adjusting its export targets in line with global demand. Although US-bound shipments dropped sharply this week, Iraq remains a key player in the international oil market.