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Shafaq News
3 days ago
- Business
- Shafaq News
EIA: Iraqi oil exports to US fall by 48,000 bpd
Shafaq News – Baghdad/Washington The United States scaled back crude oil imports from Iraq last week, according to data released Sunday by the US Energy Information Administration (EIA). The EIA reported that US crude imports from 10 major suppliers averaged 5.416 million barrels per day (bpd), down 772,000 bpd from the previous week's 6.188 million bpd. Iraqi oil exports dropped to 164,000 bpd, a decrease of 48,000 bpd from the prior week's 212,000 bpd. Canada remained the largest supplier, exporting 3.766 million bpd to the US, followed by Ecuador with 441,000 bpd, Mexico with 414,000 bpd, Brazil with 231,000 bpd, and Saudi Arabia with 148,000 bpd. Other notable exporters included Colombia (124,000 bpd), Libya (90,000 bpd), Nigeria (38,000 bpd), and Venezuela (25,000 bpd).
Iraqi News
6 days ago
- Business
- Iraqi News
Iraq's oil exports to US surpass 6 million barrels in June
Baghdad ( – The US Energy Information Administration (EIA) revealed on Thursday that Iraq exported over six million barrels of oil to the United States in June 2025. The EIA mentioned that Iraq's crude oil exports to the United States during June rose to 6.43 million barrels compared to 5.54 million barrels in May 2025, Shafaq News reported. Iraq exported an average of 312,000 barrels of crude oil per day to the United States during the first week of June, 183,000 barrels per day during the second week, 212,000 barrels per day during the third week, and 164,000 barrels per day during the fourth week, according to figures released by the EIA. The EIA indicated that Iraq was the sixth-largest oil exporter to the United States during June, following Canada, which was the largest oil supplier to the United States, Mexico, Saudi Arabia, Brazil, and Nigeria. Iraq was the second-largest oil supplier to the United States in the Arab region, following Saudi Arabia, which exported 10 million barrels, and Libya, which exported a total of 4.16 million barrels. Iraq's crude oil and oil derivative exports to the United States exceeded 95 million barrels in 2024. Iraq's oil exports to the United States have increased significantly in the last few years, often achieving record levels within a single month. This growth can be attributed to Iraq's ability to increase oil production and the growing demand globally.
Shafaq News
6 days ago
- Business
- Shafaq News
Iraq crude exports to US rise to 6.4 million barrels in June
Shafaq News – Baghdad/Washington Iraq exported 6.433 million barrels of crude oil to the United States in June, up from 5.548 million in May, according to data from the US Energy Information Administration (EIA). The figures showed average daily shipments reached 213,000 barrels in the first week of June, fell to 183,000 in the second, climbed to 212,000 in the third, and declined to 164,000 in the final week. Overall, Iraq ranked sixth among the top crude suppliers to the US last month, following Canada, Mexico, Saudi Arabia, Brazil, and Nigeria. Among Arab oil exporters, Iraq came second after Saudi Arabia, which delivered 10 million barrels. Libya ranked third with 4.166 million barrels.
Qatar Tribune
7 days ago
- Business
- Qatar Tribune
Oil prices rise on Red Sea attacks, lower US output
Agencies New York Oil prices rose due to attacks in the Red Sea and lower US production, with Brent crude reaching $70.63 per barrel and WTI climbing to $68.84per barrel US President Trump announced a 50 percent tariff on copper imports, aiming to boost domestic production, while OPEC+ is preparing for a significant production boost in September Despite concerns about tariffs affecting oil demand, strong travel activity during the US Fourth of July holiday supported consumption, with a likely increase of 7.1 million barrels in US crude stockpiles Oil prices rose on Wednesday, maintaining their highest levels since June 23, supported by attacks on ships in the Red Sea, alongside concerns over sharp US tariffs on copper and expectations of reduced oil production in the United States. Brent crude futures rose by 48 cents, or 0.7 percent, to $70.63 per barrel by 08:55 GMT, while US West Texas Intermediate crude climbed by 51 cents, or 0.8 percent, to $68.84 per barrel. After months of calm in the Red Sea, attacks resumed last week in this vital global shipping route. Sources indicated that the Iran-backed Houthi militia in Yemen was behind the latest incidents. A rescue operation is currently underway for the crew of a cargo ship that sank in the Red Sea following an attack that killed at least four crew members. The Houthis have not yet claimed responsibility for the strike. Oil prices were also supported by a report from the US Energy Information Administration released Tuesday, which projected lower oil output in 2025 compared to earlier forecasts, citing slower activity among American producers due to falling prices. On Tuesday, US President Donald Trump said he would announce a 50 percent tariff on copper imports, aiming to boost domestic production of the metal — vital for electric vehicles, military equipment, power grids, and a range of consumer goods. This announcement came as Trump postponed some tariff deadlines to August 1, offering key trading partners hope that deals could be reached to ease the tariffs, though many companies remain uncertain about the future direction. Despite concerns that tariffs may curb oil demand, strong travel activity during the US Fourth of July holiday supported consumption, and data suggested a likely increase of 7.1 million barrels in US crude stockpiles. In a research note, oil brokerage PVM said: 'With attacks in the Red Sea and increased summer fuel consumption in the U.S., expectations of a future supply glut should take a back seat to short-term realities.' Official US crude inventory data from the Energy Information Administration is due at 14:30 GMT. Meanwhile, OPEC+ oil producers are preparing for another significant production boost in September as they continue to unwind voluntary supply cuts previously agreed upon by eight member states. The UAE is also transitioning to a higher production quota, according to five informed sources. This follows the group's Saturday announcement of a supply increase of 548,000 barrels per day for August. Suvro Sarkar, head of the energy sector team at DBS Bank, said: 'Oil prices have shown surprising resilience in the face of accelerating supply increases from OPEC+.' UAE Energy Minister Suhail Al Mazrouei said Wednesday that oil markets are absorbing OPEC+ supply hikes without stockpile build-ups, indicating that markets are 'thirsty' for more oil. 'You can see that even with the continuous increases over several months, we haven't seen significant stockpile accumulation — meaning the market genuinely needed these volumes,' Mazrouei added.
India.com
08-07-2025
- Politics
- India.com
Days after ceasefire with Israel, Iran receives powerful surface-to-air missile batteries from this country in exchange of..., plans to...
Days after ceasefire with Israel, Iran receives powerful surface-to-air missile batteries from this country in exchange of..., plans to... In a strategic move, Iran has received Chinese surface-to-air missile batteries. This move comes after many of Iran's defensives were destroyed by Israel during their recent 12-day conflict. Interestingly, deliveries of Chinese surface-to-air missile batteries occurred after a de-facto truce was struck between Iran and Israel on 24 June. Was US aware of the move? According to reports, the US's Arab allies were aware of Tehran's efforts to 'back up and reinforce' its air defences and that the White House had been informed of Iran's progress. China is the largest importer of Iranian oil, and the US Energy Information Administration suggested in a report in May that nearly 90 percent of Iran's crude and condensate exports flow to Beijing. For several years, China has imported record amounts of Iranian oil despite US sanctions, using countries such as Malaysia as a transshipment hub to mask the crude's origin. Is this new beginning of China-Iran relationship? The shipments mark a deepening of Beijing's relationship with Tehran and come as some in the West noted that China and Russia appeared to keep a distance from Iran amid Israel's unprecedented attacks. Israel achieved air superiority over Iran's skies during the conflict, destroying ballistic missile launch pads and assassinating Iranian generals and scientists. US President Donald Trump has claimed that Israel and Iran had agreed to a 'complete and total ceasefire' soon after Iran launched a limited missile attack on a US military base in Qatar, retaliating for the American bombing of its nuclear sites.
