Iraq surpassed Saudi Arabia as a crude supplier to the U.S. in September, and it’s poised to repeat that this month.
Iraq’s 18.8 MMbbl in oil shipments to the U.S. last month topped those from the kingdom, the world’s biggest oil exporter, by about 2.9 MMbbl, according to U.S. Customs Bureau data compiled by Bloomberg oil-market specialist Bert Gilbert. So far in October, Saudi Arabia lags Iraq by about 3.2 MMbbl.
The kingdom has been a larger supplier to the U.S. for most of the past quarter century, data from the Energy Information Administration show. Iraq sent more than 1 MMbopd last week to the U.S., about 500,000 bpd more than the kingdom.