U.S. Begins Importing Iraqi Oil After Saudis Cut Exports

The United States has begun importing Iraqi oil at a rate of 1.1 million barrels per day to replace export cuts announced by Saudi Arabia late last month, new figures compiled by Bloomberg show.
New data from the Department of Energy suggests that during the first week of June, Iraqi oil entered the U. S. at the quickest rate in the past five years – marking the first time the nation’s exports exceeded those from Saudi Arabia over the same time period.

This post was published at Zero Hedge on Jun 8, 2017.