US Ditches Iraqi Oil Imports Amid Iran War Disruptions

The United States has not imported any crude oil from Iraq for five consecutive weeks, according to data released by the US Energy Information Administration (EIA). This marks a significant shift in the country's energy imports. Canada remained the largest foreign supplier of crude to the US during this period, exporting an average of 3.62 million barrels per day.

The EIA data also showed that Iraq last exported crude to the US on June 19, when shipments averaged 71,000 bpd. The country's oil production has been disrupted due to the ongoing war with Iran, resulting in an estimated loss of 302.8 million barrels during the first half of this year.

Iraq relies heavily on crude sales for about 90% of its state revenue, making it highly vulnerable to disruptions in global energy markets. The Strait of Hormuz, a key waterway through which oil exports pass, carries approximately one-fifth of global oil supplies.