U.S. Imports of Iraqi Crude Hit Lowest Level Since 2003 War
Source Summary
U.S. imports of Iraqi crude oil have fallen to a multi-decade low in 2024, with shipments dropping to zero in several weeks during summer, according to EIA data. The decline follows the closure of the Strait of Hormuz, which forced Iraq to reduce oil production. Iraq's primary export route is through the Strait of Hormuz, while its northern pipeline through Kurdistan can carry only about 500,000 barrels per day.
Why it matters
The disruption to Iraqi oil exports demonstrates how regional maritime crises directly reduce U.S. energy supplies from a major OPEC producer.
