5 Arab Nations Export Nearly 19 Million Barrels to the US
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KUWAIT CITY, Jan 18: Official data shows the total crude oil exports of five Arab countries — Saudi Arabia, Iraq, Libya, Kuwait, and the Emirates — to the United States of America are in the range of 18.687 million barrels worth $17.64 billion during the 11 months of 2023, reports Al-Seyassah daily. According to the Ministry of Commerce, Kuwait ranked fourth in oil exports to the United States during this period, with a value of $547.25 million and quantities totaling 6.66 million barrels. In November 2023 a total 651 thousand barrels were exported worth around $53.425 million.
Kuwait had not exported oil to the US in October. In September, it exported 759 thousand barrels worth $64.58 million, and in August, 1.62 million barrels valued at $149.51 million. Saudi Arabia led the list of oil-exporting countries, with exports valued at $9.886 billion and quantities reaching around 118.588 million barrels. Iraq came second with exports valued at about $5.477 billion and quantities amounting to 74.233 million barrels. Libya secured the third spot with exports of about 15.041 million barrels valued at $1.3 billion.
The United Arab Emirates ranked fifth, exporting approximately 5.124 million barrels with a value of about $434.152 million during the specified period. The total oil imports in the United States during the 11 months of 2023 amounted to about 2.130 billion barrels, worth $151.248 billion. In November alone, oil imports reached 201.455 million barrels, valued at $15.485 billion. Meanwhile, Chevron’s CEO, Michael Wirth, highlighted the risks to oil flows and prices due to the crisis in the Red Sea.
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