Iraqi oil exports to the US moved ahead of Saudi Arabia’s by approximately 2.9 million barrels in September, Bloomberg reports.
The trend has continued in October with Iraq having exported close to 3.2 million more barrels of oil to the US this month, according to the news agency.
The country’s crude exports to the US totaled 18.8 million barrels in September, Bloomberg reports.
The rise in exports to the US seems to counter previous statements by Iraqi officials. The country has indicated its plan to pivot away from traditional Western markets to target Asian markets, Platts reported last month.
Saudi Arabia has embarked on a round of significant production cuts, leaving opportunities for its rivals to aquire market share. In September, the country cut exports by 520,000 barrels per day (b/d).
Saudi Arabia and Iraq are the largest oil producers in OPEC and are subject to the production-cut agreement between OPEC and a number of other oil-producing nations. Per the agreement, the signatories are to collectively cut 1.8 million b/d.