U.S. crude oil imports from Saudi Arabia and Iraq recently increased, but may decline soon

U.S. Energy Information Administration ----- U.S. crude oil imports from Saudi Arabia and Iraq, two of the United States’ main sources for imported crude oil, have risen since reaching relatively low points in 2014 and 2015. On a combined basis, crude oil imports from these countries are the highest since late 2012. However, recent market developments, including the November 2016 agreement among certain members of the Organization of the Petroleum Exporting Countries (OPEC) to reduce production and the recent widening of price differences between Dubai/Oman crude oil and U.S.-produced Mars crude oil, suggest that U.S. imports from Saudi Arabia and Iraq are now becoming less attractive to U.S. refiners. To learn more about U.S. crude oil imports from Saudi Arabia and Iraq recently increasing, but may soon decline click on the picture below to read more from EIA.