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Iraqi Oil Floods Into U.S. After Saudi Arabia Cuts Back

The Bin Omar natural gas station, north of the southern Iraqi port of Basra, on Jan. 12, 2017.
Photographer: Haidar Mohammed Ali/AFP/Getty Images

Move over, Saudi Arabia: here comes Iraq. The country’s crude flooded into the U.S. at the fastest rate in five years during the week ended June 2, according to preliminary Energy Department data, exceeding Saudi shipments for the first time in that period. Iraq boosted exports in May to the highest since December, even as OPEC nations agreed to extend production cuts.