Iraqi Oil Floods Into U.S. as Saudi Arabia Cuts Back: Chart

(Bloomberg) -- 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.

--With assistance from Michael Roschnotti

To contact the reporter on this story: David Marino in New York at dmarino4@bloomberg.net.

To contact the editors responsible for this story: David Marino at dmarino4@bloomberg.net, Mike Jeffers