Saudi, Canada lead U.S. oil suppliers

Gary Park, Petroleum News Calgary correspondent

Saudi Arabia and Canada were the mainstay exporters of crude oil to the United States in January, filling the supply shortfall from Venezuela.

The U.S. Energy Information Administration reported that Saudi shipments averaged 1.82 million barrels per day, while the National Energy Board said Canada’s shipments averaged 1.46 million barrels per day of light and heavy crude, up 6 percent from a year earlier.

Iraq’s oil exports averaged 600,000 barrels per day, up from 366,000 barrels in December 2002, but the war has since cut off those volumes.

Venezuela, which exported 1.25 million barrels per day in January 2002, has been steadily rebuilding production since its Dec. 2 oil strike.

Total U.S. imports for the month were 8.54 million barrels per day, down 81,000 barrels from December.