Mexico Nov oil exports to US highest in 9 months-EIA

www.alertnet.org ------------------------------------------------------------------------13 Jan 2003 21:45 By Tom Doggett

WASHINGTON, Jan 13 (Reuters) - Mexico's oil exports to the United States in November reached the highest level in nine months, making the country the top foreign crude supplier to the U.S. market for the month, the Energy Information Administration said on Monday.

Mexico shipped an average 1.531 million barrels of oil per day to the United States in November, up 4,000 barrels per day (bpd) from the month before and the most since February.

Mexico rose two spots to become the biggest U.S. crude supplier for November, based on preliminary data from importing firms.

Saudi Arabia's oil exports fell 159,000 bpd from October to 1.474 million bpd in November, dropping the country from first to second place for the month.

Canada dropped one spot to third place, as the country's exports were down 117,000 bpd to 1.453 million bpd.

U.S. imports of Venezuelan crude averaged 1.438 million bpd, down 15,000 bpd from October and leaving the country in fourth place.

Venezuela's oil shipments for December are expected to show a huge decline when that month's EIA data is compiled, because of a disruption in exports due to the country's oil workers strike.

OPEC ministers agreed over the weekend to increase the cartel's oil production by 1.5 million bpd to help offset some of the lost Venezuelan oil.

Iraq's oil exports to the United States soared 77 percent, or 166,000 bpd, to an average 381,000 bpd in November -- their highest level since May but still at less than half the prior year's average daily shipments.

A U.S. military attack on Iraq would likely cut off that country's oil shipments. OPEC said it would not be able to produce enough oil to make up for the crude lost from both Iraq and Venezuela at the same time.

Total U.S. oil imports were 9.529 million bpd in November, up less than 1 percent from 9.495 million bpd the month before and the second highest since July 2001.

The following is EIA data on shipments from major U.S. oil suppliers and total monthly crude imports:

U.S. OIL IMPORTS

(million barrels per day) COUNTRY Nov Oct Sept Aug July June May 2001

avg Mexico 1.531 1.527 1.417 1.475 1.515 1.447 1.509 1.394 Saudi Arabia 1.474 1.633 1.512 1.411 1.354 1.565 1.503 1.611 Canada 1.453 1.570 1.412 1.537 1.355 1.450 1.454 1.356 Venezuela 1.438 1.453 1.302 1.514 1.331 0.958 1.106 1.291 Britain 0.632 0.486 0.278 0.480 0.471 0.580 0.402 0.244 Nigeria 0.589 0.549 0.489 0.792 0.539 0.691 0.537 0.842 Norway 0.421 0.308 0.294 0.402 0.356 0.498 0.424 0.281 Angola 0.390 0.246 0.329 0.211 0.298 0.446 0.353 0.321 Iraq 0.381 0.215 0.148 0.246 0.301 0.167 0.436 0.795 Colombia 0.267 0.232 0.263 0.217 0.199 0.204 0.202 0.260 Kuwait 0.230 0.182 0.286 0.169 0.238 0.244 0.163 0.237 Gabon 0.193 0.088 0.164 0.170 0.206 0.123 0.188 0.140 Russia 0.085 0.209 0.104 0.100 0.079 0.078 0.220 0 ALL IMPORTS 9.529 9.495 8.796 9.545 9.010 9.229 9.205 9.328