Iraq Aims to Boost Oil Exports Amid Strait of Hormuz Disruptions

Iraq's Prime Minister Ali al-Zaidi announced plans to expand oil exports through various routes, including Türkiye's Mediterranean port of Ceyhan and Syria's Baniyas and Jordan's Aqaba ports.

The move aims to increase Iraq's share within the OPEC+ framework and boost production to 9-10 million barrels per day in six years. Currently, oil sales account for nearly 90% of Iraq's revenue, but exports have been hindered by the Middle East war between Iran and the United States.

The conflict has choked off the Strait of Hormuz, forcing Iraq to halt production in most of its oil fields due to filled reservoirs. In recent months, Iraqi oil exports have recovered slightly, reaching an average of two million barrels per day in the first two weeks of August.