Iraq Oil Exports Collapse Amid Strait of Hormuz Closure

The closure of the Strait of Hormuz has significantly impacted Iraq's oil exports. According to Oil Minister Basim Mohammed Khudair, the country's crude oil production stands at around 2.7 million barrels per day (bpd), while exports range between 1.5mn and 1.7mn bpd.

This is a decline from the pre-escalation figure of almost 3.4mn bpd through the Strait of Hormuz, Khudair said.

The government is exploring alternative routes to diversify crude oil export routes, including the project to export oil through the Port of Aqaba and the Basra-Fishkhabur pipeline project.