Iraq Targets European Markets in Bid to Diversify Oil Exports

Iraq is seeking to expand its oil sales into Europe as part of efforts to diversify export routes and reduce reliance on the Strait of Hormuz.

This move is aimed at growing and diversifying Iraq's oil exports, which currently rely heavily on the Middle East waterway.

The country has set a goal of increasing its oil production baseline within the OPEC+ alliance to 6 million barrels per day (bpd), a 35% increase from its current quota.