Iraq's Oil Exports Through Strait of Hormuz Surge in August

Iraq's oil exports through the Strait of Hormuz have surged in August, rising to approximately 2.34 million barrels per day (bpd) from 1.35 million bpd in July, according to data from two Iraqi energy officials and vessel-tracking firms.

Although these volumes remain below the pre-war level of over 3.5 million bpd, the increase is expected to benefit refiners in India and China that are equipped to process Iraq's heavier, higher-sulfur crude.

The development follows reports from Iranian state media that Tehran permitted several oil tankers carrying Iraqi crude to transit the Strait of Hormuz, easing Baghdad's export bottleneck.