Kurdistan's Oil Exports Plummet Amid Regional Tensions

Oil exports from the Kurdistan Region have plummeted due to regional tensions and the closure of the Strait of Hormuz, according to a senior SOMO source. Daily production and exports have dropped dramatically, falling from 230,000 barrels per day to just 20,000 barrels.

The crisis has had a direct impact on oil production and export levels in both Iraq and the Kurdistan Region. The closure of the Strait of Hormuz has severely limited Iraq's pipeline exports, which are now at 60,000 barrels per day.

In July, Iraq exported a total of 42 million barrels of crude oil, including 7 million barrels shipped through the Kurdistan Region pipeline to the Turkish port of Ceyhan. The average daily oil production in Iraq reached 1.95 million barrels during the same period.