Iraq's August Oil Exports Highest Since Start of Conflict
Summary
Iraq's average daily oil exports in early August have reached their highest level since the start of the conflict, even as tensions in the Middle East continue over the Strait of Hormuz. The country is shifting more crude through alternative routes, including Syria and Turkey, after disruption to its usual export path.
Key Points
- Iraq's oil exports averaged 2 million barrels per day in the first 10 days of August, the highest since the conflict began.
- Oil Minister Bassem Mohammed Khudeir said August exports totaled 26 million barrels so far.
- Ali Nijar of SOMO said Iraq exported 355,000 to 370,000 barrels through Hormuz in July, while another 7 million barrels went through the pipeline to Turkey.
- Iraq has diverted crude exports to Syria and Turkey after the Strait of Hormuz became blocked.
