Iraq's newly appointed Oil Minister, Basim Mohammad, stated in a press conference on Saturday that the country exported 10 million barrels of crude oil in April through the Strait of Hormuz, marking a sharp decline from the pre-Iran war levels of approximately 93 million barrels per month.
اضافة اعلان
Oil exports from Saudi Arabia, the UAE, Kuwait, and Iraq have severely contracted following the closure of the Strait of Hormuz due to the ongoing conflict, triggering a massive surge in global oil prices.
Iraq had resumed crude exports via the Kirkuk-Ceyhan pipeline in March, following an agreement between Baghdad and the Kurdistan Regional Government (KRG) to restart the flows.
Mohammad noted that Iraq is currently exporting 200,000 barrels per day (bpd) through the Port of Ceyhan, with plans to scale up this volume to 500,000 bpd.
The Oil Minister added that Iraq intends to cooperate with the Organization of the Petroleum Exporting Countries (OPEC) to boost the country's production and export capacity, pointing out that Baghdad is targeting a total production capacity of 5 million bpd.
Source: Reuters
