Iraq oil exports collapse to 10m barrels in April
Iraq’s oil exports through the Strait of Hormuz fell to 10 million barrels in April from about 93 million barrels a month before the Iran war, Oil Minister Basim Mohammed said. He said tanker arrivals had been hit by insurance issues after the strait’s closure.
BAGHDAD: Iraq exported 10 million barrels of oil via the Strait of Hormuz in April, down from about 93 million barrels monthly before the Iran war, the country's new Oil Minister, Basim Mohammed, said at a press conference on Saturday.
The closure of the Strait of Hormuz due to the Iran war has curtailed oil exports from Saudi Arabia, the UAE, Kuwait and Iraq, sending prices sharply higher.
"Exports through the Strait of Hormuz are low and depend on the arrival of oil tankers, which are not entering because of insurance," he said in his first press conference after taking office.
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