Iraq exported 10 million barrels of oil though Hormuz in April, oil minister says

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, Report informs via The Times of Israel.

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.

Iraq's crude exports through the Kirkuk–Ceyhan oil pipeline resumed in March, after Baghdad and the Kurdistan Regional Government agreed on restarting flows.

"We export 200,000 barrels through Ceyhan port, and we have a plan to increase it to 500,000 barrels," Mohammed says.

Iraq plans to engage with OPEC to boost the country"s production and export capacity, the minister says, adding that Baghdad aims to reach a production capacity of 5 million barrels per day.