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Iraq oil exports hit highest level since Middle East war began

Created at 14 Aug · 1:41 PM1 source↑ Market-relevant
IN SHORT

Iraq's average daily oil exports since the start of August have reached 2 million barrels per day, the highest rate since the beginning of the conflict between Iran and the United States. This surge in exports comes despite the war choking off the Strait of Hormuz.

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Key Numbers

2 million barrelsIraq's average daily oil exports in August
26 million barrelsTotal Iraqi oil exports since the start of August

Who's Involved

Bassem Mohammed Khudair
Iraqi Oil Minister
Iran
Nation involved in Middle East war
United States
Nation involved in Middle East war
Iraq oil exports hit highest level since Middle East war began

↳ Why This Matters

Iraq's increased oil exports, despite the ongoing conflict impacting key shipping routes like the Strait of Hormuz, could influence global oil supply dynamics and potentially affect crude oil prices.

Key facts

  • Iraq's average daily oil exports since the beginning of August have reached 2 million barrels per day.
  • This is the highest daily export rate achieved since the start of the Middle East war between Iran and the United States.
  • The war has led to disruptions in the Strait of Hormuz, a critical oil transit point.

Iraq's average daily oil exports since the beginning of August have reached 2 million barrels per day, marking the highest rate since the commencement of the Middle East war between Iran and the United States. The conflict has significantly impacted global oil transit, particularly the Strait of Hormuz.

Iraqi Oil Minister Bassem Mohammed Khudair stated at a press conference that the daily export rate of two million barrels translates to approximately 26 million barrels since the start of the month. He emphasized that this is the first time this daily rate has been achieved since the crisis began.

Frequently asked questions

Iraq's average daily oil exports since the beginning of August have reached 2 million barrels per day.

Yes, the Iraqi Oil Minister stated this is the first time this daily rate has been achieved since the crisis began.

The Strait of Hormuz is a critical chokepoint for global oil transit, and the ongoing war between Iran and the United States has choked off its supply.

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How It Developed

Iraq's average daily oil exports since the start of August have reached 2 million barrels per day.
This daily export rate is the highest recorded since the beginning of the Middle East war between Iran and the United States.
The conflict has significantly impacted the Strait of Hormuz, a key oil shipping route.

Sources

T1
Iraq says daily oil exports at highest level since start of warMiddle East Eye
T2
Iraq Crude Oil: Exports, 1980 – 2026 | CEIC Dataceicdata.com

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