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Iraq Hikes Oil Exports via Hormuz in Boon for Asian Refiners
OPEC’s second-largest producer, Iraq, more than doubled its crude oil exports via the Strait of Hormuz in August as it offered month-watering discounts for loadings at Basrah in the Persian Gulf and Iran allowed Iraqi oil cargoes to…
AI Summary
Iraq more than doubled its crude oil exports through the Strait of Hormuz in August, taking advantage of Iran’s permission for Iraqi cargoes to transit the chokepoint. The surge was driven by month‑watering discounts offered for loadings at the Basrah terminal in the Persian Gulf. The increased flow is expected to benefit Asian refiners seeking lower‑priced crude.
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