Iraq's Hormuz Crude Exports Drop to 30 Million Barrels in a Month

Iraq exported over 30 million barrels of crude oil through the Strait of Hormuz in one month, according to maritime tracking firm Kpler data released Tuesday. This marks a significant reduction from pre-war levels. Before the Middle East war disrupted shipments, Iraq produced about four million barrels per day and exported an average of 105 million barrels monthly, mostly via its Basra terminal through Hormuz. Kpler detected roughly 30 million barrels passing through the strait between July 4 and August 4. SOMO head Ali Nizar said July exports via Hormuz totaled 35.5 to 37 million barrels, with an additional seven million barrels sent through an Iraq-Türkiye pipeline. Crude exports normally provide about 90 percent of Iraq's revenues, which have fallen from $8 billion monthly to barely $1.5 billion.