Iraq Expects Higher Oil Exports as Baghdad Seeks Alternative Export Routes

Iraq is taking steps to safeguard the stability of its crude oil exports amid regional tensions and growing challenges facing maritime traffic in the Gulf and around the Strait of Hormuz.

Data from Iraq’s state-owned oil marketing company, SOMO, showed that the country’s average crude exports reached around 3.38 million barrels per day in August, while September shipments are expected to rise to between 3.4 and 3.45 million barrels per day.

Alongside efforts to increase export volumes, Baghdad is also exploring alternative routes for transporting crude in an effort to reduce the impact of potential disruptions to regional maritime traffic and maintain a steady flow of oil revenues.