EnergyIraq

Iraq agrees with US on oil exports through Hormuz

Iraq says it has reached understandings with the United States to ship oil through the Strait of Hormuz. It also puts its losses from the Iran war at $60 billion.

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Iraq has reached understandings with the United States that would let Iraqi oil exports pass through the Strait of Hormuz. The route runs through a shipping lane near Oman. Foreign Minister Fuad Hussein described the arrangement in an interview with Al Jazeera.

Hussein said Iraq's losses from the Iran war and from disruptions to its oil exports had reached $60 billion. The figure is the minister's own estimate.

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Iraqi oil exports recovered in October after a sharp fall the month before. Iraqi energy officials say exports rose to about 3.5 million barrels a day from 2.65 million in September.

Iraq oil exports

  • September2.65 million barrels a day
  • October3.5 million barrels a day

Figures are from Iraqi energy officials.

Hussein also said the US Treasury asked Iraq to close all its border crossings with Iran except two. He described the request as part of Washington's policy of raising economic pressure on Tehran. One of the crossings that would stay open is in the Kurdistan region.

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