[CLSTR]
< Back to situations

Monitor this situation.

[SITUATION] · [ACTIVE] · [BUSINESS]

16 clusters · 62 sources · 53 days · First seen · Last updated

Iraq oil production and economic impact of Hormuz crisis

Overview

Iraq is adjusting its oil production and export strategies in response to a crisis in the Strait of Hormuz caused by US-Israel strikes on Iran. Initially, reports indicated that Iraqi oil exports had dropped from 3.4 million barrels per day to between 1.5 and 1.7 million barrels per day due to maritime trade restrictions. In response, Prime Minister Ali al-Zaidi ordered oil companies to operate 24 hours a day to boost crude production and develop energy infrastructure. By August, exports rose to approximately 2.34 million barrels per day, aided by price discounts and transit permissions from Tehran. In September 2026, the Iraqi Ministry of Oil clarified that while media reports claimed exports reached 4 million barrels per day, that figure was recorded for only a single day. The Ministry confirmed the average daily export rate through September 21 was approximately 2.6 million barrels per day. As of late September, the economic impact has intensified. Prime Minister al-Zaidi reported that Iraq has lost approximately $60 billion in oil revenue since the conflict began. With 90% of the state budget dependent on oil income, the government is struggling to pay salaries, triggering protests in Baghdad. Additionally, nearly 90% of oil exports through Gulf nations have ceased. To diversify export paths, Iraq has signed a one-year agreement with Turkey to export approximately 750,000 barrels of oil per day via the Ceyhan pipeline. In early October 2026, the Iraqi Oil Tankers Company successfully transported two million barrels of crude using a Very Large Crude Carrier (VLCC) outside the Strait of Hormuz. Director General Ali Qais Abdul Jabbar described the operation as the first of its kind in decades, marking a strategic shift from the traditional Free on Board (FOB) model toward a direct delivery system.

Entities

Iraq · Strait of Hormuz · OPEC · Bassem Mohammed Khudair · Saudi Arabia

Claims

What the coverage asserts, and how many sources carry each claim.

Coverage disagrees

Sources make claims that cannot both be true. CLSTR reports the disagreement; it does not decide who is right.

Timeline

  1. [BUSINESS] 4 sources
    Iraq seeks Syrian overland route to bypass Strait of Hormuz

    Iraq is requesting to use Syria as an overland route to transport crude oil to the Mediterranean, aiming to bypass the Strait of Hormuz and secure its energy exports.

  2. [BUSINESS] 17 sources
    Iraqi Oil Tankers Co. moves 2 million barrels of crude past Hormuz

    Iraq’s state tanker company has transported 2 million barrels of crude oil beyond the Strait of Hormuz via a VLCC, marking a major strategic shift in its oil export and pricing model.

  3. [BUSINESS] 4 sources
    Iraq and Saudi Arabia dispute rising oil transport costs

    Saudi Arabia has denied Iraqi claims that its purchase of 25 oil tankers caused a spike in Iraqi crude transport costs, instead blaming regional military tensions and Strait of Hormuz disruptions.

  4. [BUSINESS] 6 sources
    Iraq Ministry of Oil clarifies crude export rates

    The Iraqi Ministry of Oil clarified that its average daily crude oil export rate for September is 2.6 million barrels, denying reports of a sustained 4 million barrel per day export rate.

  5. [BUSINESS] 7 sources
    Iraq plans to diversify oil exports and boost production to 10 million barrels daily

    Iraqi PM Ali al-Zaidi announced plans to boost oil production to 10 million barrels daily and diversify export routes through Turkey and Syria to supply European and American markets.

  6. [BUSINESS] 2 sources
    Iraq and Gulf nations seek energy export alternatives amid Strait of Hormuz risks

    Iraq and Gulf nations are seeking alternative energy export routes to bypass the Strait of Hormuz, while Iraq signs a 25-year deal to expand production at the Ajil oil field.

  7. [BUSINESS] 2 sources
    Iraq plans to expand oil exports through Syria and Türkiye

    Iraq plans to increase oil exports through Syria and Türkiye to over one million barrels per day via new pipeline projects involving Chevron and UCC to diversify its energy routes.

  8. [INTERNATIONAL] 3 sources
    Strait of Hormuz instability triggers fuel shortages in Iraq

    Maritime instability near Kharg Island and the Strait of Hormuz is causing fuel shortages and long queues at gas stations in Iraq as regional conflicts disrupt oil derivative imports.

  9. [BUSINESS] 8 sources
    Iraq faces gasoline shortages amid regional import disruptions

    Iraq faces gasoline shortages and long queues in Baghdad as regional conflicts disrupt fuel imports through the Strait of Hormuz, despite the country's high crude oil production.

  10. [BUSINESS] 3 sources
    Iraq oil exports surge amid Hormuz transit approval

    Iraq's crude oil exports rose to 2.34 million bpd in August, driven by heavy price discounts and Iranian permission for tankers to transit the Strait of Hormuz, benefiting refiners in China and India.

  11. [BUSINESS] 2 sources
    Iraq targets 10 million barrels of daily oil production by 2030

    Iraq aims to reach 10 million barrels of oil production per day by 2030, while developing new pipeline routes through Turkey and Syria to diversify exports and reduce reliance on the Strait of Hormuz.

  12. [BUSINESS] 2 sources
    Iraq aims to double oil production to 10 million barrels per day

    Iraq plans to increase oil production to 8–10 million barrels per day within six years, seeking higher OPEC+ quotas and diversifying export routes to bypass the Strait of Hormuz.

  13. [BUSINESS] 6 sources
    Iraq targets 10 million barrels of daily oil production within six years

    Iraq aims to boost oil production to 8–10 million barrels per day within six years while seeking higher OPEC+ quotas and diversifying export routes to bypass the Strait of Hormuz.

  14. [BUSINESS] 2 sources
    Iraq plans to increase oil exports and provide one million residential plots

    Iraqi PM Ali al-Zaidi announced plans to provide one million residential plots and increase oil exports to 8-10 million barrels per day within six years through new infrastructure and energy reforms.

  15. [BUSINESS] 2 sources
    Iraq orders 24-hour oil operations to boost production

    Iraqi Prime Minister Ali al Zaidi has ordered oil companies to operate 24/7 to increase production and expand export infrastructure following a significant drop in crude exports due to the Strait of Hormuz संकट

  16. [BUSINESS] 3 sources
    Iraq oil exports rise amid global energy transition pressures

    Iraq's oil exports have hit their highest levels since regional conflict disrupted the Strait of Hormuz, while high global prices are driving calls for an accelerated energy transition toward electric vehicles.

Sources

961today.com · 964media.com · alaraby.co.uk · albiladpress.com · almanar.com.lb · almanartv.com.lb · almasalah.com · alrasheedmedia.com · alsaudi.news · alwakeelnews.com · anlatilaninotesi.com.tr · antaranews.com · anwartv2.com · arabnews.jp · arabnews.pk · aris.se · arts-spectacles.com · bairdmaritime.com · businessam.be · capital.gr · correiodamanhacanada.com · due.com · elbalad.news · elperiodicodelaenergia.com · energetika.ba · energymag.gr · english.alsiasi.com · epochtimes.de · europesays.com · finanzmarktwelt.de · fr.businessam.be · gateeg.com · gCaptain.com · gulfnews.com · ilemaurice-tourisme.info · information.tv5monde.com · insider.gr · it-boltwise.de · lesinguliersete.fr · libertyunyielding.com · malatyaguncel.com · marinelink.com · mediaindonesia.com · nemosnewsnetwork.com · newmoney.gr · newsit.gr · oilprice.com · okazalyoum.com

This summary has been updated 20 times: see revision history