Iraq's oil exports plunge sharply amid supply disruption

Iraq’s oil exports fell to 18.6 million barrels in March, compared to 99.87 million barrels in February, following the closure of the Strait of Hormuz, according to official data released on April 13.

The State Organisation for Marketing of Oil reported that revenue also dropped to $1.95 billion, down from more than $6.81 billion, Caliber.Az reports via foreign media.

According to the data, exports from the Kurdistan Region of Iraq via the Turkish port of Ceyhan also decreased to 1.27 million barrels, compared to 5.55 million barrels in February.

The decline comes amid regional instability linked to the ongoing US–Israeli conflict with Iran, which has disrupted energy flows and raised risks along key export routes, including the Strait of Hormuz, the main corridor for Iraq’s oil shipments.

By Jeyhun Aghazada