Iraq Exports Oil via Supertanker Beyond the Strait of Hormuz

Iraq's state tanker company has moved a VLCC supertanker with a capacity of 2 million barrels beyond the Strait of Hormuz for the first time in ten years. The CEO of Iraqi Oil Tankers Co., Ali Kais Abdul Jabbar, stated that this event marks a shift in the strategy for selling Iraqi oil, as the company takes on the logistics of transportation independently. Delivering oil beyond the strait will help attract refineries that previously avoided shipments through Hormuz, improving pricing conditions and minimizing discounts for customers. Iraq's crude oil exports rose to 2.6 million barrels per day by September 21, up from 2 million in August, but still below pre-war levels of 3.3-3.5 million barrels. Iraq is also considering alternative export routes, including a northern route through Turkey and a pipeline project to the Syrian port of Baniyas.

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