Iraq risks 80% oil revenue loss in renewed Hormuz closure

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Advisor Mohammed Al-Najjar warned that a renewed Strait of Hormuz closure could cut Iraq’s oil revenues by as much as 80%, disrupting public salaries, services, and the dinar. He said a prolonged conflict involving Iran could push crude prices above $100 per barrel, potentially reaching $130.

A renewed closure of the Strait of Hormuz could slash Iraq’s oil revenues by up to 80 percent, threatening government salaries, public services and the dinar, development and investment advisor Mohammed Al-Najjar has warned. Al-Najjar said a prolonged conflict involving Iran could keep crude prices above $100 per barrel, potentially reaching $130. Higher prices would ...