Iraq’s oil exports dip to 500,000 bpd in May-June

AI Summary

Iraq's oil exports have declined to approximately 500,000 barrels per day during May and June due to the ongoing closure of the Hormuz Straits, keeping the nation largely cut off from global markets. The reduced exports generated around $2.3 billion in revenue during this period.

Iraq’s oil exports dipped to one of their lowest levels of just over 500,000 barrels per day (bpd) during May and June as OPEC’s second largest crude producer remained shut off global markets with the continued closure of Hormuz Straits. The exports fetched the Arab nation just around $2.3 billion, a fraction of its oil ...