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Iraq's October Oil Exports Top 3.4 Million Bpd, Nearing Pre-War Levels
oilprice.com · October 19, 2026 · Week 2026-43
Summary
Iraq's oil exports recovered to over 3.4 million bpd in October, a significant jump of 750,000 bpd from the previous month and nearing pre-war levels. The Iraqi Oil Ministry is actively diversifying export routes beyond the Strait of Hormuz, including pipelines and tanker trucks, to mitigate geopolitical risks. This recovery is critical for Baghdad's finances, which have been severely strained, and signals a strategic shift by the state marketer SOMO to take on more shipping risk to secure buyers.
Strategic Implication
Signals Iraq's push to reclaim its market share and reduce its vulnerability to the Strait of Hormuz, directly impacting OPEC+ supply calculations and regional crude flows.