Iraq Boosts Oil Exports as More Tankers Transit Strait of Hormuz

Iraq is accelerating oil loadings at its main port and boosting shipments out of the Persian Gulf in the latest sign that the region’s top OPEC producers are getting more barrels through the vital Strait of Hormuz.

Observed shipments of Iraqi oil exiting Hormuz or loading at the country’s southern port of Basrah total about 7 million barrels so far this month, according to tanker-tracking data compiled by Bloomberg. That already matches the total volume of crude loaded and shipped in April and May, and follows a slew of departures of stranded tankers laden with Iraqi oil at the end of last month.