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The Iraqi Prime Minister, Ali Al-Zaydi, emphasized the necessity of accelerating the efforts of oil companies to operate around the clock to ensure the sustainability of production and export operations, especially in light of the crisis caused by the closure of the Strait of Hormuz, which has led to a decline in Iraq's ability to export oil through its main maritime outlet. Al-Zaydi directed for the rehabilitation and development of pipeline infrastructure and contracting international companies to market and sell Iraqi oil, taking advantage of the current circumstances to expand export outlets and turn the crisis into an opportunity to develop the oil infrastructure. In August, Iraq's exports reached approximately two million barrels per day, the highest rate since the outbreak of the war, yet still below pre-crisis levels, which amounted to 105 million barrels monthly. The ministry is working on expanding the pipeline network and increasing export outlets, including exporting oil via the Turkish port of Ceyhan and a pipeline from Basra to Feshkhabour, in addition to an agreement with Turkey to extend export understandings. The government also plans to raise oil production to 7 million barrels per day within the next three years, with goals to develop infrastructure and attract investments. Oil accounts for more than 90% of Iraq's budget revenues, making the continuation of exports essential to strengthen the country's public finances.
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