Reopening of Hormuz Boosts Iraqi Oil Exports
International analysts have confirmed that reopening the Strait of Hormuz is an important step in restoring oil flows from the Middle East, including Iraqi exports. However, the market needs time to fully recover due to logistical challenges and the accumulation of halted oil tankers. According to a report from S&P Global, oil production in the region decreased to 13.406 million barrels per day in May, compared to 23.475 million barrels in February, reflecting the impact of the crisis on supplies. Oil experts expect the gradual recovery process to continue until 2026, with the possibility of reaching previous levels by 2027.
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