Oil clarifies Iraq's missing from US crude list
The Ministry of Oil confirmed that Iraq's absence from the list of crude oil suppliers to the United States recently is due to security and geopolitical conditions in the Gulf region, particularly as a result of military operations between the U.S. and Iran and the closure of the Strait of Hormuz. This has led to delays in Iraqi oil exports through southern ports and increased insurance and transportation costs. Nonetheless, it was clarified that Iraqi oil does not lose its appeal to the American market, and the abundance of alternative grades such as Canadian, Venezuelan, and Brazilian oil temporarily reduces competitiveness, especially given the higher cost of delivering Iraqi oil due to current circumstances. It was emphasized that marketing policies still focus on achieving the highest returns for Iraq and diversifying markets, with the U.S. market remaining one of the priorities for exports.
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