Hormoz causes oil market turmoil
Iraq's oil exports have seen diversification in their outlets, with a 30% discount offered on prices in an effort to boost sales. This comes as part of the government's efforts to increase exports and reduce reliance on a single gateway. These measures are being implemented amidst the volatility of the oil market, where the Hormuz Strait disrupts markets and leads to ongoing price hikes. Meanwhile, Iraq is striving to improve its export options to enhance its oil revenues.
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