Al-Saadi: Iraqi oil shipments will continue to flow through the Strait of Hormuz after coordination with Tehran.
Former MP Baqir al-Saadi confirmed on Thursday that Iraqi oil shipments will continue to flow to international markets via the Strait of Hormuz, following coordination with Tehran.
Speaking to Al-Maalouma, al-Saadi said, “The coming days will witness the flow of more oil shipments produced from Iraqi fields via giant tankers towards international markets through the Strait of Hormuz, in coordination with Tehran to secure safe passages.”
He added that “the return of Iraqi oil to global markets is very important for Baghdad’s economy,” stressing that “Iraqi fields will compensate for lost production by increasing their output rates, which will positively impact the next phase.”
Al-Saadi explained that “oil represents more than 90% of Iraq’s revenues,” noting that “coordination between Baghdad and Tehran is very important and has begun to bear fruit in securing safe passages for tankers carrying Iraqi oil to international markets.”
Almaalomah.me