Iraq reaches US understanding to resume oil exports through Strait of Hormuz, says foreign minister

The Economic Times9 Nov 2026, 06:18 PKTvia NewsData.io

Iraq has reached an understanding with the US to allow its oil exports through the Strait of Hormuz using a shipping lane near Oman, Foreign Minister Fuad Hussein said. Iraq's losses from the Iran war and disruptions to oil shipments have reached $60 billion. Exports recovered to 3.5 million bpd in October.

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