Iraq Reaches Understanding With U.S. To Export Oil Through Hormuz Near Oman
Iraq’s Foreign Minister Fuad Hussein said on November 8, 2026, that Baghdad has agreed with the United States on a way to send Iraqi crude through the Strait of Hormuz, along a shipping lane close to Oman.
Speaking to Al Jazeera, he put the cost of the Iran war and the export disruptions to Iraq at $60 billion.
However, Iraqi energy officials said October shipments recovered to about 3.5 million barrels per day (bpd), compared with 2.65 million bpd in September.
Hussein further said that the U.S. Treasury wants Iraq to shut every border crossing with Iran except two, as Washington turns up economic pressure on Tehran.
Shutting every one of them would be hard and would hurt the economy, he said, adding that the Americans keep pressing and talks are still on.
Iraq had shut the busy Sheeb crossing last month to review security and fit equipment that detects smuggling.
Most of Iraq’s crude leaves from southern terminals, which is why the Strait of Hormuz matters so much for its exports.
Tehran has restricted traffic through the strait since the war began on February 28 and wants vessels to use routes it authorises, while the U.S. has put a naval blockade on Iranian ports. In normal times, around one-fifth of global oil consumption moves through the waterway.
References: Reuters, Middle East Eye live blog, Arab News (Reuters).
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