Iraq calls for Basra oil loading outside Strait

Iraq has added a new offering to sell Basra crude oil for shipments transported from outside the Strait of Hormuz, aiming to reduce dependence on this vital waterway, while continuing efforts to expand its oil export options. The offering includes shipments that can be transferred between tankers near the Omani coast, with a deadline of August 28. This move comes amid Iranian permits granted to Iraqi ships to pass through the Strait of Hormuz, after Iraq was producing around 4 million barrels per day before the war. Iraq is now seeking to increase its exports and lessen reliance on the strait.

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