Iraq Markets Oil Without Strait Routing

A report from Bloomberg Network revealed that Iraq's Southern Oil Company (SOMO) has begun selling oil to the global market through Omani ports outside the Strait of Hormuz for the first time since the start of the war. This move is part of Iraq's efforts to avoid dependence on the Strait of Hormuz, through which about 80% of Iraqi oil exports pass, following the potential closure by Iran. This step is strategic in providing alternative export routes and boosting Iraq's resilience in the global oil market.

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