Iraq says it reaches understandings with the United States to resume crude oil exports through a designated shipping lane in the Strait of Hormuz near Oman, with Foreign Minister Fuad Hussein describing it as relief after disruptions tied to the Iran-related conflict.
Hussein says Iraq has suffered about $60 billion in losses and that exports recovered in October, rising to around 3.5 million barrels per day from about 2.65 million in September, according to Iraqi energy officials. Several outlets frame the agreement as part of ongoing efforts to manage the impact of regional tensions on oil flows.
Outlets also highlight that the understandings coincide with US requests affecting Iraq’s trade and movement with Iran. One report says Washington has asked Baghdad to close almost all commercial border crossings with Iran, leaving only two open, including one in the Kurdistan region, as part of wider pressure on Tehran. Iranian officials are also mentioned as issuing warnings and a negotiating proposal, though details on timing and positions differ by source.
