Iraq Prepares to Resume Oil Exports as Soon as Hormuz Strait Reopens, 1M Barrels/Day Targeted

According to Jin10, Iraq's Oil Ministry spokesman Salim al-Rikabi stated on June 17 that the country is preparing to resume oil exports as soon as maritime shipping normalizes through the critical Strait of Hormuz. Rikabi said Iraq is completing procedures to assign tankers for loading Iraqi crude. Another source indicated that some buyers have already informed Iraq's state marketing organization SOMO which tankers they wish to use for loading, with SOMO processing these requests. Iraq's moves highlight Middle Eastern major oil producers preparing to restore shipments through the Strait of Hormuz.
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