Iraq aims to export 1 million barrels daily via Syria and Türkiye corridors; Hormuz traffic falls to seven vessels
Iraq plans to increase pipeline exports through Syria and Ceyhan port beyond one million barrels daily, while Strait of Hormuz vessel transits dropped to seven.
Iraq plans to lift oil exports through the Syria-Türkiye route to more than one million barrels per day. Oil Minister Bassem Mohammed Khudair stated that Iraq exported approximately three million barrels in September and operates within its OPEC production ceiling. The government intends to expand capacity toward five million barrels once projects at Fishkhabur and Baniyas are finished. These northern and western corridors provide alternative outlets after disruptions to the Strait of Hormuz. Concurrently, preliminary shiptracking data shows vessel transits in the Strait fell to seven on one day, a marginal decrease from twelve vessels previously. This figure also sits below the ten-day average of fourteen. While Iraq restores exports following conflicts involving the United States, Israel, and Iran, China is currently drawing down its crude stockpiles after slashing imports since late February. Paul Gruenwald of S&P Global Ratings noted China's reserves helped avoid a severe energy crisis.
