Iraqi Oil Exports via Hormuz Plummet Amid Regional Blockade
Iraqi Oil Minister Basim Mohammed Khudair reported on May 16, 2026, that Iraq's oil exports through the Strait of Hormuz dropped to just 10 million barrels in April, down from a typical 93 million barrels. The collapse is attributed to the U.S. naval blockade and the ongoing conflict between the U.S.-Israeli coalition and Iran. Baghdad is currently engaging with OPEC to find alternative export routes to prevent a total economic collapse as energy prices surge globally.