Iraq Exported 49 Million Barrels of Crude in July, Advances Basra-Fishkhabur Pipeline

Iraqi Oil Minister Basim Mohammed Khudair Al-Abadi said at a joint press conference with the governor of Basra on Friday, August 14, 2026 (23 Mordad 1405), that Iraq exported about 49 million barrels of crude oil in July, as talks with Iran and the United States continue over the passage of Iraqi oil shipments through the Strait of Hormuz. According to Shafaq News, Al-Abadi said daily exports have averaged 2 million barrels since the start of August, which he called the first time Iraq has reached that level since the regional crisis began, adding that four tankers were loaded that day and are preparing to sail.

Al-Abadi announced plans for a strategic pipeline linking Basra to Fishkhabur, near the Turkish border, aimed at diversifying Iraq's oil export routes and reducing reliance on the Strait of Hormuz. The project, previously delayed by financial constraints, will be built by a consortium of Chevron, IT Capital and Qatar's UCC under an agreement signed during the Iraqi government delegation's visit to Washington in July. The oil minister said Iraq, OPEC's second largest producer, ships about 90 percent of its crude exports through the Strait of Hormuz.