Iraq's Oil Minister: Talks With Iran Continue on Iraqi Oil Exports Transiting Hormuz

Iraqi Oil Minister Basim Mohammed Khudair said at a press conference on Saturday, August 8, 2026 (17 Mordad 1405), according to Shafaq News, that Iraq is currently producing 2.7 million barrels of oil per day, with exports ranging between 1.5 and 1.7 million barrels daily. He said talks are underway with Iran to allow Iraqi oil exports to transit the Strait of Hormuz, though no agreement has yet been implemented. He added that current output cannot return to previous levels, but that exports could return to prior volumes once the war ends. Khudair also said memoranda of understanding and contracts had been signed with American companies following his recent visit to the United States, including two field development contracts and an annex to the Qurna-2 agreement. He said the oil agreement with Turkiye had been renewed with certain conditions. On the oil and gas file in the Kurdistan Region of Iraq, he confirmed the existence of a tripartite agreement between the federal government, the region and oil companies, which can be amended through negotiation.