Iraq says oil exports can recover quickly if Hormuz reopens

The state-run Basra Oil Company has indicated that Iraq could restore its crude oil exports to approximately 3.4 million barrels per day within a single week, provided the conflict in Iran concludes and the Strait of Hormuz is reopened. As the second-largest producer in the Organization of the Petroleum Exporting Countries, the nation has experienced the most significant revenue decline among Gulf producers due to the lack of alternative export routes for Brent Crude Oil and West Texas Oil.