Iran Allows Iraqi Oil Tankers to Cross Strait of Hormuz Following Joint Understandings

mniraq - Diplomatic efforts and ongoing understandings between Baghdad and Tehran have resulted in Iranian authorities granting permission for a number of Iraqi oil tankers to transit the Strait of Hormuz. This step comes in response to official requests made by Iraq through various diplomatic channels, aligning with strategic government plans aimed at raising Iraq's oil production capacity to between 8 and 10 million barrels per day over the next six years. Concurrently, government authorities are discussing an increase in Iraq's production quota within OPEC, in addition to exploring the activation of new export routes through neighboring countries to boost the nation's economic revenues.