Iraq has reached understandings with US to allow oil exports through Hormuz, minister says

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Iraq has reached an understanding with the United States to enable oil exports through the Strait of Hormuz using a shipping lane near Oman, Foreign Minister Fuad Hussein said. Iraq’s losses from the Iran war and export disruptions have reached $60 billion, while exports recovered to about 3.5 million barrels per day in October.

Nov 8 (Reuters) - Iraq has reached understandings with the United States to allow Iraqi oil exports through the Strait of Hormuz via a shipping lane near Oman, Foreign Minister Fuad Hussein said in an interview with Al Jazeera. He said Iraq's losses from the Iran war and disruptions to oil exports had reached $60 billion. Iraq's oil exports recovered in October after a sharp drop the previous month. Exports rose to about 3.5 million barrels per day from 2.65 million bpd in September, according to Iraqi energy officials.