Iraq Struggles To Find Oil Export Options, but the UAE May Be Able To Help...

Iraq's oil exports have dropped to roughly half of the pre-closure level of 3.4 million barrels per day following Iran's closure of the Strait of Hormuz. The country depends on oil revenue for more than 90 percent of its national budget.

Iraq is exploring alternative export options, with the United Arab Emirates positioned as a potential partner to facilitate new routes.