Oil tankers in a busy, narrow maritime passage, Strait of Hormuz
Iraq’s oil marketing company, SOMO, has confirmed that Abu Dhabi National Oil Company (Adnoc) is among the entities purchasing Iraqi crude oil and facilitating its transit through the vital Strait of Hormuz. Adnoc’s trading arm is actively marketing Iraqi oil to buyers in Asia.
This development underscores the strategic importance of the Strait of Hormuz for Iraq’s oil exports, with shipments through the waterway now averaging approximately 2 million barrels per day. The increased volume highlights the continued reliance of Iraq’s trade with Asian markets on this critical chokepoint.
The direct involvement of Adnoc in purchasing and marketing Iraqi crude signifies a notable cross-border energy trade relationship within the region, emphasizing the interconnectedness of oil markets in the Middle East and their dependence on key maritime routes.
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