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Iraq Hikes Oil Exports via Hormuz in Boon for Asian Refiners

OPEC’s second-largest producer, Iraq, more than doubled its crude oil exports via the Strait of Hormuz in August as it offered month-watering discounts for loadings at Basrah in the Persian Gulf and…

  • Iraq's oil exports via Hormuz doubled to 2.34 million barrels per day in August.
  • Discounts offered by Iraq for loading at Basrah and Iran's allowance enabled higher exports.
  • Increased exports benefit Asian refiners with Iraq's heavier, higher-sulfur crude.

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