According to Kordpress, the Oil Price news site reported that the Iraqi government has approved a plan to significantly increase the export of crude oil from the Kurdistan Regional Pipeline to Ceyhan Port in Turkey, following the continued closure of the Strait of Hormuz, and plans to triple the volume of this export in the next three months.

According to Oil Price, Baghdad will significantly increase oil exports through the Mediterranean port of Ceyhan, with the aim of compensating for the sharp decrease in oil exports from the southern route and dealing with the economic consequences caused by disruptions in the movement of oil tankers through the Strait of Hormuz.

According to this report, Iraq, which is the second largest oil producer in the Organization of Petroleum Exporting Countries (OPEC), is among the countries that have suffered the most damage from the practical closure of the Strait of Hormuz. The economy of this country is highly dependent on oil revenues, and about 90% of the government's budget revenues are provided by oil sales.

Oil Price wrote that the decrease in exports from Iraq's southern terminals in Basra has forced the country's government to reduce oil production. In this regard, the oil production of Iraq's southern fields has decreased by about 70% since the start of the war between America and Israel against Iran, and has reached about 1.3 million barrels per day from 4.3 million barrels per day.

The report adds that unlike Saudi Arabia and the United Arab Emirates, which have alternative routes to bypass the Strait of Hormuz, Iraq does not have an effective option to transport its oil without passing through this strategic waterway. Therefore, Baghdad has tried to restore the northern export route from the fields of Kirkuk to the port of Ceyhan in Türkiye.

According to the initial plan, Iraq planned to increase oil exports through this pipeline to 500,000 barrels per day, but now the new goal of the government is to increase the volume of exports to about 770,000 barrels per day in the next two and a half months.

The Strait of Hormuz is one of the most important energy bottlenecks in the world, and any disturbance in the movement of oil tankers through this route has a direct impact on the oil exports of Persian Gulf countries and global energy markets.