US-backed Hormuz oil flow tops 660 million barrels as Iran lets Iraqi tankers pass
Why it matters: Traffic remains well below prewar levels, but the new Iraqi carveout could ease pressure on one of the countries hit hardest by the strait's disruption.
The U.S. military has helped more than 1,300 commercial vessels move over 660 million barrels of crude through the Strait of Hormuz since early May, according to Central Command, as Iran separately allowed a number of Iraqi oil tankers to pass after requests from Baghdad. The figures suggest oil shipments are recovering from wartime lows, though still far below the roughly 20 million barrels a day that moved through the strait before the conflict. Estimates of current flows vary widely, from about 5 million barrels a day in July by Windward to roughly 10 million barrels a day in recent weeks cited by U.S. officials. Iraq, one of the countries hardest hit by the disruption, is also pursuing export routes through Turkey, Syria and Jordan.
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- 14 hours agoUS helped move 660 million barrels through Hormuz since May
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