Flexible Marketing Strategies Enable Iraq to Overcome the Hormuz Strait Oil Crisis

rafidainscope - Economic expert Nabil Al-Marsoumi stated on Wednesday, September 2, 2026, that maintaining Iraq's oil exports at 2.340 million barrels per day reflects the success of the State Organization for Marketing of Oil (SOMO) in handling the repercussions of the Strait of Hormuz closure. Al-Marsoumi noted that this figure represents approximately 71% of the pre-crisis export volume, demonstrating the company's efficiency in adapting to regional challenges by adopting flexible pricing policies and attractive discounts. He praised the new shipping mechanisms, which involve using smaller oil tankers to transport and resell crude outside the strait, a move that has helped maintain cash flows and bolster the state's sovereign revenues.