Iraq oil exports collapse to 10m barrels in April

Iraq exported 10 million barrels of oil via the Strait of Hormuz in April, down from about 93 million barrels monthly before the Iran war, the country's new Oil Minister, Basim Mohammed, said at a press conference on Saturday.

The closure of the Strait of Hormuz due to the Iran war has curtailed oil exports from Saudi Arabia, the UAE, Kuwait and Iraq, sending prices sharply higher.

"Exports through the Strait of Hormuz are low and depend on the arrival of oil tankers, which are not entering because of insurance," he said in his first press conference after taking office.