Iraq’s oil marketing company SOMO says Abu Dhabi’s Adnoc is one of the companies buying Iraqi crude and moving shipments through the Strait of Hormuz. Adnoc’s trading arm is also offering Iraqi oil to Asian buyers, while Iraq’s crude exports through Hormuz have risen to around 2 million barrels per day. The increase underscores how heavily Iraq’s oil trade with Asian markets depends on the strategically important waterway.
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