International oil export

Iraq Urges Oil Export Resumption Amid Iran Exemption

Analysis based on 7 articles · First reported Apr 06, 2026 · Last updated Apr 07, 2026

Sentiment

Attention

Articles

Market Impact

Direct

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Market Impact

The market is positively impacted by the potential resumption of Iraq's oil exports, which could increase global supply. However, concerns about geopolitical tensions involving the United States, Israel, and Iran in the Gulf region could still deter shipping and create uncertainty.

Oil and Gas Shipping

Event Summary

Iraq's state oil marketer, Iraq===State Organization for Marketing of Oil (SOMO), has urgently requested its customers to submit crude oil lifting schedules within 24 hours. This move follows reports that Iran has exempted Iraq from transit restrictions through the strategic Strait of Hormuz. The aim is to ensure the continuity and stability of Iraq's crude oil export operations and to help the nation boost its oil production, which had recently fallen to 800,000 barrels per day. Iraq===State Organization for Marketing of Oil (SOMO) has reaffirmed that all loading terminals, including the Al Başrah Oil Terminal, are fully operational. Despite these efforts, market participants express concerns that ongoing geopolitical tensions involving the United States and Israel against Iran could deter shipowners from entering the Gulf to lift oil.

Key Actions

100 Iraq===State Organization for Marketing of Oil requested customers to submit crude oil lifting schedules

80 Iran exempted Iraq from transit restrictions Iraq

70 Iraq aims to boost oil production

Entities Involved

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Iraq

Iraq's state oil marketer, SOMO, has requested customers to submit crude oil lifting schedules within 24 hours, aiming to ensure continuity and stability in crude oil export operations. This move is expected to help Iraq lift its oil production, which had previously collapsed to about 800,000 barrels per day.

Importance 100 Sentiment 30

govactor

Iraq===State Organization for Marketing of Oil

Iraq===State Organization for Marketing of Oil (SOMO) is the entity directly issuing the urgent request for crude oil lifting schedules. It is reaffirming the operational readiness of all loading terminals, including the Basrah Oil Terminal, to execute contractual lifting programs without limitation.

Importance 90 Sentiment 30

cnt

Iran

Iran has reportedly exempted Iraq from any restrictions on transit through the Strait of Hormuz, which is a key factor enabling Iraq's efforts to resume and stabilize its oil exports. However, ongoing geopolitical tensions involving Iran could still deter shipowners.

Importance 70 Sentiment 10

loc

Strait of Hormuz

The Strait of Hormuz is a strategic waterway through which Iraq's oil exports transit. Iran's reported exemption of Iraq from transit restrictions through this strait is crucial for the continuity of Iraq's crude oil export operations.

Importance 60 Sentiment 0

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United States

The ongoing conflict involving the United States and Israel against Iran is a geopolitical factor that could deter shipowners from allowing their tankers to enter the Gulf to lift oil, despite Iraq's efforts to resume exports.

Importance 30 Sentiment 0

cnt

Israel

The ongoing conflict involving Israel and the United States against Iran is a geopolitical factor that could deter shipowners from allowing their tankers to enter the Gulf to lift oil, despite Iraq's efforts to resume exports.

Importance 30 Sentiment 0

alliance

OPEC

Iraq is a member of the OPEC (OPEC). A resumption of oil exports will help Iraq, as an OPEC member, lift its production.

Importance 20 Sentiment 0

Relationships

Iraq related ↔ Iraq===State Organization for Marketing of Oil

Iraq related ↔ OPEC

Iraq related ↔ Iran

Iran related ↔ Iraq===State Organization for Marketing of Oil

NEWSDESK

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