Iraq is taking measures to safeguard its oil exports amid ongoing tensions in the Strait of Hormuz. The State Organization for Marketing of Oil (SOMO) has instructed customers to submit crude lifting schedules within 24 hours to ensure the timely and efficient execution of export operations. SOMO also confirmed that all export facilities, including the Basrah Oil Terminal, are fully operational and ready to handle shipments, according to Reuters.

The move follows reports that Iran has exempted Iraq from transit restrictions through the Strait of Hormuz, potentially supporting a recovery in exports after output fell to around 800,000 barrels per day (bbl/d) last month. However, some shipowners remain cautious about entering the Gulf due to the ongoing conflict involving the United States, Israel, and Iran.

Shipping data shows early signs of resumed flows, with a tanker carrying about 1 million barrels  (mmbbl) of Basrah Heavy crude recently passing through the strait en route to Malaysia. The vessel is among several Malaysia-linked ships cleared by Iran after diplomatic talks.

Iran had effectively closed the strait, which carries about a fifth of global oil and LNG flows, following US and Israeli airstrikes earlier this year, but later eased restrictions to allow vessels without US or Israeli ties to pass, in some cases without fees. While some ships from countries including Oman, Japan, and France have crossed, the situation remains uncertain.