CleonTheFirst

#IraqOilExportsFall75% Iraq's Oil Minister officially confirmed that Iraqi oil exports fell by 75% due to the closure of the Strait of Hormuz. · Before the crisis, Iraq exported about 3.4 million barrels per day through this route. After the closure, flows dropped dramatically. 🔍 Context · Alternative routes: Baghdad has turned to overland pipelines (e.g., Kirkuk–Ceyhan), but these cannot compensate for the lost volumes. · Negotiations: Talks with Iran to resolve export issues are ongoing, but no practical breakthrough has been achieved yet. · Economic impact: Oil accounts for roughly 90% of Iraq's state revenue, so this drop represents a major financial crisis. --- 📌 On Binance & Crypto Markets Discussions on platforms like Binance focus on how this supply shock could impact global energy prices and crypto market volatility (since oil price moves often correlate with risk-on/risk-off sentiment). However, the core news itself is official and confirmed by Iraqi government sources. -