Shafaq News..Hormuz shutdown could slash Iraq's oil revenues 80%

A renewed shutdown in the Strait of Hormuz could cut Iraq’s oil revenues by up to 80%, threatening public salaries, services and the dinar, according to Mohammed Al-Najjar, an adviser for development and investment. He told Shafaq News that a prolonged Iran-related conflict could keep crude prices above $100 per barrel, potentially reaching $130, driving up fuel, food and travel costs while leaving Iraq unable to benefit if exports, trade and investment stay disrupted. If a settlement is reached, oil could fall to about $74 per barrel and support global growth recovery in 2027. Al-Najjar warned, however, that Iraq would still need roughly $86 per barrel to balance its budget.