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Market Chatter: Iraq Moves to Secure Tankers as It Steps Up Crude Export Efforts

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Iraq is seeking multiple tankers to move crude through the Strait of Hormuz as Baghdad seeks export options, Reuters reported Friday, citing a government spokesman.

The government has begun the tanker-hiring process through the state-run Iraqi Oil Tankers Company following cabinet approval, the report said. It did not identify the companies involved.

Iraq could use the vessels to collect crude in the Gulf of Oman, where regional producers increasingly sell barrels for pickup, the report said. Iraq's Ministry of Oil and Iraqi Oil Tankers Company did not immediately reply to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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