Iraq Runs Short of Fuel

BaghdadIraq, one of the world’s largest oil producers, imported nearly a fifth of its 2025 gasoline.

Oil is 90% of Iraq’s public revenue, and the Hormuz closure blocks over 90% of its crude exports.

Aging refineries make too much heavy fuel oil and naphtha, so Iraq imports gasoline, and stations ran dry in early September.

“Iraqis are buying only the bare minimum now, and we are paying the price,” said Mohammed S., a Sadr City tailor.

Polymarket traders give a US-Iran Hormuz agreement by 2 November a 7% chance.

Sources: New Lines Magazine