According to CoinMeta, the closure of the Strait of Hormuz has led to a 75% decline in Iraq's oil exports. On the 8th local time, Iraqi Oil Minister Basim Mohammed Al-Hudayr stated that Iraq is in negotiations with Iran regarding the permission for its oil exports, but the relevant coordination has not yet taken effect. Before the outbreak of conflicts between the United States, Israel, and Iraq, Iraq exported approximately 3.4 million barrels of oil per day through the Strait of Hormuz; however, exports through this strait have decreased since the conflict began. Hudayr emphasized that Iraq needs to find solutions to diversify its oil export channels.