May 2, 2026
Iraq’s Economy Reels as Hormuz Blockade Chokes Oil Revenues

Iraq is seeing the worst of the Middle East crisis as its heavily oil-dependent economy is now collapsing with the trickling oil revenues amid the blockage of the Strait of Hormuz.  Iraq, OPEC’s second-biggest oil producer behind Saudi Arabia, has done very little in recent decades to diversify its heavy dependence on oil…
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