Iraq’s oil marketing company confirmed the UAE’s assistance for this country’s oil exports. The body responsible for Iraq’s oil exports says Abu Dhabi National Oil Company is one of the companies that has purchased Iraqi oil and successfully moves the cargoes through the Strait of Hormuz.

Bloomberg News writes that under this mechanism, smaller crude oil vessels from Basra are transported through the Strait of Hormuz and then the cargo is handed over to larger tankers to be delivered to Asian markets.

Iraqi officials recently announced that this month’s daily oil exports from the country have increased to two million barrels, and OPEC had also reported a daily production increase of 665,000 barrels of Iraq’s oil last month.

According to reports, due to interference by the Islamic Republic of Iran in the Strait of Hormuz, Iraq has been forced to offer buyers a 35% discount for the transit of each barrel of its oil through this waterway.