Iraq, Syria Revive Oil Pipeline Shut Since 2003 in Bid to Bypass Strait of Hormuz After Iran War Disrupts Exports
Iraq and Syria agreed to revive a long-shuttered oil pipeline to reduce Baghdad's reliance on the Strait of Hormuz after the Iran conflict.
Why It Matters
Iraq and Syria are fixing an old pipeline to move oil a different way, so they don't have to worry as much if trouble happens near a busy shipping route. This shows countries are trying to protect their oil business from disruptions.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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