Oil tanker tracking data now shows positive signals: multiple ships crossing the Strait of Hormuz, Iraqi crude oil exports rebounding.

According to the Securities Times APP, Iraq is speeding up the loading of crude oil at its main ports and increasing the export of crude oil from the Persian Gulf. This latest move indicates that major OPEC oil-producing countries in the Gulf region are trying to transport more crude oil through the strategic chokepoint Strait of Hormuz. Oil tanker tracking data compiled by Bloomberg shows that, so far this month, the total amount of Iraqi oil shipped out from or loaded at the southern port of Basra in Iraq through the Strait of Hormuz is approximately 7 million barrels. This number is consistent with the total amount of crude oil loaded and transported in April and May. At the end of last month, several oil tankers that were previously stranded and loaded with Iraqi crude oil began to leave the ports.