Iraq has discovered a significant oil field in Najaf province, potentially containing over 8.8 billion barrels of crude oil, which could enhance its status as the fifth largest holder of proven oil reserves globally, while the country faces challenges in maintaining oil exports due to regional conflicts and disruptions in key shipping routes. #IraqOil #EnergySector #OilReserves #IQ #CN #SA #SY
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Iraq announces huge oil find near Saudi border as Hormuz crisis bites
Iraq has the fifth largest proven oil reserves in the world, estimated at 145 billion barrels, representing about 17% of total Middle Eastern reserves and around 9% of global reserves, according to the US Energy Information Administration (EIA).