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Iraq announces huge oil find near Saudi border as Hormuz crisis bites

Euronews · May 8, 2026, 11:38 AM · Also reported by 4 other sources

Why this matters: an international story with cross-border implications worth tracking.

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).

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Iraq announces huge oil find near Saudi border as Hormuz crisis bites

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