ERBIL, Kurdistan Region of Iraq - Iraq's newly appointed Oil Minister Basim Mohammed Khudair on Saturday said that the country exported 10 million barrels of oil via the Strait of Hormuz in April, coming as restrictions on the strategic waterway as a result of the US-Israeli war on Iran have hampered global energy supply.

Having assumed the ministerial portfolio after being approved by the Iraqi parliament on Thursday, Khudair commenced his duties on Saturday, warning in a press conference that the war's economic spillover has crippled the southern export route.

"Iraq used to export 93 million barrels per month through the Strait of Hormuz, but in April we exported only 10 million barrels due to the war," he said.

He added that that approximately 200,000 barrels per day from Kirkuk oil fields are being exported through Turkey after Baghdad and Erbil reached an agreement allowing the Kurdistan Region's pipelines to be used to export Iraqi oil to Turkey's Ceyhan port, adding that "we have a plan to increase it to 500,000 barrels."

Iraqi oil exports plummeted by over 80 percent after the closure of the strait, going from nearly 100 million barrels in February down to 18.6 million barrels in March at the height of the conflict.

Oil revenues in March were just shy of $2 billion, compared to the $6 billion brought in just a month earlier, according to data from the oil ministry, with the US-Israeli campaign having been launched on February 28.

Iran began restricting the flow of commercial vessels in response to the attacks, driving up global fuel prices and leaving US President Donald Trump, as well as exasparated European leaders, eager to resume normal export flows.

Following the reaching of a ceasefire in early April, the US military imposed a rival blockade on vessels attempting to reach Iranian ports.

"Iraq possesses all the necessary elements to achieve leadership in the energy sector, given its vast oil reserves," Khudair said during the press conference. "The government is striving to transform all provinces into oil-producing regions to improve their economic situation."

While still serving in his previous role as oil ministry undersecretary, Khudair on Tuesday told Iraq’s state-owned al-Sabah newspaper that the country can resume oil production at a higher capacity and pump three million barrels per day within one week should the Strait of Hormuz be reopened for passage.