Iraq, one of the world's largest oil producers, is grappling with a domestic petrol shortage as ongoing conflict in the Middle East disrupts the supply of imported fuel derivatives its refineries cannot produce in sufficient quantities. Long queues have formed at petrol stations in Baghdad, with residents waiting hours without success, even as Iraq pumps millions of barrels of crude oil per day. The disruption centres on the Strait of Hormuz (the narrow waterway connecting the Persian Gulf to global shipping lanes), which has been choked off by the US-Iran conflict, hampering both Iraq's fuel imports and its oil exports, which account for roughly 90 percent of the country's budget revenues.