Export disruptions through the Strait of Hormuz and rising storage levels have led to a sharp decline in Iraq’s oil production, officials said.
Output in southern fields dropped by about 80%, reaching nearly 800,000 barrels per day.
Basra Oil Company instructed a reduction in production at the Rumaila field due to storage pressure.
North Rumaila output was set at 350,000 barrels per day starting March 24, 2026.
