With less than two million barrels per day, Iraq was the first country to be affected by the war in terms of oil production.
With less than two million barrels per day, Iraq was the first country to be affected by the war in terms of oil production.
2026-03-08 06:08
Shafaq News – Baghdad
Bloomberg reported on Sunday that Iraq’s oil production has fallen by about 60% as the Iran-related war continues, disrupting oil tanker traffic and hindering exports through the Strait of Hormuz.
The agency quoted informed sources as saying that Iraq is currently producing between 1.7 and 1.8 million barrels per day, compared to about 4.3 million barrels per day before the outbreak of the conflict.
According to the report, the decline reflects an increasing logistical bottleneck in the Arabian Gulf, where the war has reduced the number of tankers capable of loading crude oil, prompting producers to cut production as storage facilities fill up.
Bloomberg noted that Iraq was the first major Gulf producer to reduce its oil production due to the conflict, followed later by the United Arab Emirates and Kuwait, which also reduced their production as the unrest in the region widened.
She added that the conflict has effectively disrupted shipping through the Strait of Hormuz, one of the world’s most important maritime energy routes, through which about one-fifth of global oil exports pass, making any prolonged disruption a major threat to global energy supplies.
With limited tanker access and restricted export routes, Gulf producing countries have begun pumping oil into storage facilities, but available storage capacity is rapidly decreasing, according to the report.
shafaq.com
