Hormuz chokes Iraq: Oil exports below 800,000 barrels per day
Hormuz chokes Iraq: Oil exports below 800,000 barrels per day
2026-03-09 02:17
Shafaq News – Baghdad
Iraqi oil production has fallen sharply from 4.3 million barrels per day to 1.3 million barrels per day as a result of the disruption to shipping through the Strait of Hormuz.
This decline reduced Iraqi exports to less than 800,000 barrels per day, which had a direct impact on refineries and petrochemical companies in Asia, especially in China.
Some major Chinese refineries have also reduced the operation of their units or halted some production lines due to the shortage of Iraqi crude, while companies have looked for alternative sources from Africa and Latin America to compensate for the disruption.
Shipping and insurance costs have also increased as a result of security risks in the Strait of Hormuz, which has been reflected in petrochemical product prices in Asia.
Iraq is a crucial element in the energy security of China and Asia, as any disruption to its production and exports directly affects the operation of refineries and the industrial economy in the region.
shafaq.com
