Iraq says cut in crude oil production due to Strait of Hormuz closure

Record ID: 2361188

  • Title: Iraq says cut in crude oil production due to Strait of Hormuz closure
  • Date: 4th March 2026
  • Summary: BASRA, IRAQ (MARCH 3, 2026) (REUTERS) MEMBER OF THE OIL AND GAS COMMITTEE IN THE IRAQI PARLIAMENT, ALI SHADDAD DURING INTERVIEW   (SOUNDBITE) (Arabic) MEMBER OF THE OIL AND GAS COMMITTEE IN THE IRAQI PARLIAMENT, ALI SHADDAD, SAYING:     "Certainly, when export operations through the strait of Hormuz stop, Iraq will certainly be among the countries harmed, in marketing its
  • Embargoed:
  • Keywords: FIELD IRAN IRAQ ISRAEL OIL SAUDI UAE
  • Location: VARIOUS
  • City: VARIOUS
  • Country: Iraq
  • Topics: Conflicts/War/Peace,Middle East
  • Reuters ID: LVA002072104032026RP1
  • Aspect Ratio: 16:9
  • Story Text: Iraq has cut oil production by nearly 1.5 million barrels a day and those cuts could widen to more than 3 million bpd (barrels per day) within days as the country runs out of storage and cannot export crude due to the Iran crisis, two Iraqi oil officials told Reuters on Tuesday (March 3).
    As of Tuesday, Iraq has cut production from the Rumaila oil field by 700,000 bpd, from the West Qurna 2 field by 460,000 bpd and from the Maysan field by 325,000 bpd, the officials, who did not wish to be named, said.
    That output cut could grow to over 3 million bpd if oil tankers cannot move freely through the Strait of Hormuz and reach loading ports, said Ali Shaddad, member of Iraqi parliament oil and gas committee.
    The oil ministry said later in the day that the reduction in its crude oil production, owing to the halt in exports after the closure of the Strait of Hormuz, would not affect operations at its refineries, state media reported.
    Iraq’s refining capacity stands at around 1.1 million bpd, according to Iraqi energy officials and oil ministry data.
    Export disruptions from the Strait of Hormuz closure pushed storage to critical levels in Iraq's southern ports, the sources said.
    The U.S.-Israeli war with Iran has halted energy exports from the Middle East, with Tehran attacking ships and energy facilities, closing navigation in the Gulf and forcing production stoppages from Qatar to Iraq.
    (Production: Mohammed Aty, Essam Al-Sudani, Maher Nazeh)
  • Copyright Holder: REUTERS
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