Iraq Oil Output Falls 80% as Hormuz Disruptions Hit Exports

Sources in Iraq’s energy sector revealed a significant decline in oil production due to export disruptions through the Strait of Hormuz and full storage capacity.

Production from southern fields dropped by up to 80%, reaching approximately 800,000 barrels per day.

Basra Oil Company issued instructions to reduce output at the Rumaila field after storage reached critical levels.

North Rumaila production was set at 350,000 barrels per day starting March 24, 2026.