Iraq Cuts Oil Production Amid Strait of Hormuz Closure and Export Disruptions

Iraq has significantly reduced oil production, cutting nearly 1.5 million barrels per day at major fields like Rumaila and West Qurna 2 due to storage capacity reaching critical levels amid export disruptions caused by the closure of the Strait of Hormuz. Officials warn that cuts could exceed 3 million barrels per day if tanker movements remain restricted. The closure follows escalating conflict involving Iran, impacting regional energy exports and prompting precautionary production halts in northern Kurdistan.