Iraq's Oil Production Drops 70% Due to Disruptions in the Strait of Hormuz

Iraq's oil production has decreased by about 70% to around 1.2 million barrels per day, due to disruptions in navigation in the Strait of Hormuz amid escalating military tensions in the region.

The Strait of Hormuz is one of the most important maritime passages for oil transportation in the world, through which a significant percentage of oil exports from Gulf countries pass, making any disruption in maritime navigation there directly impact global energy markets.

The decline in Iraqi production comes at a time when the region is experiencing widespread military escalation, which has affected oil export movements and shipments through Gulf ports, amid fears of continued disruptions in global energy supplies.