Export restrictions cause Iraqi southern oil field production to plummet by 80%

MetaMuskRat · 2026-03-27T06:52:03+00:00

Due to the Strait of Hormuz blockade, Iraq is unable to export crude oil, leading to an 80% drop in production at its major southern oil fields, down to approximately 800,000 barrels per day, severely impacting its energy supply.

MetaMuskRat

2026-03-27 06:52:03

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People’s Financial News, March 26 - An official from Iraq’s energy sector stated on the 25th that due to the de facto blockade of the Strait of Hormuz, Iraq is unable to export crude oil through this strait. With storage space becoming critical, the country has been forced to cut oil production, with output from its major oil fields in the south plummeting by 80%. According to a report by Reuters citing three officials from Iraq’s energy sector, production from the major oil fields in southern Iraq has decreased by approximately 80%, dropping to around 800,000 barrels per day. Before the United States and Israel launched strikes against Iran, these oil fields were producing around 4.3 million barrels per day. Earlier this month, industry insiders revealed that production from these oil fields had already fallen by about 70%, to around 1.3 million barrels per day. (Xinhua)

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