Iraq Reduced Oil Production Almost Fourfold
Oil is being used only for domestic needs
Oil production in Iraq has decreased due to the closure of the Strait of Hormuz from 4.3 million barrels per day to 1.2 million barrels per day (down by 3.1 million barrels per day). This was reported by Bloomberg, citing the spokesperson of the Ministry of Oil, Sahib Al-Hasnawi.
Earlier, agency sources said that production had fallen by 2.9 million barrels per day.
According to Al-Hasnawi, all produced oil will be supplied to local refineries for domestic consumption. At the same time, Iraq is looking for export opportunities, including deliveries by tanker trucks to the Jordanian port of Aqaba.
Al-Hasnawi stated that the reduction in oil production has led to a decrease in associated gas output, which is partly used for electricity generation. The government is supplying power producers with diesel fuel to compensate for this shortage. According to the minister, there is no shortage of liquefied petroleum gas for cooking.
