Iraq projects oil output to reach pre-war levels in two months

Iraq's oil production is projected to rebound to pre-war levels within the next one to two months, state media reported, signaling a recovery after recent conflict severely disrupted exports. The Middle East war and Iran's subsequent blockade of the critical Strait of Hormuz choked off shipments, leading to production cuts in major oil-producing nations, including Iraq, and destabilizing global energy markets.

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we can return within one to two months to the previous production levels

A recent deal between Washington and Tehran to end the hostilities has provided some relief, although follow-up negotiations have encountered delays. The spokesman for Iraq's oil ministry, Salim Farhoud, informed the state-run Iraq News Agency (INA) that production capacity is already being restored in fields that had previously scaled back operations.

Before the conflict erupted in late February, Iraq was exporting approximately 3.5 million barrels of oil per day, with the majority passing through the Strait of Hormuz. However, the nation was compelled to halt production in most of its oil fields as storage capacity was reached. Exports were subsequently limited to routes through neighboring Türkiye and Syria.

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The fields that reduced their production capacity have currently begun raising this capacity

The Strait of Hormuz has begun to reopen this week following the initial agreement between Iran and the United States. Iraqi Oil Minister Bassem Khodeir stated that exports will gradually resume in line with the smooth flow through the vital waterway. Iraq heavily relies on crude exports, which typically constitute about 90 percent of its national revenue.

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will return gradually based on the smooth flow through the Strait of Hormuz