Iraq Slashes Oil Output by a Third Amidst West Asia Conflict
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Iraq Slashes Oil Output to One-Third Amid West Asia Conflict, Faces Financial Strain
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News18•12-03-2026, 22:56
Iraq Slashes Oil Output to One-Third Amid West Asia Conflict, Faces Financial Strain
•Iraq's crude oil production has plummeted to 1.4 million barrels per day, a significant drop from its usual 4 million barrels.
•The reduction is due to ongoing conflict in the Persian Gulf disrupting key export routes, particularly through the Strait of Hormuz.
•Only 200,000 barrels per day are currently transported by trucks through Turkey, Syria, and Jordan, far below usual volumes.
•Production from southern oilfields, normally exported via Gulf coast terminals, has fallen by about 70 percent.
•The drastic cut causes severe financial pressure as oil exports fund over 90% of Iraq's state revenue; Baghdad seeks alternatives like increasing Kirkuk fields output.
