Iraq has announced a reduction in its crude oil production, after Iran’s closure of the Strait of Hormuz that suspended Iraqi oil exports. Iraq has cut production from the Rumaila oil field (1.4 mb/d output) by 700 kb/d, from the West Qurna 2 field by 460 kb/d, and from the Maysan field by 325 kb/d, according to Iraqi officials (Reuters, 04/03/2026). The Iraqi oil ministry stated that the reduction in crude oil production would not affect operations at its refineries, according to state media.
The decision followed disruptions to export operations linked to continued military activity in the region and the Strait of Hormuz closure, which led to rising storage levels within fields and tanks reaching capacity. The Strait of Hormuz remained closed for a fourth day after Iran attacked five ships, blocking a key route that carries about 20% of global oil and LNG supplies.
The US-Israeli war with Iran has halted energy exports from the Middle East, with Iran attacking ships and energy infrastructure, forcing production shutdowns from Qatar to Iraq.
Iraq is OPEC’s second-largest producer, with an output of 2.8 mb/d in 2024, according to our data (Enerdata Global Energy Research)