Live Updates > Live Update Details
2026-04-07 15:58:51
[Oil Company Head: Iraqi Crude Oil Exports Could Recover to Pre-War Levels Within a Week if Shipping Channels Remain Open] The Iraqi state-owned Basra Oil Company recently stated that if the conflict with Iran ends and the Strait of Hormuz is unblocked, Iraqi crude oil exports could essentially recover to pre-war levels within a week. Foreign media reported on the 6th, citing Basra Oil Company head Bassem Abdul Karim, that current production in southern Iraqi oil fields is approximately 900,000 barrels per day. Specifically, the Rumaila oil field in Basra province has seen its daily production drop from approximately 1.35 million barrels before the war to approximately 400,000 barrels, while the Zubair oil field in the same province has fallen from 640,000 barrels to 300,000 barrels. Production in the Kirkuk oil field in the north is approximately 380,000 barrels per day. About 90% of Iraq's fiscal revenue comes from crude oil exports, with the main oil-producing areas in the south. Before the US and Israel launched their military strikes against Iran on February 28, Iraqi oil fields produced approximately 4.3 million barrels of crude oil per day; daily exports were approximately 3.5 million barrels, mainly transported through the Strait of Hormuz. (Xinhua)
