Iraq reduces oil production by more than half due to storage facility saturation

LootboxPhobia · 2026-03-04T22:04:05+00:00

Due to depleted oil storage capacity and shipping attacks, Iraq's oil production has been reduced by more than half. The main oil field Rumaila has decreased by 700,000 barrels per day, West Qurna 2 by approximately 450,000 barrels per day, and Maysan oil field by 350,000 barrels per day. Additionally, crude oil production in the Kirkuk region has been suspended.

LootboxPhobia

2026-03-04 22:04:05

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Investing.com – Iraqi oil officials said on Wednesday that Iraq has cut oil production by more than half due to depleted storage capacity and oil tankers avoiding the Strait of Hormuz because of shipping attacks.

According to Iraqi oil officials, production at the country’s largest oil field, Rumaila, has decreased by 700,000 barrels per day. They stated that production at the West Qurna 2 oil field has fallen by about 450,000 barrels per day.

Officials added that the Maysan oil field’s output has also been reduced by approximately 350,000 barrels per day.

They said Iraq has suspended crude oil production in the northern Kirkuk region as a precaution.

The production cut comes as oil tankers avoid the Strait of Hormuz due to shipping attacks in the area, limiting Iraq’s ability to export crude oil.

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