Iraq cuts oil output as Hormuz disruption stops exports
Iraq declared force majeure on foreign oilfields as Hormuz disruptions halt exports. Output fell to 900,000 barrels per day as storage limits were reached.
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Iraq has declared force majeure on all oilfields operated by foreign energy firms, citing a near-total halt in crude exports due to military disruptions in the Strait of Hormuz. The move comes as the oil ministry warns that storage capacity has reached its limits, with navigation through the vital maritime chokepoint severely restricted by regional hostilities.
