Iraq restarts key oil fields including West Qurna 1 and Majnoon oil field

Baghdad (IraqiNews.com) – After months of regional conflict and challenges related to the Strait of Hormuz, Iraq has started to gradually resume oil production; however, output is still significantly below pre-war levels as Baghdad prioritizes domestic energy security ahead of summer. According to Wood Mackenzie’s High Frequency Oil Production Monitor, Iraq’s output has rebounded to 1.5 million to 1.6 million barrels per day as important southern fields such as West Qurna 1, Majnoon oil field, and Fauqi progressively restart operations. Iraq’s immediate emphasis has moved to ensuring related gas supplies, refinery feedstock, and liquefied petroleum gas (LPG) in order to prevent catastrophic power shortages over the summer, in contrast to Gulf producers who prioritize exports. The rebound follows significant disruptions to Gulf energy flows and a decrease in exports across the Strait of Hormuz, a vital route for Iraqi petroleum supplies, caused by the regional conflict between Iran, Israel, and the United States. Due to its heavy reliance on oil earnings, Iraq’s economy was particularly vulnerable to the marine interruptions, which forced Baghdad to expedite overland links to neighboring nations and alternate export routes via Turkey. The post Iraq restarts key oil fields including West Qurna 1 and Majnoon oil field appeared first on Iraqi News.