Shafaq News- Baghdad
Iraq lost an estimated 302.8 million barrels of oilproduction during the first half of 2026 as the US-Iran war disruptedextraction and exports through the Strait of Hormuz, according to the Eco IraqObservatory.
The watchdog placed total production at about 440.3million barrels between January and June. Daily volumes remained above 4.1million barrels during the first two months of the year before the conflictsharply reduced operations, with output falling to 1.906 million barrels perday in March, 1.633 million in April, and a low of 1.406 million in May. Thefigure edged up to 1.525 million barrels per day in June.
: Iraq’s oil bottleneck: Abundance trapped by dependency
Iraq, OPEC’s second-largest producer, relies on crudesales for about 90% of state revenue, leaving its economy highly vulnerable todisruptions in the Strait of Hormuz, which carries roughly one-fifth of globaloil supplies. In late March, economic expert Nabil Al-Marsoumi estimated thatthe country had cut output by around 2.9 million barrels per day, the steepestreduction among OPEC members.
: No exit but Hormuz: Iraq's economic vulnerability exposed
The United States and Iran exchanged fire for aneighth consecutive night, with Washington striking Iranian militaryinfrastructure and Tehran claiming retaliatory drone operations against USinstallations in Kuwait.
Iran’s Islamic Revolutionary Guard Corps (IRGC) onSunday reported intercepting two vessels in the Strait of Hormuz, while twoothers allegedly reversed course after receiving warnings. It accused all fourships of disabling their navigation systems and attempting to cross through “anunsafe route” with US backing.
Oil, gas, and chemical fertilizer cargoes would not bepermitted to pass without Iranian authorization, the IRGC warned, maintainingthat it controls the waterway and that vessels using unapproved routes couldface “inevitable incidents.”