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The Iraqi state news agency is reporting that Kirkuk has resumed pumping oil via Turkey’s Ceyhan port at a rate of 250,000 barrels.
That would only be a fraction of the country’s normal output. Before the Iranian war began, Iraq was producing 4.5 million barrels of crude oil per day. But it was forced to slash output once tankers couldn’t travel safely through the strait of Hormuz.
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The conflict in the Middle East continues to grip the markets, as ship traffic through the strait of Hormuz continues to be slowed by the crisis.
