Iraq projects oil production to return to pre-war levels within two months
Iraqi authorities predict oil production will return to peacetime levels “within one to two months,” state media reported, after the Middle East war caused exports to plummet.
The war and Iran’s ensuing blockade of the Strait of Hormuz choked off shipments and prompted production cuts in key oil-producing countries including Iraq, shaking world energy markets.
But a deal agreed this week between Washington and Tehran to end the fighting has offered some relief, despite follow-up negotiations having stalled.
The spokesman for Iraq’s oil ministry, Salim Farhoud, told the state-run Iraq News Agency (INA) on late June 19 that “we can return within one to two months to the previous production levels.”
