Iraq lost over $40 bn in revenue during war: govt official

BAGHDAD: A government official said on Wednesday that Iraq had lost more than $40 billion in revenue since the start of the Middle East war, mostly due to a sharp decline in its oil exports. The conflict and Iran’s blockade of the Strait of Hormuz choked off shipments and prompted production cuts in key oil-producing countries including Iraq, shaking world energy markets. Before the war, which began with US-Israeli strikes on Iran in late February, Iraq produced around four million barrels per day, and exported an average of 3.5 million bpd, mostly via Hormuz.

Raccontata daarabnews.comhurriyetdailynews.com