Iraq Tells Oil Fields to Start Lifting Output After US-Iran Deal

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AI Summary

Following the US-Iran agreement, Iraq has instructed operators of five major oil fields to increase production to prewar levels, aiming for over 3 million barrels per day. This move is associated with reopening the strategic Strait of Hormuz, a critical oil transit route.

Iraq asked operators of five major oil fields to boost production to prewar levels, targeting output of over 3 million barrels a day, after US-Iran deal that aims to fully reopen the Strait of Hormuz.

Politics Markets Deals Commodities Energy Shipping Iraq oil production US-Iran deal Strait of Hormuz oil fields energy markets

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