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Iraq's Oil Heartland Grinds to Halt

Iraq's Oil Heartland Grinds to Halt

Irvine News Today | 2 Min News | The Daily News Now! · The Daily News Now!

April 2, 20261m 49s

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Show Notes

Iraqs oil heartland in Basra is on the brink as the war with Iran halts production, cutting exports by over 70% and blocking the Strait of Hormuz. Ports run at half capacity, forcing reroutes and jacking up costs. Attacks on oil sites and U.S. bases scare off foreign workers. Iraqs economy is crumbling, with cash reserves expected to last until mid-May. Fields like Zubair cut output to prioritize local needs. Iran claims oil can pass safely, but tanker owners wont risk it without their own fleet. Southern Iraq waits in limbo for the strait to reopen or attacks to ease.

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