Kurdistan Oil Production Normalizes Amid Ongoing Gasoline Crisis
Kurdistan's oil production has normalized to between 200,000 and 220,000 barrels per day after months of conflict, according to the KRG Acting Minister of Natural Resources.
The region's oil output plummeted in February following a US-Iran military campaign, and subsequent drone and missile attacks on oil fields led to production cuts. However, international firms have resumed operations at some fields, including the Sheikhan and Sarsang fields, which had experienced declines of over 50%.
The minister noted that while 90% of Iraq's oil exports are shipped through the Strait of Hormuz, which has been closed due to tensions in the region, the KRG retains 50,000 barrels per day for domestic consumption. However, Erbil has expressed reservations about handing over this allocation to Baghdad.