Kurdistan Region Oil Exports Plummet to 20,000 BPD Amid Regional Crisis

Regional instability and the closure of the Strait of Hormuz have severely impacted oil production in Iraq's Kurdistan Region, reducing daily exports to just 20,000 barrels. According to a senior SOMO source, attacks on oil fields and escalating regional tensions have led to a significant decrease in production, dropping from 230,000 barrels per day to its current low.

The closure of the Strait has had a direct impact on oil production and export levels in both Iraq and the Kurdistan Region. The agreement allowing crude exports through the pipeline linking the Kurdistan Region and Kirkuk to Türkiye's Ceyhan port remains in effect, but export volumes have declined significantly due to the regional crisis.

Iraq exported a total of 42 million barrels of crude oil during July, with 7 million barrels shipped through the Kurdistan Region pipeline to the Turkish port of Ceyhan. The country's average daily oil production reached 1.95 million barrels during the same period, but the ongoing crisis has reduced Iraq's pipeline exports to just 60,000 barrels per day.