Iraq aims to restore oil output above 3 million bpd

Iraq normally exports a total of around 3.6 million barrels of oil per ​day and before the Iran war around 3.4 million bpd ​flowed through its southern Basra terminals.

Iraq, like other Gulf ⁠oil producers, has suffered a drop in oil revenue as a result of ​the efficiently closure of the Strait of Hormuz amid the US-Iran War.

Before ​the disruption caused by the war, Iraq mainly exported its fuel oil from the Gulf port of Khor al-Zubair, however the conflict has forced it to ​develop alternative routes after the strait was closed and storage ​facilities began filling up.

"There was no fixed timetable to restoring exports to previous levels ‌because ⁠production capacity and reservoir conditions vary from one field to another," Iraqi oil ministry spokesperson Saleem al-Rikabi said.

He said the ministry was currently prioritising fields producing associated gaseous, liquefied gaseous and condensates, adding ​that restoring export ​capacity and ⁠tanker activity would progress alongside production recovery.

Earlier, Iraqi oil officials told Reuters that Iraq has increased crude ​oil production from its southern fields by 250,000 barrels ​per ⁠day to around 1.75 million barrels per day as greater tankers load crude from the country's ports.

The officials said Iraq plans to raise ⁠production further ​to two million barrels per day ​in the coming few days.