Oil company executives: If shipping lanes are unobstructed, Iraq's crude oil exports can return to pre-war levels within "one week"

Iraq’s state-owned Basra Oil Company recently stated that if the conflict in Iran ends and the Strait of Hormuz shipping lanes are open, Iraq’s crude oil exports could essentially return to pre-conflict levels within a week. Reuters on the 6th quoted Basra Oil Company’s head, Basem Abdul Karim, as saying that currently, the production from Iraq’s southern oil fields is about 900k barrels per day, with the Rumaila oil field in Basra province dropping from about 1.35 million barrels per day before the conflict to about 400k barrels, and the Zubair oil field in the same province falling from 640k barrels to 300k barrels; the northern Kirkuk oil field produces about 380k barrels per day. Iraq’s fiscal revenue is about 90% from crude oil exports, mainly from the southern oil-producing regions. Before the U.S. and Israel launched military strikes against Iran on February 28, Iraq’s oil fields produced about 4.3 million barrels of crude oil daily; daily crude oil exports were about 3.5 million barrels, mainly shipped through the Strait of Hormuz. (Xinhua)