Iraq Prepares to Ramp Up Production After War Disruption

Iraq could restore oil production and exports within a week after the Strait of Hormuz reopens, an official from state-owned Basra Oil Company has said, as quoted by Reuters. “We have not received any formal documents regarding permission for Iraqi tankers to pass,” Bassem Abdul Kassim told the publication in an interview, adding that Iraq had only received verbal guarantees for safe passage for tankers from the Iranian side. He went on to report that oil production from Iraq’s fields in the south had fallen to 900,000 barrels…