Iraq restarts oil output in Basra
The Iraqi Ministry of Oil resumed oil production today, Saturday, at five major fields in Basra Province, after operations had been halted due to the repercussions of the American-Iranian war and the closure of the Strait of Hormuz. Production rates had dropped to 1.5 million barrels per day from an original 4.3 million barrels, and a full recovery of capacity is expected as operations gradually resume.
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