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Updated · Reuters · May 2Iraq says oil output and exports can recover within seven days
9 articles · Updated · Reuters · May 2
- Deputy Oil Minister Basim Mohammed said production is 1.5 million barrels a day, with about 200,000 bpd exported via Ceyhan.
- He said two tankers are ready and two more could follow, depending on security in the Strait of Hormuz.
- Tehran has largely closed the strait during the US-Israeli war against Iran, disrupting Iraq's oil flows until the crisis ends.
Iraq promises a 7-day oil recovery, but experts warn of a 9-month delay. What is the real timeline for market relief? As the Hormuz crisis chokes global trade, could a new food security crisis and global recession be the ultimate price?