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MidEast Crude Output Seen Dropping by 9 Million Barrels a Day

Apr 07, 2026 16:39 UTC

A view of the Lanaz Oil Refinery on March 17, 2026 in Erbil, Iraq. Recent drone attacks in the region have forced some oil refineries here to cease operation, while others continue.

  • A view of the Lanaz Oil Refinery on March 17, 2026 in Erbil, Iraq
  • Recent drone attacks in the region have forced some oil refineries here to cease operation, while others continue
  • More broadly, Iraq, a member of OPEC, has had to sharply reduce oil production as its main export route, through the Strait of Hormuz, has been block due to the war between Iran and the U

A view of the Lanaz Oil Refinery on March 17, 2026 in Erbil, Iraq. Recent drone attacks in the region have forced some oil refineries here to cease operation, while others continue. More broadly, Iraq, a member of OPEC, has had to sharply reduce oil production as its main export route, through the Strait of Hormuz, has been block due to the war between Iran and the U.S., Israel and their regional allies. On March 12, two oil tankers were attacked in Iraqi waters offshore from its main port of Basrah, allegedly by Iranian forces. Meanwhile, Baghdad and the government of semi-autonomous Iraqi Ku

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