Iraqi authorities halt production at the southern Rumaila oil field due to rising stockpiles
The Iraqi Ministry of Oil and the Basra Oil Company decided on Tuesday to reduce production and pumping at the southern Rumaila field by 100 percent due to international political developments and the closure of the Strait of Hormuz. The company's operations authority stated in a statement that as a result of international political events and the subsequent closure of the Strait of Hormuz, disruption of international navigation, and the reluctance of oil tankers to enter the Gulf basin, along with the unavailability of tankers at southern ports and the suspension of loading at some storage facilities, it was decided to reduce production and pumping by 100 percent from the southern Rumaila field starting Tuesday evening. It also noted that all these factors have led to an increase in oil stockpiles in the storage facilities.
al24news.dz
