Al Jazeera: Iraq cuts oil output by 70% amid regional escalation

Iraq has reduced its oil production by approximately 70% since the start of the US and Israeli military operation against Iran, sources familiar with the matter told Al Jazeera. 

Iraq has also halted production at six oil fields in the southern Basra region, the country’s main oil-producing hub. Basra accounts for the bulk of Iraq’s crude exports, making any disruption there significant for global energy markets.

Iraqi authorities have not yet issued an official statement confirming or denying the reported production cuts.