Iraq says it could restore oil exports to pre-war levels within a week if Hormuz reopens

Oh, they know that. But when you lose so much money, you need to start making some bogus promises.

Yeah, according to “What’s going on with shipping” on YT there are tankers that left before the invasion that still haven’t reached their destinations yet. The impact hasn’t even *started* to be felt by those markets yet and it will be months before everything catches up even if the Strait fully reopened today. Also you have strike damage to production capacity that will continue to throttle throughput out of the region for an extended period of time even *if* shipping were to resume unhindered. The damage is already done and it hasn’t fully hit us yet.

His deadline of 8pm Eastern tomorrow .. watch this TACO

You’ll be raped at the pump even if it opened tomorrow. You think they’re going to fix the oil refineries and storage facilities for free? This will last a lot longer even if it opens today.

A further bottleneck is sea mines in the shipping lane. Clearing them could take weeks once the minesweepers show up, and ours are in Malaysia ATM. So Iran or oman could theoretically let ships through their territorial waters, but there's less throughput than the shipping lane

That's actually faster than I thought lol, I thought walking speed was faster than a barge

Yep the last tankers to leave before the Strait was closed pretty much just delivered their oil to refineries across the world last week. Thats how slow they are. Plus there are like 3k ships trapped in the Gulf rn and have been for a month. They’ll all need some level of resupply and loading before leaving, that’ll be a logistical clusterfuck. Looking at at least another 2 months before you could say supply would logistically get back to where it was before the attacks

Amen! I just watched perhaps the same YouTube Short talking about the underlying silent storm that people have largely forgotten - all the oil shortages that will start hitting countries because the slow moving tankers that were in transit will reach and the shockwave of Hormuz closure will then hit everyone. Even opening the Strait tomorrow will still leave a gap in deliveries that will likely last a few months.

I watched that video as well

“Markets can remain irrational longer than you can remain solvent.” - John Maynard Keynes

Also worth noting that the 73 Oil supply shock was 7% of capacity interrupted. The none-ME oil is running at like 96% capacity already (3-4MMB short of max)… so yeah, depending how this war goes over the next few weeks, we could be looking at a 5-15% reduction in global capacity over the next 3-5 years post-peace

Trump becoming the most climate friendly president was not on my bingo card for 2026

This is typical listnook panic comment that ignores actual numbers. Of the 20 million barrels per day passing pre-war, Saudi Arabia has redirected 7 million via the pipeline to the Red Sea. In addition, Iran's own 6 million barrels continue to be exported. So the deficit is at roughly 7 mbpd, before we take into account that Iran allows the ships from several nations through the strait.

It's a very small if considering the US would have to back off and that's not going to happen.

They try. But Trump is too much of a Trump to listen to them

In a way they are.

Iv been saying this I don’t understand how everyone is against this bar the two involved so why not have china, EU and the Middle East threaten to f*** them both up

Because no one likes Iranian regime

I mean the choices are believe our dipshit in chief or believe the dictatorship with alleged absolute control. It’s kind of between a rock and a hard place but it’s pretty much impossible to believe what is coming out of the White House right now, and we need to get war updates somewhere

Still a authoritarian regime killing thousands of own people for protesting. But in this very case it's not them who started

No paywall for me. Here you go:     Iraq has had to reduce oil production by around 80%     Storage has filled up as Strait of Hormuz closure prevented exports     Iraq produces more oil than it exports, giving it scope to increase exports even if some capacity damaged BASRA, Iraq, April 6 - Iraq could restore crude oil exports to around 3.4 ​million barrels per day within a week provided the Iran war ends and the Strait of Hormuz reopens, the head of the ‌country’s state-run Basra Oil Company said. Among Gulf oil producers, Iraq has suffered the biggest drop in oil revenue as a result of the effective closure of the Strait, a Reuters analysis has found, because it lacks alternative shipment routes. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. But the country, the second biggest producer in the Organization of the Petroleum Exporting Countries, can quickly restore output to levels before U.S.-Israeli ​attacks on Iran at the end of February led to the effective closure of the waterway. The Strait typically is the route for ​about a fifth of global oil and LNG flows. SO FAR IRAN HAS MADE ONLY VERBAL PROMISES Bassem Abdul Karim said Iran ⁠has so far provided only verbal guarantees that would allow Iraqi tankers permission to transit the Strait. “We have not received any formal documents regarding permission for ​Iraqi tankers to pass,” he said in an interview with Reuters. He said production from Iraq's southern oilfields was around 900,000 barrels per day, but if the ​war ends and safe passage through the Strait is guaranteed exports could reach 3.4 million bpd within a week. U.S. President Donald Trump has threatened to rain "hell" on Tehran unless it makes a deal by the end of Tuesday that would allow traffic to move through the Strait of Hormuz. STEEP DROP IN IRAQI OIL OUTPUT Last month, Iraq’s oil production dropped by about 80% ​to around 800,000 barrels per day, Iraqi energy officials told Reuters last month as the war meant Iraq could not export and storage tanks filled. With limited ​outlets for Iraqi oil, production from the Rumaila field fell to around 400,000 bpd, down from about 1.35 million bpd before the conflict, and at the Zubair field the ‌level was ⁠about 300,000 bpd, down 340,000 bpd before the war, Abdul Karim said. Several smaller fields are being operated at limited levels to ensure continued production of associated gas, used in domestic power generation, while shutdowns at other sites have been used as an opportunity to carry out maintenance work, he added. Production from Iraq's fields was around 4.3 million bpd before the war, which should leave enough leeway to export 3.4 million bpd even allowing for war-related damage. Gas output from fields ​in Basra has dropped to around ​700 million standard cubic feet per ⁠day, compared with about 1.1 billion standard cubic feet mscf per day before the war, largely because of the reduced oil production, Abdul Karim said. MEETING REFINERY DEMAND To supply domestic demand, BOC is sending around 400,000 bpd of crude to ​northern Iraq. That includes about 150,000 bpd by truck and roughly 250,000 bpd via a domestic pipeline, to ​supply refineries that have ⁠demand of around 500,000 bpd. Production from the northern Kirkuk fields is roughly 380,000 barrels per day, Abdul Karim said. Asked about the impact of drone attacks, Abdul Karim said strikes on oil facilities had caused “major losses to the continuity of production and oil operations,” adding that both foreign and Iraqi service companies had been targeted. A two‑drone ⁠attack that ​targeted the Rumaila oilfield on Saturday wounded three Iraqi workers, security and energy sources told Reuters. Abdul ​Karim said the attack on the northern part of the Rumaila field hit sites used by U.S. oilfield services companies Schlumberger (SLB.N), opens new tab and Baker Hughes (BKR.O), opens new tab, causing a fire that was later brought under control. Neither ​Schlumberger nor Baker Hughes immediately responded to requests for comment. Reporting by Aref Mohammed in Basra; Additional reporting and writing by Ahmed Rasheed; editing by Barbara Lewis

I'm too lazy to clean it up. Exclusive: Iraq could restore oil exports to pre-war level within a week if Hormuz reopens, Basra Oil chief says By Aref Mohammed April 6, 20264:49 PM GMT+2Updated 26 mins ago A drone view shows damage at storage facilities belonging to foreign oil companies west of Basra A drone view shows damage at storage facilities belonging to foreign oil companies, after what security sources said was a drone strike west of Basra, Iraq, April 4, 2026. REUTERS/Essam... Purchase Licensing Rights, opens new tab Read more Summary Companies Iraq has had to reduce oil production by around 80% Storage has filled up as Strait of Hormuz closure prevented exports Iraq produces more oil than it exports, giving it scope to increase exports even if some capacity damaged BASRA, Iraq, April 6 - Iraq could restore crude oil exports to around 3.4 million barrels per day within a week provided the Iran war ends and the Strait of Hormuz reopens, the head of the ‌country’s state-run Basra Oil Company said. Among Gulf oil producers, Iraq has suffered the biggest drop in oil revenue as a result of the effective closure of the Strait, a Reuters analysis has found, because it lacks alternative shipment routes. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. But the country, the second biggest producer in the Organization of the Petroleum Exporting Countries, can quickly restore output to levels before U.S.-Israeli attacks on Iran at the end of February led to the effective closure of the waterway. The Strait typically is the route for about a fifth of global oil and LNG flows. SO FAR IRAN HAS MADE ONLY VERBAL PROMISES Bassem Abdul Karim said Iran ⁠has so far provided only verbal guarantees that would allow Iraqi tankers permission to transit the Strait. Advertisement · Scroll to continue “We have not received any formal documents regarding permission for Iraqi tankers to pass,” he said in an interview with Reuters. He said production from Iraq's southern oilfields was around 900,000 barrels per day, but if the war ends and safe passage through the Strait is guaranteed exports could reach 3.4 million bpd within a week. U.S. President Donald Trump has threatened to rain "hell" on Tehran unless it makes a deal by the end of Tuesday that would allow traffic to move through the Strait of Hormuz. Advertisement · Scroll to continue STEEP DROP IN IRAQI OIL OUTPUT Last month, Iraq’s oil production dropped by about 80% to around 800,000 barrels per day, Iraqi energy officials told Reuters last month as the war meant Iraq could not export and storage tanks filled. With limited outlets for Iraqi oil, production from the Rumaila field fell to around 400,000 bpd, down from about 1.35 million bpd before the conflict, and at the Zubair field the ‌level was ⁠about 300,000 bpd, down 340,000 bpd before the war, Abdul Karim said. Advertisement · Scroll to continue Several smaller fields are being operated at limited levels to ensure continued production of associated gas, used in domestic power generation, while shutdowns at other sites have been used as an opportunity to carry out maintenance work, he added. Production from Iraq's fields was around 4.3 million bpd before the war, which should leave enough leeway to export 3.4 million bpd even allowing for war-related damage. Gas output from fields in Basra has dropped to around 700 million standard cubic feet per ⁠day, compared with about 1.1 billion standard cubic feet mscf per day before the war, largely because of the reduced oil production, Abdul Karim said. MEETING REFINERY DEMAND To supply domestic demand, BOC is sending around 400,000 bpd of crude to northern Iraq. That includes about 150,000 bpd by truck and roughly 250,000 bpd via a domestic pipeline, to supply refineries that have ⁠demand of around 500,000 bpd. Production from the northern Kirkuk fields is roughly 380,000 barrels per day, Abdul Karim said. Asked about the impact of drone attacks, Abdul Karim said strikes on oil facilities had caused “major losses to the continuity of production and oil operations,” adding that both foreign and Iraqi service companies had been targeted. A two‑drone ⁠attack that targeted the Rumaila oilfield on Saturday wounded three Iraqi workers, security and energy sources told Reuters. Abdul Karim said the attack on the northern part of the Rumaila field hit sites used by U.S. oilfield services companies Schlumberger (SLB.N), opens new tab and Baker Hughes (BKR.O), opens new tab, causing a fire that was later brought under control. Neither Schlumberger nor Baker Hughes immediately responded to requests for comment. Reporting by Aref Mohammed in Basra; Additional reporting and writing by Ahmed Rasheed; editing by Barbara Lewis

I thought you were making a joke that the oil is behind the hormuz paywall