Iraq can restore its oil output and exports to normal levels within seven days after the Strait of Hormuz crisis comes to an end, Deputy Oil Minister Basim Mohammed said on Saturday, according to Reuters.
The Iraqi official said the country would be able to bring production and export operations back to normal within a week once the disruption linked to the Strait of Hormuz is resolved.
Hormuz Crisis Continues To Rattle Global Energy Markets
The statement comes amid continuing concerns over instability around the Strait of Hormuz, a critical global oil transit route that has remained under heightened focus during the ongoing US-Iran conflict.
Oil Markets Watching For Supply Stabilisation
Iraq’s remarks are likely to be closely watched by energy markets amid fears of prolonged supply disruption stemming from tensions in the region.
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