12:43 - 4.03.2026

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March 4, Fineko/abc.az. Baghdad was forced to reduce oil production almost completely: due to the blockade of the Strait of Hormuz, overcrowded storage facilities and threats to shipping, the country has already reduced production by 3 million bpd.

ABC.AZ informs that Iraq, the second largest OPEC exporter (4.5 million bpd), faced suspension of exports from Kurdistan, where foreign companies stopped work on fields for safety. Previously, China and India bought almost two thirds of Iraq's oil.

At the same time, an elite unit of the IRGC of Iran declared full control over the Strait of Hormuz and the destruction of more than 10 oil tankers. The conflict between the United States and Iran entered the phase of an exchange of missile strikes on February 28.