Iraq projects oil production to return to pre-war levels within two months (opens original article in a new tab)

Iraq projects oil production to return to pre-war levels within one to two months as the Strait of Hormuz begins to reopen following a deal between Washington and Tehran, despite stalled negotiations.

• Iraqi authorities predict oil production will return to pre-war levels within one to two months
• The Middle East war and Iran's blockade of the Strait of Hormuz caused production cuts and disrupted exports
• A deal between Washington and Tehran has provided some relief, though negotiations have stalled
• Iraq relies heavily on crude exports, which make up about 90% of its revenues
• Exports via the Strait of Hormuz began to recover after the initial agreement between Iran and the US
• Before the war, Iraq exported about 3.5 million barrels per day of oil