Optimistic estimates: Iraqi oil production to recover to 4 million barrels in 6 months

Economic expert Mohammed Al-Hassani confirmed on Wednesday that Iraq possesses the technical and logistical capabilities to restore its previous oil production levels within a record time, based on the limited damage inflicted on the sector’s infrastructure during the 40-day military conflict in the region.

Al-Hassani told Shafaq News Agency that “the decrease in production to around 1.3 million barrels per day, after it had exceeded the threshold of 4 million, came as a result of compelling circumstances represented by the war and the departure of foreign companies, and not due to any fundamental or structural damage to the oil fields and facilities.”

He added that “the safety of most fields means they are ready for rapid operation, enabling Iraq to raise its production to between 2 and 3 million barrels per day during the first months of stabilizing the security situation.”

The economist pointed out that “a full return to previous production levels (more than 4 million barrels) may be achieved within a period not exceeding six months, provided that foreign companies return and resume periodic maintenance and water injection operations.”

This economic optimism comes after US President Donald Trump’s decision to agree to a two-week ceasefire with Iran, a move that stipulated the resumption of navigation in the Strait of Hormuz to ensure the flow of energy supply chains to global markets.

Shafaq.com