🚨 JUST IN: IRAQ SLASHES OIL PRODUCTION BY 80%
Storage tanks are full, and Strait of Hormuz exports remain blocked due to ongoing conflict, forcing Iraq to cut output drastically.
This 80% reduction is unprecedented and highlights extreme stress on global oil supply.
With the Strait of Hormuz blocked, Iraq can’t ship oil, even as storage fills up, creating a logistics bottleneck.
Markets should expect higher oil prices as global supply tightens further amid Middle East instability.
Energy dependent economies may face inflationary pressure and fuel shortages in the coming weeks.
Geopolitical conflict + supply constraints = a volatile oil market, with ripple effects on trade and global energy security.