Iraq loses $128 million per day as Rumaila, Kurdistan oil output halts

2026-03-03 - 14:34

Shafaq News- Kirkuk/ Basra Iraq is losing an estimated $128 million per day due to the suspension of production at the Rumaila oil field and fields in the Kurdistan Region amid the fallout from the ongoing Middle East war, the Eco Iraq Observatory said on Tuesday. The monitor said Rumaila produces about 1.4 million barrels per day, while output capacity in the Kurdistan Region stands at roughly 200,000 barrels per day, bringing the total halted production to around 1.6 million barrels daily. Based on an oil price of $80 per barrel, daily losses are estimated at approximately $128 million, the observatory said, warning that the suspension could expand to additional fields if escalation continues. It added that a one-week halt could cost Iraq’s treasury nearly $900 million, while losses may exceed $3.8 billion if production remains suspended for a full month.