Iraq has closed oil production at major southern fields, including Rumaila oil field, which led to an increase in oil prices.
The Iraqi media has confirmed that the state has also suspended production at West Qurna 2, which produces approximately 460,000 barrels per day.
The tanker traffic through the Strait of Hormuz remains disrupted due to rising tensions in the Middle East, as war has broken out between Iran and the US-Israel.
Iraqi officials say navigation problems and a shortage of available tankers have forced producers to suspend the operation, because storage tanks at export terminals are almost full.
Analysts say these supply cuts, along with wider export disruptions in the Gulf, are tightening global oil supplies at a sensitive time for energy markets.
Oil prices move higher
Oil prices have risen in recent days as traders react to the growing uncertainty. Brent crude has climbed sharply, while US oil prices have also increased.
Some market analysts warn that if shipping through the Strait of Hormuz remains disrupted, prices could rise further.
In that case, oil could move toward $90 to $100 a barrel, depending on how long the situation continues.
What does it mean for Pakistan?
Pakistan depends heavily on oil imports from Gulf countries, and most of those supplies pass through the Strait of Hormuz.
If shipments are delayed or shipping costs increase, import bills could rise.
Industry officials say higher freight charges and insurance costs are already adding pressure.
This could eventually affect fuel prices at the pump.
The government has said there is no immediate shortage of fuel.
Officials say current reserves are sufficient for now, and a monitoring committee is keeping track of supply levels and market trends.
Could fuel prices increase?
It is still unclear how quickly global price changes would affect fuel prices in Pakistan.
Local prices depend on international oil rates, the exchange rate, and government taxes.
However, if crude oil remains expensive or rises further, petrol and diesel prices in Pakistan may increase in the coming weeks.
The Strait of Hormuz is one of the world’s most important oil routes.
A large share of global oil exports passes through it.
Any prolonged disruption can affect not only crude oil but also refined products and shipping markets.
For now, energy experts are watching the situation closely.
Much will depend on how long tensions remain high and whether normal shipping can resume in the region.
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