Fact-check: The claims about Iraq shutting 1.6 million barrels per day are based on OilPrice.com, a credible energy-focused source, but lack immediate verification from major news outlets or official Iraqi statements amid the Strait of Hormuz tensions. While global oil market fluctuations, such as the Canadian crude discount, align with current geopolitical risks, the specific production halt figure appears speculative without broader corroboration. Recent X posts and verified reporting discuss regional tensions but do not confirm the exact shutdown details.
Iraq shuts 1.6M barrels/day output as Hormuz crisis deepens
Iraq has shut in approximately 1.6 million barrels per day of crude output in response to the Strait of Hormuz crisis, according to OilPrice.com. The production halt marks a major escalation in the supply shock, as Canadian heavy crude has tightened to an $11.80 discount to WTI—the narrowest differential since November—reflecting a global reshuffling of oil barrels amid geopolitical risk.