Iraq restores pre-war oil output at three major fields, ministry says

BAGHDAD, Iraq — Iraq has restored crude oil production to pre-war levels at three major fields following the easing of maritime restrictions in the Gulf under a U.S.-Iran agreement, the Iraqi Oil Ministry said. The ministry said output at the Rumaila, West Qurna 2 and Zubair fields has returned to full capacity. During the disruption, daily production losses reached about 700,000 barrels, according to the ministry. Officials said the fields were brought back online after maintenance and security checks at the facilities were completed. Ministry officials said stabilizing output would allow Iraq to maintain compliance with its OPEC+ quota. The ministry added that Iraq aims to use revenue from the three fields to close its budget deficit and strengthen foreign currency reserves. The Oil Ministry said daily reports on the technical condition of the fields and export lines are being monitored.