Basra: Iraq's Basra Oil Company announced a complete suspension of pumping operations from the West Qurna-2 oil field, leading to a 50% reduction in output due to force majeure and a shortage of tankers.

According to Qatar News Agency, the production has decreased to 50,000 barrels per day, with the current output being stored in available tanks starting from Tuesday evening. This decision aligns with a decline in Iraqi oil prices and a broader downturn in global crude markets.

In a related development, the North Oil Company reported that technical work on the Iraq-Turkiye pipeline has been finalized. Trial pumping is anticipated to commence within two weeks, marking a step towards resuming stable exports.