Iraq Starts Huge Oil Cuts as Hormuz Blockage Fills Storage

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000War With Iran:The Rumaila oil field near Basra in Iraq.Iraq started shutting oil production at its biggest fields and is set to make even deeper reductions in the coming days, the clearest sign yet of stress on Middle East producer giants from the closure of the Strait of Hormuz.OPEC’s second-biggest producer has begun closing both the Rumaila field, the nation’s biggest, and the West Qurna 2 project, people familiar with the matter said, asking not to be identified because the information isn’t public. When complete, the halts will stop a majority of the country’s output.