Oil Spikes To Session High As Iraq Starts Shutting Output At Massive Oil Field

Oil Spikes To Session High As Iraq Starts Shutting Output At Massive Oil Field Here are the most critical developments unfolding in the US-Iran conflict:  Iraq's crude oil output is being significantly curtailed. An update from Iraq specifies a shutdown of 460,000 bpd at West Qurna 2 and a cut of 700,000 bpd at Rumaila, while warning that more than 3 million bpd could be forced offline in the coming days if tanker access remains limited. Export crude bottlenecks are developing across Iraq. Storage at southern export terminals is nearing critical capacity...