Iraqi Hezbollah warns of global oil loss of 12 million barrels If energy war erupts
Shafaq News/ Iraqi Hezbollah warned on Thursday that an "energy war" in the Middle East could disrupt global oil supplies by 12 million barrels per day, amid escalating regional tensions following Israel's growing attacks on Lebanon and Gaza.
Abu Ali al-Askari, a senior security official for the group, posted on Telegram, "If an energy war begins, the world will lose 12 million barrels of oil daily. As we’ve said before, either everyone enjoys the wealth, or everyone is deprived."
The warning follows heightened tensions after airstrikes in Lebanon, the assassination of Hezbollah leader Hassan Nasrallah, and an Iranian missile strike on Israel, raising fears of broader conflict spreading across Iraq and the region.
Im 2023, Iraq's oil production amounted to roughly 4.4 million barrels per day, a decrease when compared to the previous year. Oil production in OPEC's second largest exporter experienced an overall increasing tendency from 2005 to 2019, when it reached its peak production at some 4.78 million barrels daily.
