Iraq confirmed 1.5 million barrels per day offline overnight.
Rumaila: 700K bpd
West Qurna 2: 460K bpd
Maysan: 325K bpd
Kirkuk: 220K bpd
Total: 1.5M barrels/day shut in.
Global oil prices have already surged.
Brent ≈ $82 | WTI ≈ $76
This isn’t damage...it’s oil that can’t move.
Storage tanks are full. No tankers loading. Wells shut in.
JPMorgan warns cuts could reach 3.3M bpd if Hormuz remains closed.