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flag Iraq's oil production halted due to Strait of Hormuz blockade, causing economic instability.

flag Iraq's oil industry has nearly ground to a halt due to the closure of the Strait of Hormuz, which blocks exports from the country's main oil-producing region. flag Production in Basra has dropped by over 70%, falling from 3.1 million to about 900,000 barrels per day, as drone and missile attacks target infrastructure and deter foreign workers. flag The government may only last until mid-May on existing funds before needing to issue bonds, risking financial instability.

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