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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 conflict involving Iran, which has blocked the Strait of Hormuz. flag Production in Basra has plummeted by over 70%, dropping from 3.1 million to 900,000 barrels per day. flag Key fields have scaled back operations, and foreign workers have fled amid attacks. flag With the government's funds expected to last only until mid-May, it may need to issue bonds, risking financial strain.

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