Can restore oil exports to pre-war levels if Strait of Hormuz opens in a week: Iraq

Iraq's state-run Basra Oil Company said that it could restore crude oil exports to around 3.4 million barrels/day within a week, provided the Iran war ends and the Strait of Hormuz reopens, according to Reuters. The ongoing conflict has forced Iraq to reduce its oil production by around 80%, suffering the biggest drop in oil revenue among Gulf oil producers.