Iraq’s oilfields are ready to resume production and a return to normal output levels will take place gradually until previous production rates are restored, Oil Minister Basim Mohammed told Iraq’s state news agency early on Friday. He said state oil marketer SOMO had contacted all customers to nominate chartered and owned tankers to load contracted Iraqi crude oil cargoes from the country’s southern ports. He added that the resumption of exports would be gradual and dependent on the smooth passage of shipments through the Strait of Hormuz.
(Reporting by Ahmed Tolba in Cairo; Editing by Nia Williams)