Ministry spokesman says Iraqi oil production reduced to 1.2m BPD and Iraq is attempting to resume Kirkuk oil flow

The reduction in Iraqi oil production to 1.2 million barrels per day (BPD) could signal supply constraints, which may impact global oil prices, particularly WTI. Additionally, efforts to resume Kirkuk oil flow indicate Iraq's intent to stabilize production, but the effectiveness and timeline of these efforts will be crucial in assessing market implications.