IRAQ SUSPENDS OIL LOADING AT BASRA TERMINAL AFTER DRONE STRIKE

BAGHDAD, July 16 (Reuters) – An oil tanker was struck by a drone attack at Iraq’s Basra oil terminal on Sunday, prompting authorities to suspend all oil loading operations while the situation is assessed, an Iraqi security source said.

According to the source, the attack did not cause a fire, but the impact still had the potential to disrupt Iraq’s vital oil exports. The incident marked the latest in a string of attacks targeting oil infrastructure and installations in Iraq.

Iraq’s Basra oil terminal is a crucial hub for the country’s oil exports, with the majority of the nation’s crude being processed and shipped from the facility. All oil loading operations at the Port of Basra have been temporarily halted as authorities investigate the matter.

“The operations at the terminal have been suspended pending an investigation into the incident,” an unnamed security official informed Reuters. The official added that the authorities are working to determine the origin and nature of the drone that struck the tanker.

Iraq’s oil ministry had previously reported that it had received several threats from militias, which vowed to disrupt the country’s oil production and export activities if their demands were not met.

Tensions in the oil-rich region have been escalating in recent months, with several attacks reported on oil pipelines and infrastructure across Iraq and neighboring countries.

A senior industry source expressed concern over the suspension of oil loading operations at Basra, saying it “could result in missed export targets and increased production costs.”

Iraq has faced a series of drone attacks targeting its oil facilities in recent years, primarily claimed by Iranian-backed militias. The attacks have disrupted Iraq’s oil exports and contributed to increased regional tensions.

As a result of the suspension of oil loading operations at Basra, Iraq’s oil production and export activities are likely to be affected, and global markets may be impacted by any resulting shortfalls in crude supplies.