Iraq is losing around $128 million per day due to the suspension of production at the Rumaila oil field and other fields in Kurdistan amid the ongoing Middle East war, Shafaq News reports, citing monitoring by the Eco Iraq Observatory.

The Observatory reported that Rumaila produces around 1.4 million barrels per day, while Kurdistan's production capacity is approximately 200,000 barrels per day, bringing total halted output to around 1.6 million barrels per day.

Based on an oil price of $80 per barrel, daily losses are estimated at approximately $128 million. The observatory warned that the suspension could spread to additional fields if the escalation continues. A one-week halt could cost the Iraqi treasury nearly $900 million, while losses could exceed $3.8 billion if production is suspended for a full month.