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Iraq temporarily stopped work on an oil field on Sunday and supply from a second production site is at risk as widespread unrest escalates in one of OPEC’s biggest producers.
Protesters also shut down border crossings with Iran. according to local media. Oil prices jumped about 1.8% in Asian hours on Monday as the stoppage coincided with disruptions from Libya. reigniting fears over security of supply.
Security guards seeking permanent employment contracts have blocked access to the Al Ahdab field. prompting a halt in production. according to an official who couldn’t be identified. The Badra field is at risk of closure from Monday.
Around 600 people have died and thousands of others have been wounded in clashes between security forces and protesters since Oct. 1. Iraqis. mostly from the Shiite majority population. are protesting against government corruption. poor services. and are calling for an overhaul of the ruling class. The protests led to a brief halt of the Nasiriya field and refinery in December.
Al Ahdab. which was developed by China’s CNPC. produces about 70.000 barrels of oil a day. Badra. whose shareholders include Russia’s Gazprom Neft. has output of about 50.000 barrels a day.
Iraq pumped about 4.65 million barrels a day of crude in December. putting it second behind Saudi Arabia among members of the Organization of Petroleum Exporting Countries.
Separately. protesters closed the Badrat Mehran and al-Sheib border crossings with Iran as part of the intensifying demonstrations against the Iraqi government and Iranian influence in the country. the Saudi Al Arabiya television network reported.
At least 30 protesters were wounded Sunday. some critically. as police used tear gas grenades in Baghdad. said Iraq’s al-Sumaria News. citing security officials.
