Iraq's oil output has dramatically fallen to 1.39 million barrels per day (bpd) from 4.1 million bpd, a direct consequence of escalating US-Iran conflict. This significant supply shock in the global energy market is driving crude oil prices higher, with a 26.5% probability of reaching an all-time high by September 30th. For crypto, rising energy costs fuel inflation concerns, potentially prompting central banks to maintain tighter monetary policies, which typically acts as a headwind for risk assets like Bitcoin. Investors should monitor geopolitical developments in the Middle East and their impact on global inflation expectations.
This event highlights how geopolitical instability in critical energy regions directly impacts global inflation and monetary policy. Sustained energy price shocks will likely constrain risk asset performance, including crypto, as liquidity tightens.
Iraq's output collapsed to 1.39M bpd amid US-Iran conflict, down from 4.1M bpd. Crude oil all-time high by Sept 30 at 26.5% YES. The post Iraq oil output collapses to 1.39M bpd amid US-Iran conflict appeared first on Crypto Briefing.