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What Does Iraq’s Force Majeure Declaration Mean for Energy Markets?

March 23, 2026 ARTICLES, Energy Market, important 0

Cargo ships line the horizon in the Strait of Hormuz.Shutterstock

Iraq Has Not Reduced Output Due to Policy Decisions or Quotas—It Has Shut Down Production Because It Cannot Export On March 20, 2026, Iraq’s Oil Ministry declared force majeure on oilfields operated by foreign companies after disruptions in the Strait of Hormuz halted tanker traffic and blocked exports. The decision reflected a breakdown in …

Umud is a Washington-based Energy Strategist and Senior Foreign Policy advisor and author of US Energy Diplomacy in the Caspian Sea Basin: Changing Trends Since 2001. He is serving as Faculty Associate – at George Mason University. Umud holds a Ph.D. in International Relations. He comes with extensive expertise and professional experience in global energy market studies, energy security, the geopolitics of climate change, industrial policy for clean energy, as well as foreign policy in the context of climate change and energy transition.

His primary research interests lie in energy diplomacy and energy transition, U.S. energy policy, the geopolitics of energy, Iran-Turkey relations, as well as Iran-Russia relations, the Caspian Sea region, Central Asia and the GCC. He has written about the geopolitics of energy and natural gas, political economy of hydrocarbon states, sustainable cities and mobility, the pace and trajectory of energy transition, the geopolitics of US sanctions against Iran oil exports, and the geopolitics of energy in Europe, the Eastern Mediterranean, Middle East, Central Asia, and Caspian Sea Region.