National Iranian Oil Company Shuts Down Oil Fields Due to Deadly Flood, an Industrial Info Market Brief

National Iranian Oil Company has announced that it has temporarily shut down some oil fields in the southwest Khuzestan province bordering Iraq and the Persian Gulf because of massive floods, leading to a drop of up to 20,000 barrels per day in crude production. The recent floods in the country, which have killed more than 70 people, destroyed thousands of homes and forced hundreds of people to seek emergency shelter.