Iraq resumes Kurdish oil exports to Turkey after two-year halt

Iraq has resumed crude oil exports from its Kurdistan region to Turkey, ending a suspension of over two years. The Kirkuk-Ceyhan pipeline had been offline since March 2023 following a legal ruling that Turkey owed Iraq $1.5 billion for unauthorized exports by Kurdish authorities. An agreement between Iraq's federal government, the Kurdistan Regional Government (KRG), and international oil companies now allows for the resumption of shipments. This development, reportedly encouraged by the United States, could eventually add up to 230,000 barrels per day to the global market.