A weekend report that Iraq expects to reach an agreement with the Kurdistan Regional Government (KRG) and foreign oil companies to resume oil production from the Kurdish region’s oilfields within three days.
Via a statement from Iraqi oil minister Hayan Abdel-Ghani.
- Iraq has reached an understanding with Turkey in relation to resumption of northern oil exports through the Iraq-Turkey pipeline
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The background to this is that Turkey halted 450,000 barrels per day (bpd) of northern exports through the Iraq-Turkey pipeline from March 25 after an International Chamber of Commerce (ICC) arbitration ruling.
A little extra oil supply, at the margin, if this comes through.