Iraq Intensifies Negotiations with Turkey for a New Strategic Oil Agreement

The Iraqi government has formed a supreme committee comprising representatives from the Ministries of Oil, Foreign Affairs, and Finance, alongside the Kurdistan Regional Government, to manage negotiations with Turkey regarding a new crude oil export agreement, as the current pact nears expiration. The accelerated talks aim to reach understandings that ensure the uninterrupted flow of oil exports through the Iraq-Turkey pipeline to global markets. Baghdad seeks to increase export volumes via the Turkish port of Ceyhan from 200,000 barrels per day to over 350,000 barrels, to meet European market demands, particularly in light of recent developments concerning the Strait of Hormuz.