Iraq Inches Closer to Restoring Oil Export Pipeline to Turkey

Monday, 8 April 2024, 08:27

Iraq has completed the initial phase of repairing its oil export pipeline to Turkey, with operations expected to resume by the end of April. The country is anticipated to export 350k barrels per day from the northern oilfields. Despite this development, the impact on crude prices has been marginal, reflecting the market's subdued reaction.

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Recent Progress in Iraq's Oil Export Pipeline

Iraq has successfully completed the initial repairs on its oil export pipeline to Turkey, signaling a step towards resuming operations by the end of April. The country aims to export 350k barrels per day from its northern oilfields.

Market Response and Impact on Crude Prices

The news has led to only a marginal reaction in crude prices, underlining the subdued market sentiment surrounding the development. Despite the anticipated increase in exports, the immediate impact on oil prices has been limited.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.