Kirkuk Oil Exports Restart: How Iraq–KRG Deal Is Shaking Global Oil Markets?
Iraq and the Kurdistan Region agree to resume Kirkuk oil exports via Ceyhan, as global oil prices drop amid Iran tensions and Strait of Hormuz disruption. In a post on the social media platform X, Masrour Barzani, Prime Minister of the Kurdistan Region of Iraq, said: “Given the extraordinary circumstances facing the country, and the responsibility we all share to get through this difficult chapter, we have decided to allow oil to flow through the Kurdistan Region’s pipeline as soon as possible. In parallel, our discussions with Baghdad will continue with urgency to lift the restrictions on imports and trade into the Kurdistan Region, and to secure guarantees for oil and gas companies so they can safely resume production.” The Hindu Business Line has reported that At 9.58 am on Wednesday, March crude oil futures were trading at ₹8,604 on MCX during the initial hour of trading on Wednesday against the previous close of ₹8,871, down by 3...