Iraqi oil official: Exports expected to increase by 185,000 barrels per day

Iraq will export 185,000 barrels of oil per day from fields in the Kurdish region through the Iraq-Turkey pipeline and gradually increase it to 400,000 barrels per day once oil delivery resumes, Deputy Oil Minister Basm Mohammed said on Sunday. Basm revealed no specific timetable but expected Turkey to respond within 24 hours. Basm said the Kurdistan region's oilfields have a capacity of 300,000 barrels per day, some of which will be used domestically, and the remaining 185,000 barrels per day will be dedicated to exports. Iraq's oil ministry said on Saturday that all procedures to resume exports from the Iraq-Turkey pipeline have been completed, which could resolve a dispute that has lasted nearly two years and disrupted the flow of crude oil. However, the resumption of pipeline transportation could pose a dilemma for Iraq, with Baghdad obligated to cut crude oil production as part of the OPEC + deal and U.S. President Donald Trump calling on OPEC + to lower oil prices.