Oil flows from Iraq’s Kurdistan to Türkiye flows at 160,000 barrels per day

Oil shipments from Iraq’s Kurdistan region to Türkiye’s Ceyhan port have resumed, flowing at a rate of 150,000 to 160,000 barrels per day, two industry sources told Reuters.

Bassem Mohamed, Iraq’s oil ministry undersecretary, said the resumption of Kurdish oil flows is expected to boost the country’s total exports to nearly 3.6 million barrels per day (bpd) in the coming days. He added that Iraq’s production and export levels would remain within the country’s OPEC quota of 4.2 million bpd.

Iraq, the largest overproducer within OPEC, had submitted updated plans in April to reduce oil output further in order to offset production that exceeded agreed limits.

The Kurdish oil flows through the Kirkuk-Ceyhan pipeline were halted in March 2023 following a ruling by the International Chamber of Commerce, which ordered Türkiye to pay Iraq $1.5 billion in damages over unauthorized exports conducted by Kurdish regional authorities.

The exports restarted on September 27.

By Sabina Mammadli