Historic Oil Export Agreement Revives Iraqi-Kurdish Collaboration

In a landmark decision, Iraq's Prime Minister Mohammed Shia al-Sudani has announced that the federal oil ministry will oversee crude oil production from the fields in the Kurdistan region, facilitating its export via the Iraqi-Turkish pipeline. This move represents a 'historic agreement' aimed at reshaping regional economic dynamics.

The breakthrough is expected to rejuvenate oil exports that were halted in March 2023, with an estimated 230,000 barrels per day set to flow once more from Iraqi Kurdistan. This suspension had previously affected both local and national economies, creating a pressing need for resolution.

With exports scheduled to resume, the agreement marks a significant advancement in the diplomatic relations between Iraq's central government and the Kurdish region, setting a precedent for future negotiations and cooperation in the sector.