Iraq Aims to Double Oil Flow through Kirkuk-Ceyhan Pipeline

Iraq is set to more than double its crude oil exports through the Kirkuk-Ceyhan pipeline by next year, according to the state oil marketer SOMO.

The move accompanies rising global supplies, with OPEC+ increasing production to capture market share, while the U.S. pressures Iraq to boost Kurdish oil flows amidst tougher sanctions on Iran.

Priority for oil cargo will be given to companies owed from previous deals, as Iraq aims for up to 500,000 barrels per day by 2026.

(With inputs from agencies.)