Iraq resumes Kirkuk oil exports after a one-year break

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Iraq has resumed exporting Kirkuk oil from the Turkish port of Ceyhan, Reuters reported, citing sources in the industry. More than a year ago, as a result of the confrontation between the central government of Iraq and the semi-autonomous region of Kurdistan, the supply of this crude was stopped. The agency notes that the conflict was resolved thanks to the actions of American diplomacy that influenced both sides. The supply in the world market declined after the restoration of US sanctions against Iran, and the resumption of supplies of Iraqi Kirkuk, which began last Friday, will contribute to its growth. So far, the level of supply of this crude is only 50-60 thousand barrels per day. Reuters sources did not say what level they could reach in the future, noting that earlier their maximum volume was 300 thousand barrels per day.

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