Iraq and Turkey strike a 1-year oil pipeline deal to boost exports during ongoing Hormuz closures

Iraq and Turkey signed a 1-year oil pipeline agreement to increase exports via Turkey's Ceyhan port, aiming to diversify Iraq's oil routes amid Hormuz shipping disruptions. The deal commits to a minimum of 750,000 barrels of Iraqi crude per day through the Kirkuk-Ceyhan pipeline, which had been largely idle since 2023 but resumed limited exports last year.