Iraq Oil Minister Says We Are Still Negotiating With Turkey Over The Restart Of Oil Exports From The KRG
Portfolio Pulse from Happy Mohamed
Iraq's Oil Minister announced that negotiations with Turkey are ongoing regarding the restart of oil exports from the Kurdistan Regional Government (KRG).
June 02, 2023 | 4:18 pm
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NEUTRAL IMPACT
Ongoing negotiations between Iraq and Turkey over restarting oil exports from KRG may impact the iShares MSCI Turkey ETF (TUR).
The negotiations between Iraq and Turkey are still ongoing, and the outcome is uncertain. If the talks result in a positive agreement, it could benefit the Turkish economy and, in turn, positively impact the TUR ETF. However, if the negotiations fail, it could have a negative effect on TUR. Given the uncertainty, the short-term impact is neutral.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The United States Oil Fund (USO) may be affected by the outcome of Iraq-Turkey negotiations on restarting oil exports from KRG.
The outcome of the Iraq-Turkey negotiations could influence global oil supply dynamics, potentially affecting the USO ETF. A successful agreement may increase oil supply, putting downward pressure on oil prices, while a failure in negotiations could have the opposite effect. Due to the uncertainty of the outcome, the short-term impact is neutral.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50