Iraq To Resume Oil Exports To Turkey Via Pipeline Shuttered A Decade Ago Amid Kurdish Negotiation Deadlock
Portfolio Pulse from Benzinga Neuro
Iraq plans to resume oil exports to Turkey via the Kirkuk-Ceyhan pipeline, inactive for a decade, with a potential export capacity of 350,000 barrels per day. This development comes amid stalled negotiations with the Kurdistan Regional Government and could significantly impact regional oil exports and the global oil market, which is already facing tight supply and rising demand.
April 08, 2024 | 11:34 am
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The reactivation of the Kirkuk-Ceyhan pipeline could increase oil supply, potentially impacting BNO's performance.
BNO, which tracks Brent crude oil prices, may see an impact due to increased oil supply from Iraq to Turkey, potentially affecting global oil prices.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
The Kirkuk-Ceyhan pipeline's reactivation may influence USO by altering the supply dynamics in the oil market.
USO, which tracks West Texas Intermediate crude, could be affected by changes in global oil supply dynamics resulting from the pipeline's reactivation, potentially influencing oil prices.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80