Oil Prices Fall as Iraq and Kurdish Authorities Agree to Resume Pipeline Exports

23 Sep 2025

Global crude oil prices extended their decline after the governments of Iraq and the semi-autonomous Kurdistan region reached an agreement to restart a key pipeline that had been shut for months.

The deal clears the way for the resumption of oil exports from northern Iraq through Turkey’s Ceyhan port, which had been halted due to political and financial disputes. Market watchers noted that the restart could bring back nearly 450,000 barrels per day of supply, easing concerns over tight global inventories.

The additional flow of crude into international markets is seen as a major factor pressuring prices downward, with traders now reassessing supply-demand balances amid steady output from OPEC+ producers and signs of weakening global demand growth.