Iraqi Oil Minister Hayan Abdul-Ghani announced to Reuters that the country is committed to the voluntary production cuts initiated in May and will continue them until the end of 2023. He added that Iraq has not been asked to implement any additional voluntary cuts before the upcoming OPEC+ meeting scheduled for June 4.
Abdul-Ghani indicated on Friday that Iraq wants to resume oil exports through a pipeline from the Kurdistan region in northern Iraq to the Turkish port of Ceyhan starting tomorrow, but is awaiting approval from Turkey. In an interview with Reuters, he stated that Iraq is ready to pump 485,000 barrels per day, including 400,000 barrels from the semi-autonomous Kurdistan region and between 75,000 and 85,000 from Kirkuk oil fields.
He mentioned that the issue of compensation is not up for discussion with Turkey, noting that the halt in oil flows in March coincided with a request from Turkey to inspect the pipeline and storage tanks for any damage resulting from the earthquake on February 6.
