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Turkey, Iraq Agree to Extend Oil Pipeline Deal for One Year

Turkey and Iraq have agreed to extend an oil pipeline deal by one year, securing continued crude exports through a route that bypasses the Strait of Hormuz, according to officials. The renewed agreement ensures crude flow of 750,000 barrels per day through the Iraq-Turkiye pipeline, officials said. The deal had previously expired, and the extension is expected to increase flows through the pipeline, providing an alternative to the strategic waterway. The pipeline offers a key export route for Iraqi oil that avoids the Strait of Hormuz, a narrow passage at the mouth of the Persian Gulf that is a major chokepoint for global oil shipments.

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