Iraq's Oil Minister says the Kirkuk-Turkey pipeline is currently undergoing final checks
Newsquawk Staff ·
Iraq's Oil Minister says the Kirkuk-Turkey pipeline is currently undergoing final checks.
What it means
The statement from Iraq's Oil Minister about the Kirkuk-Turkey pipeline undergoing final checks signals a potential near-term restart of transportation, which could affect supply dynamics in the oil market. If this pipeline begins functioning again, it could ease some upward pressure on WTI prices, reflecting a broader shift in supply availability. Traders should watch for any updates on timing, as disruptions or delays could maintain current volatility.
- ADNOC reportedly informed some Asian refiners that it may begin delivering Upper Zakum crude via a new pipeline to the Fujairah terminal in early 2027, allowing shipments to bypass the disrupted Strait of Hormuz, according to Bloomberg
- US White House says the oil agreement with Venezuela will deliver a total of 65bln barrels
- Syria and Iraq discuss exporting Iraqi oil via the Baniyas pipeline
- UAE’s Sharjah temporarily closes all its beaches as a precautionary measure after an oil spill, according to a statement
- Russian Deputy PM Novak says they are open to work with US partners on energy, but there are no current discussions around a return to specific projects
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