Iraq approves Kurdistan Regional Government export deal to resume shipments via Ceyhan
Change
Iraq and the Kurdistan Regional Government agreed to resume oil exports via Turkey's Ceyhan port, with flows scheduled to begin at 07:00 GMT on March 18, 2026 and an initial target of at least 100,000 barrels per day.
Why it matters
The deal injects incremental physical crude into international supply channels, reducing immediate pressure on tight spot markets for West Asia cargoes. It does not, however, resolve broader disruptions linked to the Strait of Hormuz or the steep production losses from Iraq's southern oilfields, so systemic supply uncertainty remains.
Implications
- • Physical crude traders' West Asia desks must reprice short-term cargo bids and reallocate purchases to reflect additional volumes available from Ceyhan.
- • Refiners with contractual exposure to Iraqi crude must confirm delivery schedules with sellers and adjust intake plans to accept shipments routed through Ceyhan.
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