Baghdad, Erbil Strike Oil Deal After 2-Year Export Halt

After more than two years of halted crude oil exports, the Iraqi government and the Kurdistan Regional Government have reached a deal to resume flows via Turkey.

Under the agreement, Kurdistan will deliver no less than 230,000 barrels per day to Baghdad’s State Oil Marketing Organization (SOMO), with Iraq paying $16 per barrel in advance.

The breakthrough follows a legal ruling that restricted Erbil’s independent oil sales and comes amid recent drone attacks targeting oil sites in the Kurdish region.

The latest announcement brings hopes the deal will stabilize the region and resolve delayed public salaries tied to the export freeze.