Iraq and Turkey strike a 1-year oil pipeline deal to boost exports during ongoing Hormuz closures

Turkey and Iraq have signed a one-year agreement to renew crude oil flows through the Iraq-Turkey pipeline, according to officials confirming the deal. The renewed pact ensures a daily transport capacity of 750,000 barrels of oil.

The agreement comes amid a broader global energy shift, securing a major export route for Iraqi crude through Turkish territory. Officials from both nations finalized the terms to maintain steady regional oil transit over the coming year.