Iraq (IRQ) Oil Exports Set to Triple via Kurdistan Pipeline

Iraq's cabinet has approved plans to expand crude exports through the Kurdistan-Turkey pipeline, increasing shipments from 220,000 barrels per day to 770,000. This measure is crucial as Iraq's oil exports via the Strait of Hormuz fell dramatically from 93 million barrels in April 2022 to just 10 million barrels recently due to ongoing conflict. The project is aimed at mitigating the economic impact on Iraq, where oil constituted 53% of the GDP in 2025. Abu Dhabi is concurrently developing a new pipeline to double ADNOC’s capacity, expected online by 2027, addressing issues arising from Hormuz closures.