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Turkish and Iraqi Officials Set to Discuss Ceyhan Pipeline Closure

OIL

Turkish and Iraqi officials will discuss re-opening the closed Ceyhan pipeline when Turkish President Recep Tayyip Erdogan visits Baghdad – though a date has not been specified.

  • The 500,000 bpd pipeline links Iraq’s semi-autonomous Kurdistan region to the port of Ceyhan in Turkey to be exported to global markets.
  • Preparations for Erdogan’s visit are still ongoing according to Farhad Alaaldin, foreign affairs adviser to the Iraqi prime minister leaving the date for the visit open.
  • The long term closure of the flows have been supportive of crude prices this year and its opening would offer some downside price dircetion against the current tightening narrative driving crude.

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