Iraq-Iran Talks Stall on Iraqi Oil Exports Arrangement

Baghdad is in talks with Tehran to establish an arrangement for Iraqi oil exports through Iran. According to Oil Minister Basim Mohammed, the mechanism has not yet been activated.

Mohammed did not provide details on the proposed route or expected volumes during a press conference on Saturday. He also stated that Iraq's current export capacity is capped at 1.5 million to 1.75 million barrels per day this month, down from its regular production of approximately 2.7 million barrels.

Iraq currently exports roughly half of its produced oil, which totals around 1.35 million barrels daily based on the minister's figures.