Turkey has reportedly reached an agreement with Iraq to extend an expired oil pipeline deal by one year and increase oil flows. The deal, which was set to expire, will now continue for an additional 12 months.
The agreement marks a significant development in the oil trade between the two countries. The pipeline, which transports crude oil from Iraq to Turkey, is a crucial transportation route for the region's oil exports. The extended deal is expected to have a positive impact on the global oil market, particularly in the Mediterranean region.