US and Iraq Talk About ‘Quickly’ Resuming Key Oil Pipeline
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The US and Iraq discussed the resumption of a major pipeline that can transport oil from the Middle Eastern country to global markets, after the link was shut almost two years ago following regional cost disputes.
US Secretary of State Marco Rubio and Iraqi Prime Minister Mohammed Shia Al-Sudani “agreed on the need for Iraq” to quickly reopen the project, according to a Feb. 25 statement on the Department of State’s website. The potential restart of the pipeline, which Baghdad has said is likely to resume with about 185,000 barrels a day of initial flows, has weighed on oil prices since Iraq said that it was ready to bring it back online.