The Ministry of Oil announced the formation of a joint supreme committee to manage negotiations with Turkey aimed at concluding a new agreement to regulate crude oil exports through Turkish territory, as the current agreement nears its expiration. The committee includes representatives from the Ministries of Oil, Foreign Affairs, and Finance, as well as representatives from the Kurdistan Regional Government, to ensure the drafting of a comprehensive agreement for the upcoming phase. The committee seeks to reach clear understandings that guarantee the continued flow of oil exports through the Iraq-Turkey pipeline to maintain global market stability and avoid any disruption in operations. This file is considered a strategic priority for the government, especially since Iraq possesses a pipeline system with a design capacity of 1.6 million barrels per day connected to the Ceyhan port storage facilities. The government currently aims to increase its exports of 200,000 barrels per day to over 350,000-400,000 barrels to supply European markets following recent developments involving the closure of the Strait of Hormuz.