Iraq's Kurdistan oil flows to Turkey running at 150,000-160,000 bpd, sources say

LONDON, Sept 29 - Crude oil flows from Iraq's Kurdistan region to Turkey’s Ceyhan port are running at 150,000-160,000 barrels per day after their resumption on September 27, two industry sources told Reuters.

Flows resumed on Saturday for the first time in two and a half years, as eight oil companies operating in Iraqi Kurdistan, reached agreements with Baghdad and the Kurdistan Regional Government.

According to the agreement, the KRG will deliver the crude to SOMO, Iraq's national oil marketing company, and an independent trader will handle sales from Ceyhan using SOMO's official prices. Producers will get $16 per barrel.

The deal comes as OPEC+ oil-producing countries have been increasing output to gain market share.