Iraq has reaffirmed its commitment to the OPEC+ agreement, even as the resumption of oil exports from Kurdistan appears imminent.

Iraq reiterated on Monday its commitment to an OPEC+ agreement on production cuts and the gradual phase-out of voluntary reductions, ahead of the resumption of oil exports from the Kurdistan Region.

Iraq’s oil minister said he’s hoping crude oil exports from the country’s northern Kurdistan region will restart in two days after a halt of almost two years following a payments dispute.

Iraq’s oil ministry has announced the resumption of oil exports from northern Iraq’s semi-autonomous northern Kurdish region

Oil prices slipped in Asia on Monday, extending losses from last week, on the prospect of a resumption of exports from Kurdistan's oilfields, while investors awaited clarity on talks to resolve Russia's war on Ukraine.