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.

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 Minister confirmed on Monday that the Iraq-Turkey pipeline, designated for the resumption of the Kurdistan Region’s oil exports through Turkey's Ceyhan port, is ready to use.