Iraqi and Kurdish Officials Agree to Resume Oil Exports.

The Kurdistan Regional Government (KRG) in northern Iraq has reached an initial agreement with the federal government to restart oil exports, which have been cut off since March 25th. The agreement would remain in effect until the Iraqi Parliament approves the new oil and gas law governing oil exports and revenue from the Kurdistan Region of Iraq. However, Turkey, which shut off the export pipeline immediately following the court ruling, would also have to approve the resumption deal. The international ruling takes some 450,000 barrels per day off the market.