Iraq and Syria signed a memorandum of understanding in Washington last week to rehabilitate and reconstruct the Iraq-Syria crude oil pipeline, a project aimed at restoring a key export route from Iraqi oil fields to Syria’s Mediterranean coast and to reduce the dependence to the Strait of Hormuz.

Iraq is accelerating plans for new pipeline routes through Syria and Turkey to diversify crude exports away from the Strait of Hormuz with support from U.S. and Qatari partners.

US supports Iraq-Syria pipeline project for energy security. WTI reaching $110 by July 2026 at 5.3% YES.