Iraq had won an arbitration lawsuit filed before the ICC Arbitration Panel in Paris against Ankara over the export of crude oil from the Kurdistan region. The export of Kurdistan's oil of 480,25 barrels per day stopped on March 0, and the stopped flows represent only about 5.33% of the global oil supply.
Foreign companies, including U.S. and Canadian, operating in the region, to stop issuing their production forecasts. Iraq has been seeking for years to increase its daily oil production, and Baghdad relies on crude oil exports.