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

Iraq's oil ministry declared on Saturday that the procedures had been completed to allow the resumption of oil exports from the Kurdish

U.S. President Donald Trump's administration is piling pressure on Iraq to allow Kurdish oil exports to restart or face sanctions alongside Iran, eight sources with direct knowledge of the matter told Reuters.

Iraq is awaiting a response from Turkey “within the next 24 hours” regarding the readiness of the pipeline designated for the Kurdistan Region’s oil exports, an official from Iraq’s oil ministry said on Sunday.

The US Energy Information Administration revealed on Sunday that Iraq’s weekly oil exports to the United States significantly increased.

Oil prices slipped in early trade 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 end Russia's war on Ukraine.

Iraq will receive around 185,000 barrels of crude oil a day from the semi-autonomous region of Kurdistan after exports resume via a pipeline to Turkey, a deputy Iraqi oil minister told the state-run Iraqi News Agency on Sunday without providing a time frame.

The Iraqi Oil Ministry announced the completion of all procedures required to resume oil exports from Iraqi Kurdistan.