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 it was halted almost two years ago following a payments dispute.

Oil exports from Iraq's Kurdistan region are set to resume in a week following an agreement between Kurdish authorities and the federal oil ministry. This announcement was made by Iraqi Oil Minister Hayan Abdel-Ghani,

Kurdistan is set to resume oil exports by the end of March following a two-year halt due to a dispute with the Iraqi government.

Iraq is expecting Turkey's approval to restart oil exports from the Kurdish region, according to Iraqi officials. A resolution is anticipated in a week, amidst U.S. pressure on Iraq to resume exports.

Iraqi authorities have rejected reports that they have allowed a resumption of oil exports from the Kurdistan region because of threats by the US government.

Oil exports from the semi-autonomous Kurdistan region will resume next week, Iraq's oil minister said on Monday, resolving a near two-year dispute as ties between Baghdad and Erbil improve, potentially adding more supply to the oil market and weighing on prices.

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.