Tentative moves towards improved Saudi-Iraqi relations raise the possibility of Iraq regaining access to a 1.6mn b/d export pipeline through the kingdom. This could prove a win-win for both.

Saudi Arabia appears to be adopting a more nuanced foreign policy toward neighboring Iraq. It’s early days yet, but there are signs of more cordial relations emerging which could offer considerable potential benefits for both.

Iraq has suggested that it desires access to an export pipeline...