Reading Time: 2 minutesOil prices declined for a fifth consecutive session on Tuesday, as a preliminary agreement reached between Iraq and Kurdish regional governments to restart an oil pipeline added to oversupply concerns. Iraq’s federal and Kurdish regional governments reached a deal with oil firms to resume crude exports via Turkey on Monday, two oil officials told Reuters. U.S. crude oil stockpiles were expected to have risen last week, while gasoline and distillate inventories likely fell, a preliminary Reuters poll on Monday showed. Elsewhere, Saudi Arabia’s crude oil exports in July hit their lowest level in four months, according to data from the Joint Organizations Data Initiative (JODI) released on Monday. Iraq, the Organization of the Petroleum Exporting Countries’ second-largest producer, has increased oil exports under an OPEC+ agreement, state oil marketer SOMO said.