By John Lee. OPEC has announced that eight OPEC+ countries will implement a production adjustment of 206,000 barrels per day in May 2026, as part of ongoing efforts to stabilise global oil markets. The decision was taken during a virtual meeting on 5 April involving Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman. […]
By John Lee. Iraq has agreed steps to unify customs procedures across all border crossings, including those in the Kurdistan Region, as part of efforts to enhance trade management and public revenues. The decisions were taken during a meeting of the Ministerial Council for the Economy, chaired by Foreign Minister Fuad Hussein and attended by […]
By John Lee. Turkey's Imas has signed a third agreement with Iraq's Mokhalad Group for the construction of an additional flour mill project in Iraq, reinforcing an ongoing partnership in the country's milling sector. The latest agreement follows two earlier projects, bringing the total number of flour mills developed for Mokhalad Group to three. Each facility […]
By John Lee. Egypt's Edita Food Industries has reportedly reduced production at its Iraq facility and delayed product launches due to the impact of the ongoing regional conflict. Vice President and CFO Sameh Naguib told Zawya that the company has cut output to around 30-35 percent of capacity, compared with an initial target of 70-80 percent […]
By John Lee. In a significant development, Iraq has confirmed cooperation with Iran to allow the passage of Iraqi oil through the Strait of Hormuz, following high-level discussions in Baghdad on Sunday. Iraq's Minister of Foreign Affairs, Fuad Hussein, expressed his appreciation for allowing tankers carrying Iraqi oil to pass through the Strait, noting the […]
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Market Reaches All-Time Highs as War Rages The market, as measured by the Rabee Securities U.S. Dollar Equity Index (RSISX USD Index), was up 2.6% for March, […]
By John Lee. Iraq's State Oil Marketing Organization (SOMO) has confirmed that Iraq exported approximately 18 million barrels of oil in March, generating revenues of nearly $2 billion, equivalent to about 28 percent of February's pre-crisis revenues. In a video statement, Director General Ali Nizar Al-Shatri [Shatari] said that SOMO coordinated closely with buyers and increased […]
By John Lee. The gap between Iraq's official and parallel market exchange rates for the dinar widened from mid-December 2025 before stabilising in early March 2026, reflecting shifts in import demand and recent customs reforms. Ahmed Tabaqchali, in his latest monthly report for Iraq Business News, says the divergence was driven by increased demand for […]
By Alisha Chhangani, for the Atlantic Council. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Inside Tehran's toll booth There is a lot of attention right now on how Iran is managing access to the Strait of Hormuz -- operating a kind of […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Will parliamentary revolt end deadlock over government formation in Baghdad? Lawmakers in Baghdad are mounting a renewed campaign to break the deadlock over Iraq's long-stalled government formation. The push reflects how the over-extended […]
By Karyna Naminas, CEO of Label Your Data. Why High Quality Data Annotation Is Non-Negotiable Explore how modern data annotation tools support structured workflows, agreement tracking, and reliable ground truth creation High-quality data annotation drives every AI system you rely on. If your labels are wrong, your model will learn the wrong patterns, there is […]
By John Lee. The Iraqi government has reviewed a proposed settlement with Lukoil following its withdrawal from the West Qurna 2 field. The discussions took place during a meeting chaired by Prime Minister Mohammed Shia Al-Sudani, with the participation of Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul Ghani Al-Sawad, Finance […]
