Iraq Business News brings you information on oil prices in Iraq, with the latest developments and opportunities.
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. "Early Days: Markets Discount a Near-term End to the War" The market, as measured by the Rabee Securities U.S. Dollar Equity Index (RSISX USD Index), was up […]
By John Lee. The eight OPEC+ countries, including Iraq, have agreed to the continuing of their phased rollback of 2.2 million bpd in voluntary cuts that began in April. According to a statement from OPEC, the decision, taken during a virtual meeting on 3rd August, reflects confidence in current oil market fundamentals, including low inventory […]
By John Lee. The eight OPEC+ countries, including Iraq, have reaffirmed their coordinated approach to oil market stability and announced a collective production adjustment for August 2025. In a virtual meeting held on 5 July, the group cited healthy market fundamentals and a stable global economic outlook as the basis for a 548,000 barrels per […]
By Charles Kennedy for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Moves to Profit-Sharing Terms in New Oil and Gas Contracts Iraq seeks to attract more investment in its oil and gas industry by moving to profit-sharing contracts for new […]
From the World Bank: Statement on the Iraq Economic Monitor Spring/Summer 2023 The World Bank identified an error in the reporting of debt data for 2022 and projections for ensuing years reported in the recently published Iraq Economic Monitor (IEM) Spring/Summer 2023 issue. As a result, the debt-to-GDP ratio in 2022 was corrected from 53.8 […]
From the World Bank: Without Reforms, Iraq's Oil Boom Could Turn to Bust Iraq's economy continued its oil-driven recovery after the sharp pandemic-induced recession in 2020, but non-oil sectors have stagnated, and growth constraints have reemerged. Despite a record oil windfall and a long-awaited new budget, Iraq nevertheless remains at risk of missing the opportunity […]
From the World Bank: Iraq Economic Monitor, Fall 2022: A New Opportunity to Reform The World Bank's new Iraq Economic Monitor, A New Opportunity to Reform finds that high oil prices have boded well for Iraq's economy pushing fiscal and external balance into double digit surpluses. After growing by 2.8 percent in 2021, GDP growth […]
The Kurdistan Regional Government (KRG) has released its annual oil and gas audit report for 2020, which revealed several drops in production due to the COVID-19 pandemic. The region's total exported and consumed oil for the year stood at 165,942,861 barrels, about 5 million barrels less comparing to 2019. The average price of oil dropped […]
Stephen Whyte, Chairman of Genel Energy, gave the following update on the business at the Company's Annual General Meeting, held in London on Thursday: Genel had a very successful 2018, with free cash flow generation of $164 million even while making significant investment in growth. 2019 has seen us continue this success. We are delivering […]
By John Lee. Iraq’s Ministry of Oil has announced final oil exports for June of 105,640,161 barrels, giving an average for the month of 3.521 million barrels per day (bpd), an increase from the 3.490 bpd exported in May. These exports were entirely from the southern terminals, with no exports registered from Kirkuk via Ceyhan. Revenues for […]
By John Lee. Iraq’s Ministry of Oil has announced interim oil exports for June of 105,640,160 barrels, giving an average for the month of 3.521 million barrels per day (bpd), an increase from the 3.490 bpd exported in May. These exports were entirely from the southern terminals, with no exports registered from Kirkuk via Ceyhan. Revenues for […]
By John Lee. Iraq’s Ministry of Oil has announced final oil exports for May of 108,175,920 barrels, giving an average for the month of 3.490 million barrels per day (bpd), an increase from the 3.340 bpd exported in April. These exports were entirely from the southern terminals, with no exports registered from Kirkuk via Ceyhan. Revenues for […]
