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Iraq confirms its commitment to reduce oil production Tuesday 29 December 2020 46 Baghdad: Saad Al-Sammak Iraq reaffirmed its full commitment to OPEC Plus's limitations in reducing crude oil production, in accordance with the decisions of the organization and its allies to reduce the oversupply and control oil prices, which fell to a low level last May. The director general of the Basra Oil Company, Khaled Hamzah, confirmed to Al-Sabah, "The expor -
Link: https://oilprice.com/Energy/Crude-Oil/Is-OPECs-No2-Finally-Complying-With-Output-Cuts.html Article: Is OPEC’s No.2 Finally Complying With Output Cuts? By Tsvetana Paraskova - Jun 09, 2020, 10:00 AM CDT Join Our Community OPEC’s second-largest producer, Iraq, which also happens to be the least compliant member of OPEC+ since the group started managing supply to the market in 2017, may have finally started taking its obligations seriously. Iraq’s State Oil Marketing Organization (SOMO) has asked some of the Asian buyers of its Bas -
Published: May 19, 2017 6:12 a.m. ET AFP/Getty Images Saudi Arabia's minister of energy Khalid A Al-Falih in Vienna, on June 2, 2016. By SARASJOLIN MARKETS REPORTER BIMANMUKHERJI Oil futures moved sharply higher on Friday, as investors showed some optimism about what will come out of next week’s meeting of the Organization of the Petroleum Exporting Countries.
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OPEC deal important for oil market stability: Iraqi PM By Mohammed Rwanduzy 2 hours ago Iraqi Prime Minister Adil Abdul-Mahdi addresses reporters during his weekly press conference in Baghdad on July 2, 2019. Photo: Iraqi PMO video ERBIL, Kurdistan Region — Iraq’s premier praised the OPEC deal to on Tuesday staying oil production cuts for nine more months because it is important for market stability as Baghdad is so heavily dependent on oil revenue. “This is important for market stability. This topic, for us, the Kingdom and a
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Good morning all! Today has some huge potential for us! The Vienna OPEC meeting is under way as of a couple hours ago (6AM Chicago time). The meeting, including non-OPEC admissions, is set to be done by about 2PM (Chicago time) today. We are still waiting on word about anything specific to Iraq at this time, but that was to be expected. Like I mentioned in the VIP section yesterday, I expect to have a grasp on "what's up" with the situation by later today or this weekend at the latest, but nonetheless I'm being advised to close VIP, ASAP.
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Good Morning Dinar enthusiasts! I have a feeling... that today is going to be a VERY busy day for me. Well, it may not be so much a "feeling" as it is a very strict "to-do" list that my staff gave me at 5AM this morning And I can not tell you how happy this makes me!!!! I can't remember the last time I was this excited about having SO much to get done in one day! If you're just catching up on the latest Dinar news, here's the deal: OPEC is set to meet tomorrow (Thursday 25th of May). Today's preliminary meetings went extremely
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- adam montana weekly
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Happy Friday everyone! If you hadn't noticed, I'm watching this OPEC situation like a HAWK... this is getting serious! We all view the word "soon" with a bit of disdain, but it's starting to taste a little better every day. This rolled across my desk bright and early this morning: But the real reason for this post is to clarify the next OPEC meeting date. I was mistaken earlier this week, the meeting is not on the 27th... it's on the 25th. Ramadan starts on the 26th. Could the 25th or 26th be our day? It's possible, if Ir
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Article by Tom DiChristopher CNBCDecember 28, 2016 The U.S. dollar (STOXX: .DXY) has been on a tear that threatens to derail the oil price rally and OPEC's effort to balance an oversupplied crude market, the editor of The Schork Report warned on Wednesday. Dollar strength is being driven by forecasts for stronger economic growth and inflation in the United States than in other developed nations. Oil prices have so far risen along with the dollar following an agreement among producing nations to cut output. But a stronger greenback typically weighs on crude futures becau -
Saudi Arabia cut its oil price to compete for shares with Iraq and Iran Baghdad/Obelisk: Saudi Aramco has reduced significantly the official selling price for oil to Asian customers in November in the clearest indication so far that the largest oil exporter in the world trying to compete for market share. The step came amid calls from some OPEC action to support prices at a time when global crude price fell standard Brent to its lowest level in two years. But lower prices indicates that Saudi Arabia will probably its policy has long been based on providing the market with sufficient
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Greetings, The Price of Oil and Gasto head downward by 2020? Iraq, Iran Plot Oil Revolution, Challenge Saudi Posted on 29 January 2014 Iraq and Iran, which together hold more oil reserves than Saudi Arabia, are planning to challenge Saudi Arabia's grip on OPEC and its status as the "swing producer" in the cartel, according to a report from The Telegraph. With Iraq poised to triple its capacity to 9 million bpd by 2020, the result could be a dramatic fall in oil prices. Hussain al-Shahristani, Deputy Prime Minister for Energy, said: "We feel the world needs to be assured of fuel
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Here is an article that demonstrates what lost oil production costs are, and how disruption of oil production can affect a country and it's government's budget. Interesting ... Libya lost $7 billion to oil strikes, must find new buyers 12/07/2013 TRIPOLI (Reuters) - Libya has lost more than $7 billion and faces new competition from Algeria and Nigeria in oil markets due to strikes at oilfields and ports drying up exports, Oil Minister Abdelbari al-Arusi said on Saturday. A mix of militias, tribesmen and civil servants have seized most oil ports and fields to demand more politi
