Tag: Iraq

Crude rebounds as U.S. drilling slows

Oil has dropped more than 10 percent this year following a decline of almost 50 percent last year, the most since the 2008 financial crisis.  More »

Iraq pumps crude at record level amid plummeting prices

The Middle East nation, holder of the world’s fifth-largest crude reserves, is rebuilding its energy industry after decades of wars and economic sanctions.  More »

Iraq to double exports of Kirkuk crude amid oil surplus

Iraq, holder of the world’s fifth-largest crude reserves, is rebuilding its energy industry after decades of wars and economic sanctions.  More »

Iraq oil deal evokes Churchill in Islamic State battle

While their latest dispute was temporarily resolved last month to help finance the struggle against Islamic State, the accord has not addressed differences between administrations in Baghdad and Erbil that include the future of Kirkuk, northern Iraq’s main oil hub.  More »

Dispute over tanker’s Kurdish oil continues in Houston court

A Houston federal judge has asked for an update on settlement negotiations between Iraq and Kurdistan over a cargo of oil anchored in the Gulf of Mexico since July.  More »

Oil extends decline from 5 1/2-year low as glut persists

Brent slumped 48 percent last year, the most since the 2008 financial crisis, as OPEC resisted calls to cut output amid a battle with U.S. shale producers for market share.  More »

Saudi Arabia seen by former adviser assuming $80 oil

The assumption is down from $103 a barrel for this year, John Sfakianakis, who used to be chief economic adviser to Saudi Arabia’s Ministry of Finance.  More »

Oil falls amid concern U.S. growth insufficient to offset glut

OPEC will have to “step in” if prices continue to fall, Iraq Oil Minister Adel Abdul Mahdi said yesterday in an interview.  More »

OPEC oil market defense eludes Libya as production drops

Conflict between the government and Islamist militias has spread to the region of Mellitah, where the country’s fourth-largest oil port is located,  More »

Militant fighting, price plunge threaten Iraq’s oil production goal

Iraq is supposed to add more new oil production by the end of this decade than any other OPEC member.  More »

Crude oil extends drop below $60 as IEA cuts forecast

The IEA reduced its estimate for oil demand growth in 2015 by 230,000 barrels a day on Friday.  More »

WTI oil extends drop below $60 as IEA cuts forecast

WTI has tumbled 20 percent since OPEC decided to leave its output ceiling unchanged last month, resisting calls from members including Venezuela to cut production to stabilize prices.  More »

WTI oil drops below $60 after Saudis question need to cut

OPEC decided against reducing its output quota at a meeting last month, letting prices drop to a level that may slow U.S. production that’s surged to the highest level in more than three decades.  More »

Oil price hit by OPEC numbers as Saudis stand firm on output

OPEC cut the forecast for how much crude it will need to produce next year by about 300,000 barrels a day to 28.9 million a day, the least since 2003.  More »

Kuwait sees oil stuck at $65 for six months until OPEC moves

OPEC decided on Nov. 27 to maintain its output target, prompting a drop in European benchmark Brent crude to less than $70 a barrel for the first time since May 2010.  More »
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