Tag: Iraq

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 »

Brent heads for 5-year low as Saudi discounts spur competition

Futures slid as much as 1.1 percent in London and are headed for a second weekly decline.  More »

300,000 Iraqi oil barrels signal glut will deepen

Just five days after OPEC decided to maintain production levels, Iraq, the group’s second-biggest member, inked an export deal with the Kurds that may add about 300,000 barrels a day to world supplies.  More »

Tanker’s fate unresolved after historic deal

Lawyers representing Baghdad and Erbil met for 20 minutes behind closed doors with a U.S. federal judge on Wednesday to discuss the case involving a tanker carrying Kurdish crude that has been trapped in legal limbo since late July but no action was taken.  More »

Oil rally fizzles as Kurds reach deal on exports with Iraq

The deal allows the shipment of 300,000 barrels a day of Iraqi Kirkuk blend to Turkey’s Mediterranean port of Ceyhan along a pipeline operated by the Kurds.  More »

Iraq reaches major oil deal with Kurds

Earlier this year, Baghdad cut the 17 percent of the state budget that is supposed to go to the Kurdish region.  More »

Oil trims rally as investors weigh OPEC’s inaction on supply

Futures dropped as much as 1.4 percent in London, decreasing for the sixth time in seven days.  More »

Marathon Oil, Total strike oil in Kurdistan

The Houston-based independent oil and gas company said Monday that the Jisik-1 exploration well discovered multiple stacked oil and natural gas producing zones at its Harir Block in the northern reaches of Iraq.  More »

Oil tumbles below $65 as OPEC seen failing to slow shale

OPEC last week resisted calls from members including Venezuela, Iran and Iraq to reduce its production target of 30 million barrels a day at a meeting in Vienna.  More »

10 things to know about OPEC’s big meeting on Thursday

The cartel’s meeting on Thursday could be one of the most consequential in years for the oil and gas industry and global politics.  More »
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