Iraq Could Seek An Exemption From OPEC+ Output Cuts
Iraq is debating whether to ask to be exempted from the oil production cuts OPEC+ agreed on this April. Initially set at 9.7 million bpd, the cuts have now been Continue Reading
OPEC’s Third-Largest Producer Fails To Comply With Output Cuts
The United Arab Emirates (UAE), currently OPEC’s third-largest producer, is estimated to have exported a lot more crude oil in August as it produced more than its quota under the Continue Reading
Baghdad Asks Kurdistan To Cut Oil Production
The federal Iraqi government has asked the Kurdistan Regional Government to reduce oil production by 120,000 bpd, Reuters reported , citing the Iraqi News Agency. The federal government is negotiating Continue Reading
Trump Hints At Saudi Participation In UAE,-Israel Peace Deal
The historic diplomatic deal between Israel and the United Arab Emirates that was announced on August 13 added yet another layer of difficulty to the geopolitical relations in the Middle Continue Reading
IRAQ DATA: Aug crude output falls, but SOMO says KRG caused OPEC+ non-compliance
Highlights Iraqi production, including KRG, averaged 3.578 mil b/d Quota, including compensation cut, was 3.404 mil b/d SOMO says KRG only 79% compliant with agreed cut London — Iraq lowered Continue Reading
Saudi Aramco Is Now Suffering The Consequences Of A Failed Oil Price War
It was evident to anyone with even half a brain that the last Saudi-instigated oil price war would end in abject failure for the Saudis , just as the previous Continue Reading
U.S. to Cut Its Force in Iraq to About 3,000 Troops, Commander Says
The Trump administration will cut the number of U.S. troops in Iraq to about 3,000 this month, a top military commander said in the country on Wednesday, a reduction from Continue Reading
Saudi Arabia to keep pumping despite fall in crude prices
Saudi Arabia plans to keep oil production steady despite a recent slump in prices, fearing any bigger output cuts would lead rivals in Opec to increase supply. Five people briefed on Continue Reading
UAE’s Nuclear Power Pivot Comes At A High Cost
The United Arab Emirates have just become the first Arab nation to operate a nuclear plant as its 5.6GW Barakah nuclear plant achieved criticality on its Unit 1 in the Continue Reading
Saudi Economic Outlook Sours After Oil Price Crash
Saudi Arabia’s economic outlook for this year remains uncertain amid the pandemic-driven economic slowdown and the collapse in oil prices that led to the Kingdom slashing its oil production as Continue Reading