Did Iraq Just Doom The OPEC Deal?
OPEC is in negotiations with its members to find the best way forward, but talks appear to have stalled over one laggard, Iraq, which has failed to live up to Continue Reading
Iran says coronavirus restrictions could return if second wave hits
(Reuters) – Iran’s president warned the public on Wednesday that restrictions may have to be reimposed to fight the coronavirus if the country is hit by a second wave of Continue Reading
Israel Shuts Some Schools as Coronavirus Cases Jump After Reopening
Israel closed 15 schools Wednesday as it rushed to contain a coronavirus outbreak that threatens to shut the rest weeks after restarting, highlighting the risk of children spreading the disease. Continue Reading
Saudi Arabia poised to reverse extra production cuts as Opec+ meets
Saudi Arabia is set to unwind the extra production cuts it pledged last month, increasingly confident that the grand bargain agreed by oil producers in April to reduce supply has Continue Reading
Bahrain To Speed Up Development Of Huge 80 Billion Barrel Oil Reserves
Given the massive negative hit taken by Saudi Arabia’s economy as a result of Crown Prince Mohammed bin Salman’s oil price war, aimed at destroying the U.S. shale oil industry Continue Reading
Saudi Arabia And Russia Agree To Extend Production Cuts
Saudi Arabia and Russia have reached a preliminary agreement to extend the current level of the OPEC+ production cuts by one month, provided that the laggards in compliance ensure over-compliance Continue Reading
Iraq’s May exports exceed its OPEC production quota
Iraq’s nationwide exports exceeded its OPEC production quota in May, prompting the country’s acting oil minister to promise further cuts. “Despite Iraq’s severe financial constraints, we’re addressing technical issues that Continue Reading
Iran signs 2-year pact to export electricity to Iraq
Highlights Previously, both signed a one-year agreement Iraq paid $400 mil, or half of cost of electricity supply US extends Iraq’s sanctions waiver for Iranian electricity on May 7 Tehran Continue Reading
As Iran Lifts Its Lockdown, Coronavirus Cases Return to Peak Level
As Iran fought to contain the coronavirus epidemic, governments including Saudi Arabia and Iraq closed some of the world’s largest religious sites and canceled prayers. Iran is rolling back coronavirus Continue Reading
OPEC’s Second Largest Producer Won’t Give Up On Output Cuts
OPEC’s second-largest producer and the biggest laggard in the output cuts, Iraq, will further reduce production and remains committed to the OPEC+ pact, Iraqi Deputy Prime Minister and acting Oil Continue Reading