Tag Archives: SHAFAQ News

On Saturday, Iraq’s Foreign Minister Fuad Hussein warned that global oil prices could surge to $300 per barrel if military tensions between Iran and Israel continue to escalate. The warning came during a phone call with his German counterpart, Foreign Minister Johann Wadephul, as the two discussed rising instability in …

Oil prices rebounded more than $1 a barrel on Monday after producer group OPEC+ decided to increase output in July by the same amount as it did in each of the prior two months, which came as a relief to those who expected a bigger increase. Brent crude futures climbed …

US crude futures fell on Friday as traders expected OPEC+ would decide on Saturday to boost oil output for July beyond previous forecasts. Brent crude futures settled down 25 cents, or 0.39%, at $63.90 a barrel. US West Texas Intermediate crude finished down 15 cents, or 0.25%, at $60.79 a …

Iraq ranked fourth among the top oil exporters to China in April 2025, China’s General Administration of Customs revealed on Sunday. The Administration noted that Iraq exported approximately 4.59 million metric tons of crude oil to China last month—equivalent to about 29.32 million barrels. Russia topped the list of oil-exporting …

Oil prices fell more than $2 a barrel in early Asian trade on Monday as OPEC+ is set to further speed up oil output hikes, spurring concerns about more supply. Brent crude futures dropped $2.04 a barrel, or 3.33%, to $59.25 a barrel by 2240 GMT while U.S. West Texas …

Oil prices fell more than 1.5% on Monday as investors once again focused on concerns U.S. tariffs on its trading partners will create economic headwinds that will reduce fuel demand growth. Brent crude futures slipped $1.10, or 1.6%, to $66.86 a barrel at 0255 GMT after closing up 3.2% on …

Oil prices retreated on Thursday as U.S. President Donald Trump ramped up a trade war with China, even as he announced a 90-day pause on tariffs aimed at other countries. Brent futures fell 77 cents, or 1.18%, to $64.71 a barrel by 0320 GMT, while U.S. West Texas Intermediate crude …

Oil prices fell on Monday as concern about the impact of U.S. import tariffs on global economic growth and fuel demand, as well as rising output from OPEC+ producers, cooled investor appetite for riskier assets. Brent crude fell 31 cents, or 0.4%, to $70.05 a barrel by 0445 GMT after …

India’s crude oil imports from Iraq increased in February 2025, according to data from analytics firm Kpler. India’s oil imports from Iraq increased 8.3% this month compared to January, surpassing 1.1 million barrels per day (bpd), the data showed. Conversely, imports from Russia reportedly fell by 14.9% to an average …

Canada remained the top crude oil supplier to the United States in January 2025, exporting an average of 3.8 million barrels per day (bpd), according to data from the US Energy Information Administration (EIA) and analytics firm Kpler. Mexico ranked second with 457,000 bpd, followed by Saudi Arabia at 275,000 …