Tag Archives: SHAFAQ News

EIA: US Oil Imports from Iraq Surge by Roughly 510,000 bpd

On Sunday, The US Energy Information Administration (EIA) reported that Iraq’s oil exports to the United States increased by 510,000 barrels per day last week. According to the EIA’s weekly petroleum status report, US crude oil imports from eight major exporters averaged 5.201 million bpd, up roughly 510,000 bpd compared …

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Iraq’s Oil Exports to the US Rose to 226,000 bpd

The US Energy Information Administration (EIA) announced, on Sunday, that Iraq’s oil exports to the United States rose last week to 226,000 bpd last week. The EIA mentioned that the average US imports of crude oil during the past week from nine major countries reached 5.642 million bpd, increasing by …

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Oil Prices Decline after US Crude Inventories Surge

Oil prices fell on Thursday after a larger-than-expected jump in U.S. crude inventories, raising concerns about demand in the world’s largest economy and top oil consuming nation. Brent crude futures fell 34 cents, or 0.4%, to $81.26 a barrel at 0337 GMT, while U.S. West Texas Intermediate crude futures declined …

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Iraq Reduced Its Oil Production by 130,000 bpd

Last month, OPEC reduced oil production as the group and its allies made fresh efforts to support prices and prevent a global surplus. According to a Bloomberg survey, OPEC decreased its daily oil production by 490,000 barrels last month to reach 26.57 million bpd. About half of the reduction came …

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Red Sea Attack Blazes Oil Prices 1% Higher as Supply Fears Flare

Oil prices surged by 1% on Monday due to concerns over fuel supply following a missile attack on a Trafigura-operated fuel tanker in the Red Sea. Additionally, worries about a decline in Russian refined products intensified as several refineries are undergoing repairs following drone attacks. Brent crude futures experienced an …

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Iraqi Oil Exports Exceed $8 bn in December

The Ministry of Oil announced on Sunday that the total oil exports and achieved financial revenues for last December surpassed $8 billion, according to the final statistics issued by the Iraqi Oil Marketing Company (SOMO). In a statement today, the ministry reported that the quantity of crude oil exports reached …

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