Tag Archives: SHAFAQ News

OPEC oil output fell in January, a Reuters survey found on Tuesday, as Iraqi exports declined and Nigerian output did not recover further while Gulf members maintained robust compliance with an OPEC+ deal on production cuts to support the market. The survey found that the Organization of the Petroleum Exporting …

The average price of gasoline in Iraq reached 5.14 U.S. dollars per liter. In its report for January 2023, Global Petrol Prices said that Iraq ranked 12th among countries with the cheapest gasoline prices (514 cents per liter) and fifth among Arab countries, preceded by Libya, Syria, Algeria, and Kuwait. …

The Organization of the Petroleum Exporting Countries (OPEC) announced Tuesday that eight out of 13 countries, including Saudi Arabia, decreased their oil production last October. OPEC said in a report the production of OPEC member countries of oil dropped by 210,000 barrels per day (bpd) in the past month to …

U.S. imports of crude oil from Iraq averaged 148 thousand barrels per day (bpd) in October, the Energy Information Administration (EIA) said. According to EIA’s monthly report, October imports from Iraq reached 4.588 million bpd (daily average 148 bpd). Iraq oil exports to the U.S. averaged 109 thousand bpd in …

A top Russian official revealed that Moscow and Baghdad are preparing to sign a memorandum of cooperation in the field of non-energy and peaceful applications of nuclear technologies. Ilya Lobov, the economic adviser of the Russian embassy in Iraq, announced in an interview with RIA Novosti that both sides are …

The Energy Information Administration (EIA) Data showed that Iraq exported 134 bpd of oil to the United States in the past week. EIA stated in a report, “U.S. imports oil 5.357 million bpd in the past week.” The top three source countries for U.S. import oil are Canada (3.410 million …

Saudi Arabia, the UAE and Iraq boosted their crude oil shipments to China last month, strengthening their share of a market that Russia has pushed into following the invasion of Ukraine. The Middle East producers loaded almost 4 million barrels a day of crude for Chinese buyers in October. With …

Iraq seeks to boost output from the Badra oilfield operated by Russia’s Gazprom Neft, a senior official at the Iraqi Ministry of Oil Ali al-Wardi said on Saturday. Speaking to Sputnik, al-Wardi said, “we have an old contract…Gazprom continues to work pursuant to this contract. We have plans to increase …

Oil prices’ headed to a second weekly loss in a row, as fears of economic slowdown persisted and offset hopes of rising oil demand from China. But crude is gaining support from a looming European Union ban on Russian oil, as well as the recent 2 million-barrels-per-day output cut agreed …

The Organization of Petroleum Exporting Countries (OPEC) and its allies can salvage the oil prices by reducing the output, expert Mohammad al-Husni said on Monday. “OPEC+ can control the prices if they agree on a huge cut on production in their October 5 meeting,” al-Husni told Shafaq News Agency. “A …