Tag Archives: SHAFAQ News

Iraq’s oil production has decreased by approximately 4% in 2024, according to statistics published by the Energy Institute (EI). The EI report, obtained by Shafaq News Agency, indicates that the total global production of crude oil and condensates reached 82.636 million barrels per day, marking a 1.4% growth compared to …

Oil prices inched down on Monday as concerns of higher-for-longer interest rates resurfaced and lifted the dollar, offsetting support for oil markets from geopolitical tensions and OPEC+ supply cuts. Brent crude futures slipped 5 cents to $85.19 a barrel by 04:17 GMT, after settling down 0.6% on Friday. US West …

The US Energy Information Administration (EIA) announced on Sunday that Iraqi oil exports to the US had dropped during the past week. “In a span of a week, the US imports of crude oil from eight major countries amounted to 6.028 million bpd, down by 21,000 bpd from the previous …

Iran’s oil minister, Javad Owji, said on Sunday the country is exporting crude oil to 15 nations, defying US sanctions aimed at curbing its nuclear program. Owji, in a post by the Ministry’s official account on X, said that Iran’s revenue from oil, gas and petrochemicals surged to $65 billion …

Oil prices rallied on Monday, extending their biggest weekly gain since early April, supported by improving risk sentiment in broader markets and ongoing short-covering. According to Bloomberg, West Texas Intermediate (WTI) crude futures settled above $80 a barrel for the first time in a month, accelerating gains after prices breached …

US oil imports from Iraq increased last week, according to data released by the US Energy Information Administration (EIA) this weekend. The EIA’s weekly petroleum status report showed that US crude oil imports from nine major suppliers averaged 6.120 million barrels per day (bpd) last week, up by 363 thousand …

Oil prices ticked higher on Wednesday amid upbeat global demand views from the US Energy Information Administration and OPEC, reinforced by industry data showing US crude oil inventories fell more than expected last week. Brent crude futures rose 37 cents, or 0.45%, to $82.29 a barrel at 04:00 GMT, while …

Oil prices extended declines on Monday amid signs of weak fuel demand and as comments from U.S. Federal Reserve officials dampened hopes of interest rate cuts, which could slow growth and crimp fuel demand in the world’s biggest economy. Brent crude futures slid 25 cents, or 0.3%, to $82.54 a …

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 …

The Iraqi Ministry of Oil revealed, on Saturday the latest developments in the work of technical committees between Baghdad and Erbil to resolve the issue of oil exports from the fields of the Kurdistan Region (KRI) through the Turkish port of Ceyhan. The ministry’s spokesperson Asim Jihad told Shafaq News …