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Iraq Bulletin

Tag : OPEC

Business

Global markets face disruption amid $17.3 trillion oil shock warning

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CryptoWire, LONDON: Global financial markets are navigating renewed turbulence after warnings of a potential $17.3 trillion oil price shock that could reverberate across energy, currency, and digital asset sectors. The alert follows heightened geopolitical tension in South America, where the detention of Venezuelan President Nicolás Maduro by U.S. forces has disrupted expectations......
Business

OPEC+ to raise oil output by 137000 barrels per day in November

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OPEC+ confirms a 137000 bpd oil production increase effective November 2025 as member nations coordinate to sustain global market stability....
Featured News

Crude extends gains amid OPEC+ uncertainty and weaker U.S. dollar

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Oil prices extended gains, settling above $72 a barrel as supply concerns, OPEC+ policy uncertainty, and a weaker U.S. dollar supported crude amid market volatility....
Business

Global oil demand growth revised down by OPEC by 106,000 barrels per day

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OPEC has revised its 2024 global oil demand growth forecast down by 106,000 barrels per day, citing weaker-than-expected demand in non-OECD regions, impacting overall oil demand....
Business

Gold continues upward climb, scaling one-year high racing past $2,000 an ounce

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Gold prices have surged past $2,000 an ounce, scaling one-year highs, as the US dollar and yields weakened. This follows weaker-than-expected US economic data, which reinforces bets for a slowdown in the pace of interest rate hikes despite growing concerns over inflationary pressure caused by rising oil prices. The price......
Business

Saudi Arabia and OPEC+ allies agree to cut oil output by 1.16 million bpd

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Saudi Arabia and other OPEC+ oil producers announced further oil output cuts of around 1.16 million barrels per day on Sunday, ahead of a virtual meeting of an OPEC+ ministerial panel. The unexpected move takes the total volume of cuts by OPEC+ to 3.66 million bpd, equal to 3.7% of......
Business

Oil producers from OPEC and non-OPEC sign historic declaration

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Ten non-OPEC oil-producing countries and OPEC Member Countries signed the Declaration of Cooperation (DoC) on 10 December 2022. At the OPEC Headquarters in Vienna, Austria, OPEC Member Countries, Azerbaijan, Bahrain, Brunei Darussalam, Equatorial Guinea, which joined later, Kazakhstan, Malaysia, Mexico, Oman, Russia, Sudan, and South Sudan met on this day......
Business

UAE plays a crucial role in securing global energy supplies – OPEC

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As one of the world’s largest oil producers, and considering future directions to increase energy productivity, Haitham Al Ghais, Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC), affirmed that the UAE plays a crucial role in securing oil supplies around the world. Announcing his appointment as OPEC Secretary-General,......