Tag: Iraq
Iraq favours extending OPEC supply cut
Russia, Saudi Arabia look to extend OPEC supply cut to March, 2018 On Tuesday, the prime minister of Iraq said his country is committed to reducing the global oil glut and will support an extension of the OPEC supply cut in line with any OPEC decision, according to a Reuters report. On May 25, OPEC […]
US crude oil imports increased in 2016
OPEC’s share in 2016 was lower than in any year between 1973 Gross US crude oil imports in 2016 rose to an average of 7.9 million b/d, 514,000 b/d more than the 2015 average, according to the US Energy Information Administration. Net crude oil imports increased by a smaller amount (460,000 b/d), as US crude […]
US crude oil imports from Saudi Arabia, Iraq expected to decline
Imports from Saudi Arabia and Iraq combined recently approached 5-year high In November 2016, high production and seasonally low internal demand contributed to record crude oil exports from Iraq and near-record exports from Saudi Arabia, according to the US Energy Information Administration, with published data dating to Jan. 2002 provided by the Joint Organizations Data Initiative […]
Iraq pipeline explosion triggered by bombs kills one, injures two
Iraq pipeline explosion near Kirkuk KIRKUK, Iraq, Feb 25 (Reuters) – Four bombs went off on Saturday near a minor pipeline from an oilfield close to the northern Iraqi city of Kirkuk, security and oil industry sources said. The pipeline delivers crude from the Bai Hassan oilfield to a degassing station in Kirkuk, though pumping had […]
US crude oil imports from Saudi Arabia, Iraq recently increased, may decline soon
Supply reductions pledged by Middle East producers disproportionately affected medium, sour crudes US crude oil imports from Saudi Arabia and Iraq, two of the United States’ main sources for imported crude oil, have risen since reaching relatively low points in 2014 and 2015, according to the US Energy Information Administration. On a combined basis, crude […]
Iran says oil prices over $55 per barrel harmful for OPEC: Media
OPEC determined to reduce its production to manage market ISTANBUL, Feb 23 (Reuters) – Iran said on Thursday an increase in oil prices to more than $55 per barrel was not in the interest of OPEC as it would lead to a rise in output by non-OPEC producers, the semi-official Fars news agency reported. “If […]
Trump’s Defense Secretary Jim Mattis says in Iraq: We’re not here for your oil
Jim Mattis distances himself Trump remarks By Phil Stewart BAGHDAD, Feb 20 (Reuters) – The U.S. military is “not in Iraq to seize anybody’s oil“, Defense Secretary Jim Mattis said, distancing himself from remarks by President Donald Trump, as he held talks with Iraqi leaders on Monday. Mattis was the highest-ranking Trump administration official to […]
Iraq complies with scale, if not absolute level, of OPEC supply cut
OPEC supply cut levels not yet reached by cartel’s second largest producer By Alex Lawler and Rania El Gamal LONDON/DUBAI, Feb 1 (Reuters) – Iraq significantly reduced oil output in January, according to industry sources and export data on Wednesday, but has yet to reach OPEC supply cut levels expected by the cartel from its second […]
Iraq PM Abadi says country’s oil is for Iraqis, in reaction to Trump
Trump has sent messages offering increased assistance to Iraq BAGHDAD, Jan 24 (Reuters) – Iraq’s oil is the property of Iraqis, Prime Minister Haider al-Abadi said on Tuesday, in reaction to U.S. President Donald Trump who argued that the United States should have taken possession of the nation’s crude reserves. In a speech to CIA officials […]
Record Iraq oil exports from Basra expected in February despite OPEC cut
Iraq oil exports to be cut by 210,000 b/d in OPEC deal By Florence Tan and Olga Yagova SINGAPORE/MOSCOW, Jan 10 (Reuters) – Iraq oil exports from its southern port of Basra are expected to increase to an all-time high in February, keeping exports elevated even as OPEC production cuts take effect this month. The country’s State Oil Marketing […]
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