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Iraq

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  • *OPEC increases January output to 30.37 bpd- survey. The late-session surge was primed by Baker Hughes data showing the number of rigs drilling for oil in the United States fell by 94- or 7 percent- this week. Brent settled up $3.86 at $52.99 a barrel, after running to as high as $53.08.

  • *OPEC increases January output to 30.37 bpd- survey. NEW YORK, Jan 30- Oil rose on Friday as concerns over fighting in Iraq extended short covering from the previous session, but crude prices were still poised for a seventh month of declines, the longest rout on record. Crude was up in early trading Friday in New York on renewed violence in oil producer Iraq, where...

  • *OPEC increases Jan. output to 30.37 bpd- Reuters survey. LONDON, Jan 30- Oil fell below $49 a barrel on Friday and was on course for its seventh straight month of declines, the longest such bear run on record as a supply glut showed no signs of easing with OPEC increasing production in January. Benchmark Brent crude prices have kept within a band of $45- $50 a barrel since...

  • *Renewed violence in Iraq supports prices. LONDON, Jan 30- Oil rose above $49 a barrel on Friday, supported by renewed violence in Iraq but with a persistent global supply glut keeping the market on course for a seventh straight month of declines, its longest bear run on record. Benchmark Brent crude prices have kept within a band of $45- $50 a barrel since hitting a...

  • The U.S. stock market capped a rough month Friday, delivering its third loss in five days and extending its declines for the year. "The real issue still is the confusion, the uncertainty around the speed of decline in oil prices and what that means, and the rise in the dollar and what that means for earnings," said Bob Doll, chief equity strategist at Nuveen Asset...

  • BAGHDAD, Jan 28- Royal Dutch Shell has signed a deal with Iraq worth $11 billion to build a petrochemicals plant in the southern oil hub of Basra, Industry Minister Nasser al-Esawi said on Wednesday. Esawi told a press conference in Baghdad the Nibras complex, which is expected to come on line within five to six years, would make Iraq the largest petrochemical...

  • BAGHDAD, Jan 28- Royal Dutch Shell signed deal with Iraq worth $11 billion to build a petrochemicals plant in the southern oil hub of Basra, Industry Minister Nasser al-Esawi said on Wednesday. Esawi told a press conference in Baghdad the Nibras complex, which is expected to come on line within five to six years, would make Iraq the largest petrochemical producer...

  • A turning point in the war against ISIS Tuesday, 27 Jan 2015 | 12:27 PM ET
    A Kurdish man holds up a weapon as he tours with others the streets of Ras al-Ain in celebration, after it was reported that Kurdish forces took control of the Syrian town of Kobani, January 26, 2015.

    The liberation of this Syrian city marks a turning point in the war against ISIS, says David Phillips.

  • DUBAI, United Arab Emirates— Several airlines suspended flights to Baghdad on Tuesday after a passenger plane arriving from the Mideast's busiest airport in Dubai came under fire as it landed in the Iraqi capital. All passengers were able to disembark normally and none required medical attention at the airport, the Dubai government-owned carrier said.

  • Saudi King Abdullah was a cautious reformer Thursday, 22 Jan 2015 | 7:09 PM ET

    RIYADH, Jan. 23- Saudi Arabia's King Abdullah bin Abdulaziz, born the year the first motorcar bumped through the dusty streets of Riyadh, left a modernizing legacy of cautious social and economic reform. King Abdullah, thought to have been born in 1924, had ruled Saudi Arabia as king since 2006, but had run the country as de facto regent for a decade before that.

  • UPDATE 4-Oil prices slip on record Iraq output Monday, 19 Jan 2015 | 5:17 AM ET

    *Iraq announces record oil production for December. LONDON, Jan 19- Brent crude oil prices fell below $50 a barrel on Monday after Iraq announced record oil production and the global economic outlook darkened. Abdel Mehdi said Iraq planned to a big increase in exports from the northern city of Kirkuk and the Kurdistan region, which would increase production to...

  • "It is the first time Iraq has achieved this," Abdel Mehdi told a press conference alongside Turkish Energy Minister Taner Yildiz. Abdel Mehdi also revealed plans to export 375,000 bpd for the first three months of 2015 from around the northern city of Kirkuk and the Kurdistan region. Abdel Mehdi told reporters that Iraq had set the level of exports for Iraq's...

  • Inside a $24M scam: Buy the Iraqi dinar Thursday, 15 Jan 2015 | 3:39 PM ET
    A customer counts Iraqi dinars at a money changer in Baghdad.

    How scammers pitched a nearly worthless Iraqi dinar as a sure bet to appreciate in the future. "Crime & Punishment" takes a look.

  • *OPEC cuts 2015 demand forecast for its crude. LONDON, Jan 15- Oil prices steadied on Thursday, firming as the dollar weakened, despite OPEC forecasts of lower demand for its oil this year and another cut in oil price forecasts by a major U.S. bank. Brent crude was up 65 cents a barrel at $49.34 a barrel by 1240 GMT, at a small premium to U.S. crude, which was trading at $49.25 a...

  • *Iraq plans 0.6 million bpd rise in Feb exports from south. LONDON, Jan 15- Oil prices resumed their move downwards on Thursday, as Iraq planned a further jump in exports for February, with both Brent and U.S. crude oil dropping around $1 towards near six-year lows, and almost wiping out gains made the previous day. Brent crude oil was down $1.48 at $47.21 a barrel at 1007...

  • Draining the swamp of support for terrorism Friday, 9 Jan 2015 | 3:14 PM ET

    Draining the swamp that gives rise to extremism and terrorism is a generational endeavor. The West's policies warrant review, says David Phillips.

  • DUBAI, Jan 1- Falling world oil prices will hurt countries across the Middle East unless Saudi Arabia, the world's biggest crude exporter, takes action to reverse the slump, Iran's deputy foreign minister told Reuters. Oil prices closed on Wednesday at a 5-1/ 2 year low, registering their second-biggest ever annual decline after OPEC oil exporters, led by Saudi...

  • Don't cheer Iraq oil agreement just yet Tuesday, 30 Dec 2014 | 12:39 PM ET

    U.S. officials heralded the oil revenue-sharing agreement in Iraq but they should not rush to judgment. Here's why.

  • *U.S. crude for February delivery was up 6 cents to $53.67 a barrel as of 0038 GMT after settling down $1.12 in the previous session, its lowest level since May 2009. *U.S. crude stocks fell by an average 900,000 barrels last week to around 386 million barrels according to an analysts' poll by Reuters released ahead of weekly inventory reports from the American...

  • SALAHUDDIN PROVINCE, Iraq, Dec 29- The machine gun poking out from between a framed portrait of a Shi'ite imam and a stuffed toy Minnie Mouse was trained on anyone who approached the checkpoint. Like dozens of other communities in Iraq, this small Sunni settlement in northern Salahuddin province's Tuz Khurmatu district has been reduced to rubble.