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Iraq

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  • *Saudi Arabia slashes January oil prices for Asia, U.S. LONDON, Dec 5- Brent crude slipped towards $69 a barrel on Friday, on track to finish the week below $70 a barrel for the first time since 2010, as cuts to official selling prices from Saudi Arabia helped hold oil near five-year lows. "It's been weighing on the market, showing that OPEC is not ready to end its price war,"...

  • *Saudi Arabia slashes January oil prices for Asia, U.S. Some analysts said the Saudi cuts to monthly prices for crude it sells to the United States and Asia show it is stepping up its battle for market share a week after refusing to support OPEC output cuts. "It's been weighing on the market, showing that OPEC is not ready to end its price war," said Commerzbank analyst...

  • *Saudi Arabia slashes January oil prices for Asia, U.S. SINGAPORE, Dec 5- Brent crude extended losses below $70 a barrel on Friday and was set for a second weekly fall, with Saudi Arabia cutting prices in another indication it would maintain output in an oversupplied market. Saudi Arabia cut monthly prices for crude it sells to the United States and Asia, while Iraq is...

  • Brent slips below $70 after Saudi Arabia cut prices Thursday, 4 Dec 2014 | 9:45 PM ET

    *Saudi Arabia slashes January oil prices for Asia, U.S. SINGAPORE, Dec 5- Brent crude slipped below $70 a barrel on Friday and was set for a second weekly fall, with Saudi Arabia cutting prices in another indication it would maintain output in an oversupplied market. Saudi Arabia cut monthly prices for crude it sells to the United States and Asia, while Iraq is set to...

  • Iraq exports boost to add pressure on 2015 oil market Thursday, 4 Dec 2014 | 5:55 AM ET

    *Higher Iraqi output cited as factor against OPEC cut. LONDON, Dec 4- Iraq's plan for higher oil exports in 2015, emerging in detail just days after OPEC shunned any output cut, will add to global over supply and is likely to entrench the reluctance of other OPEC members to curb their own supplies. When OPEC met on Nov. 27, Saudi Arabia and its Gulf allies opposed calls...

  • LONDON, Dec 4- Trafigura, one of the world's biggest commodities trading firms, played a pivotal role in helping Iraq's semi-autonomous Kurdish region export oil, which the Iraqi government considered illegal, three sources familiar with the trades said. This week Iraq and its Kurdish region reached a landmark deal designed to resolve a dispute over oil...

  • *Brent oil holds above $70 a barrel. NEW YORK, Dec 3 (Reuters)- Global equity markets advanced and the dollar rose to its highest level since 2009 on Wednesday as momentum grew for the European Central Bank to launch a bond-buying program and data showed U.S. economic resiliency in the face of slowing world growth. "Investors are looking to increase their holdings of...

  • *OPEC oil supply falls 340,000 bpd in Nov due to Libya- survey. "There has been a technical bounce back from the very strong declines that we have seen in the lead-up to and after the OPEC meeting," said Harry Tchilinguirian, an oil analyst at BNP Paribas in London. Brent for delivery in January was up 46 cents at $71 a barrel by 1450 GMT after falling by $2 on Tuesday on a...

  • Oil edges higher  Wednesday, 3 Dec 2014 | 9:43 AM ET

    CNBC's Jackie DeAngelis takes a look at what's pushing oil prices higher today. DeAngelis reports production in Iraq may increase due to a new deal reportedly struck between the Iraqi's and Kurds.

  • If OPEC cannot act to defend the prices and revenues of its member countries, does the organisation still serve any purpose? There is an assumption among some commentators that OPEC is only relevant and working if ministers can reach a production agreement in response to shifts in prices, and that strong disagreement is a sign of dysfunction.

  • *OPEC oil supply falls 340,000 bpd in Nov due to Libya- survey. Brent hit a five-year low below $68 a barrel on Monday after averaging around $110 a barrel in 2011 to 2013. "There has been a technical bounce back from the very strong declines that we have seen in the lead-up to and after the OPEC meeting," said Harry Tchilinguirian, an oil analyst at BNP Paribas in London.

  • SPECIAL REPORT-How Exxon helped make Iraqi Kurdistan Wednesday, 3 Dec 2014 | 7:31 AM ET

    LONDON/ ARBIL, Dec 3- In January 2011, Exxon hired one of the best connected men in Iraq: Ali Khedery, an American of Iraqi descent who had served in Baghdad as a special assistant to five U.S. ambassadors and a senior adviser to three U.S. generals. "We will see a rise in violence and a total paralysis in Baghdad," he recalled saying. He suggested an alternative: Kurdistan, a...

  • *OPEC oil supply falls 340,000 bpd in Nov due to Libya- survey. The market has swung through sharp gains and losses since OPEC announced last week that it would maintain steady output in an oversupplied market. U.S. crude for January was at $67.85 a barrel, up 97 cents, after dropping more than $2 the session before.

  • Benchmark Brent crude oil on Monday rose more than 3 percent, the most in two years, on speculation that its sharp drop following last week's OPEC meeting was overdone. Iraq's government said it reached an agreement with Kurdish authorities to export 300,000 barrels per day of oil from Kirkuk and 250,000 bpd from the northern Kurdish region through Turkey.

  • Iraq's government said it reached an agreement with Kurdish authorities to export 300,000 barrels per day of oil from Kirkuk and 250,000 bpd from the northern Kurdish region through Turkey. "The Iraqis deal with the Kurds for oil exports is the one headline sticking out in today's market, a reminder that the oversupply in oil isn't going away easily," said Joseph...

  • Iraq's government said it has agreed with Kurdish authorities to export 300,000 barrels per day of oil from Kirkuk and 250,000 bpd from the northern Kurdish region through Turkey. "The Iraqis deal with the Kurds for oil exports is the one headline sticking out in today's market, a reminder that the oversupply in oil isn't going away easily," said Joseph Posillico,...

  • *OPEC output 300,000 bpd above 30 million bpd target. Supply from the Organization of the Petroleum Exporting Countries averaged 30.30 million bpd in November, down from a revised 30.64 million bpd in October, according to the survey based on shipping data and information from sources at oil companies, OPEC and consultants. OPEC at its meeting in Vienna...

  • Joe Magyer, Senior Analyst at The Motley Fool, describes the reaction of emerging market assets to plunging oil prices.

  • JPMorgan: Brent to settle at $75 in Q1 2015  Friday, 28 Nov 2014 | 12:03 AM ET

    Scott Darling, Regional Head of Oil & Gas Research at JP Morgan, explains why he sees further declines in oil prices next year.

  • Saudi Arabia is trying to curtail US shale:CS  Thursday, 27 Nov 2014 | 9:20 PM ET

    David Hewitt, Co-head of Global Oil & Gas Equity Research at Credit Suisse, says OPEC is facing an economic conflict with U.S. shale producers.